Viking Systems, Inc. and Platinum Medical Enter Into Exclusive Distribution Agreement Agreement Will Significantly Expand Viking Systems U.S. Market Presence
Exhibit
99
Form
8-K
Viking
Systems, Inc.
File
No.
000-49636
Viking
Systems, Inc. and Platinum Medical Enter Into
Exclusive
Distribution Agreement
Agreement
Will Significantly Expand Viking Systems U.S. Market
Presence
SAN
DIEGO - November 27, 2006
- Viking
Systems, Inc. (OTCBB: VKSY),
a
designer, manufacturer and marketer of 3-D and 2-D vision systems for minimally
invasive surgical (MIS) procedures, has entered into an exclusive Distribution
Agreement with privately-owned Platinum Medical, Inc. of Las Vegas, Nevada.
Under the agreement, Viking’s state-of-the-art 3Di Digital Vision Systems and
2Di Digital Vision Systems will be incorporated into Platinum Medical’s line of
advanced surgical solutions.
The
agreement marks Viking Systems' continued focus on increasing its market
penetration and broadening its geographic sales reach. Complimented by Platinum
Medical’s experienced salesforce and its exclusive U.S. distribution rights for
the well-established line of TRUMPF surgical products, the agreement will allow
Viking to offer its leading-edge solutions to more hospitals, government health
agencies, and outpatient surgery centers focused on establishing dedicated,
high-performance MIS surgical suites. With this agreement, Viking’s salesforce
will more than double and distribution coverage will be expanded to every major
U.S. market.
“This
agreement with Platinum Medical marks a significant milestone for Viking Systems
and allows for a tremendous growth opportunity for the Company,” said Xxxxxx X.
Xxxxxx, Chairman, President and CEO of Viking Systems. “Platinum Medical has a
strong management team and an experienced salesforce, with well established
relationships at leading surgical centers throughout the U.S. By adding our
highly differentiated vision systems to their line of high quality and advanced
surgical solutions, including the TRUMPF portfolio, we will be able to rapidly
and efficiently expand our U.S. market presence.”
Xx.
Xxxxxx concluded, “Equally important, our advanced 3-D and 2-D vision systems
and Infomatix™ platform will be offered along with TRUMPF’s surgical product
line. Viking Systems and TRUMPF technologies are highly complimentary to the
mission of delivering a complete suite of high performance general and MIS
surgical solutions to hospitals, the surgeon and the surgical team. With this
agreement, we believe we significantly increase our value proposition across
multiple markets and can better meet high growth and high performance market
needs.”
“Our
salesforce is dedicated to providing hospitals and surgical teams with the
most
advanced, forward thinking solutions available,” added Xxxxx Xxxx, President and
CEO of Platinum Medical. “The addition of Viking vision and information systems
to our current line of TRUMPF LED surgical lights, equipment booms, patient
transport solutions and modular surgical tables is not only consistent with
this
concept, but dramatically expands it. We can now offer hospitals and surgical
teams individual state-of-the-art solutions that when brought together provide
an unmatched level of efficiency, safety and improved patient care in the
O.R.”
“Our
customers have responded with enthusiasm about our ability to provide a
best-in-class, high performance OR solution”, said Xxxx Xxxxx, Vice President of
Business Development, Platinum Medical. “The initial response at large centers
have confirmed that the addition of advanced vision systems and the Infomatix™
platform from Viking have added significant value to our smart OR solution.”
About
Viking Systems, Inc.
Viking
Systems, Inc. is a designer, manufacturer and marketer of FDA-cleared,
CE-marked, high-performance laparoscopic vision systems. The Company's primary
branded product is the 3Di Digital Vision System, an advanced three-dimensional
(3-D) vision system used by surgeons for complex minimally invasive surgery,
with an initial focus on applications in urology, gynecology, bariatrics and
general surgery. Viking Systems Infomatix™ platform provides the surgeon and
surgical team with a real-time 3D or 2D image of the surgical field, and
integrates the real-time image with live secondary video sources, diagnostic
reference images and image-guided information in a picture-in-picture format.
Viking also manufactures advanced two-dimensional (2-D) 2Di Digital Vision
Systems for targeted configurations and channels, as well as 2-D cameras and
components, sold through strategic partner and OEM programs.
About
Platinum Medical, Inc.
Platinum
Medical, Inc., a private company based in Las Vegas, Nevada, is the exclusive
U.S. distributor of TRUMPF O.R. solutions. TRUMPF products include the
award-winning TRUMPF iLED surgical light; market-leading TRUMPF XXXXXXX
Equipment Booms; innovative patient transport solutions; and a full-line of
modular, mobile surgical tables designed to improve performance, efficiency
and
safety in the operating room. To learn more about Platinum Medical visit
xxx.xxxxxxxxxxxxxxx.xxx
Safe
Harbor Statement
This
press release includes forward-looking statements including, but not limited
to,
our ability to execute on our business plan during 2006 and beyond, our
strategic planning and business development plans, our future financing needs,
impacts on our financial results, and our future growth. These forward-looking
statements are subject to a number of risks and uncertainties that may cause
actual results to differ materially from those described in the forward-looking
statements. These risks include, but are not limited to, our ability to market
our products, the success of business development efforts, competition in the
industry, and our ability to manage growth, as well as the risks and other
factors set forth in our periodic filings with the U.S. Securities and Exchange
Commission (including our Form 10-KSB for the year ended December 31, 2005
and
our Form 10-QSB from the quarter ended September 30, 2006.
2
Contact:
The
Investor Relations Group
Investors:
Xxxxx
Xxxxxx / Xxxx Xxxxxxxxxx
xxxxxxx@xxxxxxxxxxxxxxxxxxxxxx.xxx
xxxxxxxxxxx@xxxxxxxxxxxxxxxxxxxxxx.xxx
000-000-0000
Media:
Xxxx
Xxxxxxx
xxxxxxxx@xxxxxxxxxxxxxxxxxxxxxx.xxx
000-000-0000
3
