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Pyng Medical Corp. (PYNGF) to Expand Global Distribution Network to India



7/26/2010 11:12:45 AM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2010) - Pyng Medical Corp. (TSX VENTURE: PYT) (the "Company" or "Pyng") today announced it has expanded the network of global dealers to include India - Pyng Medical Corp., the world's leading supplier of Sternal Intraosseous Infusion devices, announced expansion of its exclusive dealer network globally with a significant addition to add India to the Asia-Pacific markets. This strategic announcement will further expand Pyng's capability by increasing their market opportunity, adding India, the second most populated country in the world (est. 1.18 billion) or more than one-sixth of the world's population.

In India there is large demand for high-quality medical devices made in North America. Pyng's dominance in Sternal IO for deployed U.S. military will be leveraged into the Indian Military, EMS, and Hospital markets.

"The criterion for becoming a Pyng channel partner is quite rigorous. vTitian meets our high standards," commented Robert Di Silvio, President and CEO of Pyng Medical.

In India, vTitan Corporation Private Limited becomes Pyng's first exclusive distribution relationship. vTitan is engaged in the design, development, manufacture, distribution and sale of a broad range of medical devices and consumables used in global healthcare markets. Their international sales customer base encompasses government, military, public and private hospitals, and critical care services.

Robert Di Silvio, Pyng President and CEO, further commented "We are working closely with vTitan to bring Pyng's life-saving products to the Asia-Pacific market and expect to see strong business from India"

About Pyng Medical Corp.

Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Pyng's expanded product portfolio includes a variety of innovative, lifesaving tools including the FAST1® Intraosseous Infusion System, the FASTx™Sternal Intraosseous Device, the MAT® Tourniquet, the T-POD® Pelvic Stabilizer and the CRIC™Cricothyrotomy System. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from Life Sciences British Columbia for its sustained achievements in commercializing the Company's proprietary FAST1®, the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the "2007 TSX Venture 50" Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.

Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contacts:
Pyng Medical Corp.
George Dorin
Chief Financial Officer
1-800-349-7964
www.pyng.com


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