WESTBOROUGH, Mass., Nov. 10, 2010 (GLOBE NEWSWIRE) -- Viking Systems, Inc. (OTCBB:VKNG) announced today that it has entered into distribution agreements for its new 3DHD visualization system with two additional distribution partners covering nine countries.
The Company has entered into distribution agreements for its new 3DHD visualization system with Biomedica Medizinprodukte GMBH & Co KG ("Biomedica") and Vision Medica Argentina S.R.L ("Vision Medica"). Biomedica will distribute the product in Austria, Poland and Czech Republic while Vision Medica will distribute the product in Argentina, Chile, Ecuador, Paraguay, Peru, and Uruguay. Viking had previous distribution agreements with both companies related to its earlier generation 3D vision system.
Jed Kennedy, Viking Systems President & CEO stated, "We are pleased to add two more high quality distribution partners for our new product. Biomedica and Vision Medica have made great strides in introducing 3D vision into their respective markets and both are well connected to key decision makers and have demonstrated their ability to sell medical technology to influential institutions in those markets. I am confident now that with the release of the 3DHD Vision System into these markets these distributors will be well positioned to take advantage of the groundwork they have laid."
The Company plans to continue executing its distribution strategy by partnering with committed independent sales partners who already provide complementary laparoscopic instrumentation to the OR and to whom the 3DHD System will provide significant differentiation and a distinct competitive advantage over other laparoscopic instrument providers. "Nearly all laparoscopic procedures are currently performed with a 2D camera," said Jed Kennedy. "We plan to provide the surgeon with high quality 3D vision in a cost effective and flexible format. Performing complex minimally invasive procedures with a 3D vision system has the potential not only to improve the quality of care but also to reduce procedure time and therefore cost of procedures."
About Viking Systems, Inc.
Viking Systems, Inc. (OTCBB:VKNG) is a leading worldwide developer, manufacturer and marketer of 2D and 3D visualization solutions for complex minimally invasive surgery. The Company partners with medical device companies and healthcare facilities to provide surgeons with proprietary visualization systems enabling minimally invasive surgical procedures, which reduce patient trauma and recovery time. For more information visit the Company's website at: www.vikingsystems.com
This press release contains forward-looking statements. These forward-looking statements are estimates reflecting the best judgment of our management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors as described in our annual report on Form 10-K under the heading "Risk Factors" as updated from time to time by our quarterly reports on Form 10-Q and our other filings with the Securities and Exchange Commission. Statements concerning forecasts, revenue growth, procedure growth, future financial results, and statements using words such as "estimate", "project", "plan", "intend", "expect", "anticipate", "believe" and similar expressions are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
CONTACT: Viking Systems, Inc. Robert Mathews, EVP & CFO (508) 366-3668 Ext. 8392