Meridian Co. Ltd. Signs US$3.5 Million Sales Contract with EnterOne Co.
Published: Aug 29, 2007
Their exclusive distributorship for the DPA is based on a minimum order volume equal to sales of approximately US$3.5 million over the next 3 years. Under the terms of the agreement, Enterone has pre-paid 300,000,000 Korean Won (approximately US$320,000) to Meridian for the first portion of the initial purchase order.
The initial marketing focus of Enterone will be the growing health and wellness industry within Korea, specifically wellness and anti-aging clinics. Enterone is expanding its marketing efforts into the rapidly growing medical device industry. Executives at Enterone believe the unique line of Meridian's non-invasive health care devices is perfectly paired to capture a share of today's expanding wellness market.
More About: Enterone Co., Ltd.
Enterone is a KOSDAQ (Korean stock market similar to NASDAQ) listed company trading under the code 035500. Established in 1993, Enterone has been conducting media production and distribution and resort and tourism business. With its distribution experience, existing networks, and marketing and media production expertise, Enterone has exciting plans to aggressively launch the DPA within the growing health and wellness industry.
More About: Digital Pulse Analyzer ("DPA")
The DPA accurately measures the elasticity of small and large arteries and provides health care practitioners with critical information regarding arterial aging. This FDA-cleared and Health Canada approved device is inexpensive, non-invasive, and can provide results in minutes. Accumulating evidence suggests that abnormalities in the pulsatile characteristics of arteries occur early in the disease process associated with increased cardiovascular risk, and can be favorably modified by therapeutic interventions.
Cardiovascular disease is the number one killer of both men and women in the United States with an estimated economic cost of approximately $298 billion. The Company feels that use of the DPA can help caregivers reduce cardiovascular disease in their patient populations through early detection and prevention, and ultimately assist to decrease the associated financial costs placed on the health care industry.
More About: Meridian
Meridian is an established leader in the research/development, manufacturing and sales of advanced medical devices in the healthcare industry. With a dynamic research and development team, Meridian is at the forefront in the development of cutting edge medical technologies. The Company presently holds a total of 18 worldwide patents on its technology, and has received FDA approval and Health Canada approval as well as other international regulatory approvals, for many of its products. Meridian has over 2000 clients including physicians, hospitals, clinics, healthcare professionals, and wellness centers in Korea, USA, Canada, China, Japan and Europe, and continues to successfully market its superior product line to a growing number of clients worldwide.
By continuing its commitment for the globalization and advancement of integrative medical products, Meridian seeks to transform health care from a focus on disease to a focus on wellness and prevention. By working towards this vision, Meridian can ensure it becomes a world-class company for its customers and could ultimately decrease the financial burden placed on the existing, expensive, allopathic health care industry.
On Behalf of the Board of Directors,
Hyeon Seong Myeong, President
This press release may contain certain forward-looking information and statements concerning the company's operations, performance and financial condition. These statements are based upon a number of uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. This document is not intended to be and is not an advertisement for any securities of the Company.
Contacts: Meridian Co., Ltd. Peter Holeczek Corporate Communications 1-866-736-3306 Website: http://www.meridianmedical.ca
Source: Meridian Co., Ltd.