WESTBOROUGH, Mass., July 28, 2010 (GLOBE NEWSWIRE) -- Viking Systems, Inc. (OTCBB:VKNG - News) announced today an extension of its supply contract with Boston Scientific. Based on the continued success of Boston Scientific's SpyGlass(R) Direct Visualization System, the companies agreed to extend the term of the supply agreement through May 2012.
"We are very pleased to have reached this agreement with Boston Scientific," said Jed Kennedy, President & CEO of Viking Systems, who went on to say, "Our OEM products provide a solid manufacturing base that benefits both our OEM and Viking brand products including our planned Next Generation 3DHD Visualization System. Our relationship with Boston Scientific and our other OEM customers brings further credibility to Viking as a high quality designer and manufacturer of visualization products for the medical markets."
Boston Scientific's SpyGlass Direct Visualization System is the latest advancement in intraductal visualization during a cholangioscopy. The SpyGlass System is the first single operator, intraductal system that allows for not only optical viewing, but also optically-guided biopsies and has been shown to be compatible with electrohydraulic lithotripsy (EHL) and holmium laser to fragment stones. Viking Systems provides the camera, lightsource and related accessories designed specifically for the SpyGlass(R) Direct Visualization System.
About Viking Systems, Inc.
Viking Systems, Inc. (OTCBB:VKNG - News) 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. During 2010 Viking intends to complete the development of its unique Next Generation 3DHD Visualization System and currently plans to launch the system in the fourth quarter of 2010. For more information visit the Company's website at: www.vikingsystems.com
About Boston Scientific, Inc.
Boston Scientific Corporation (NYSE:BSX - News) is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.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.
Viking Systems, Inc.
Robert Mathews, EVP & CFO
(508) 366-3668 Ext. 8392