67-year old owner of small Welsh firm sells invention for monitoring blood oxygen level to Californian firm for millions

The title may be a bit misleading, since Dawood Parker, a father of three, is running a company named Whitland Research.
The company developed a tiny fiber optic gadget which will reach into the heart and monitor the oxygen levels in the blood.
So, how does it work? According to Professor Parker (yes, a former professor of Physics – he used to teach at University of Wales), when blood is well-oxygenated, it is red, and reflected light which comes back will have a double hump. However, when it is not oxygenated, it turns purple, and the reflected light will have a single hump.
Sounds simple, doesn’t it? In fact, this has been a known fact for years, but nobody could make a practical device on the basis of these facts.
Until Prof Parker and his tiny company stepped in.
According to Prof Parker, the deal was less than $10 million. If I had to hazard a guess, it should be between 7 and 10 million US $…
And, who bought it? An MNC from California, that is all the professor can reveal at this stage.
So, for the rest of us, it is waiting time till mid-2007, when the company is supposed to launch the product.

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