SINGAPORE - Medical technology firm QT Vascular is potentially selling its coronary products to a multinational firm.

In an announcement on Monday morning (Feb 5), it said that the term sheet both have entered into is non-legally binding and non-definitive, and it will continue to engage the buyer with the intention to complete the deal.

The Catalist-listed firm aims to continue generating value for shareholders from its mature products while further developing its drug-coated products and expanding its portfolio with new technologies, it added.

QT Vascular had also announced a potential transaction linked to certain coronary assets in October last year, which led to a surge in its share price.