Vicor Technologies, Inc. Announces Exclusive Distribution Agreement with VF Medical, LLC for Its PD2i Analyzer(TM) and First U.S. Physician Sale

January 14, 2010 |

5 min read

BOCA RATON, FL--(Marketwire - January 14, 2010) - David H. Fater, CEO of Vicor Technologies, Inc. (OTCBB: VCRT), today announced that the Company has entered into an exclusive distribution agreement for the PD2i Analyzer™ in South Carolina, North Carolina, and the cities of Savannah and Augusta, Georgia, and sold its first PD2i Analyzer™ to a U.S. physician. Vicor Technologies is a biotechnology company focused on the commercialization of innovative, non-invasive medical devices and diagnostics using its patented, proprietary PD2i® nonlinear algorithm and software to stratify patients at risk of sudden cardiac death and autonomic nervous system dysfunction, and trauma victims in need of lifesaving intervention.

VF Medical, LLC (www.vfmedical.com), a medical products distribution company, will serve as the exclusive distributor for the PD2i Analyzer™ in South Carolina, North Carolina, and the cities of Savannah and Augusta, Georgia. VF Medical will utilize a 25-person medical products distribution team consisting of agents who have long-term relationships with cardiologists, electrophysiologists, and family practice and internal medicine physicians within the designated territory.

The PD2i Analyzer™ was purchased by Dr. S. Granville Vance for his Dillon Family Medicine clinic, a private, seven-provider family practice in Dillon, South Carolina. The PD2i Analyzer™ measures heart rate variability, the clinical significance of which is physician determined. Dr. Vance is also a principal of VF Medical, LLC.

“We are very excited about our agreement with VF Medical -- our first distribution arrangement in the United States -- and the sale of the PD2i Analyzer™ to Dr. Vance, which is our first physician consumer revenue,” stated Mr. Fater. “Dr. Vance has used the PD2i Analyzer™ to perform diagnostics on a portion of his patients and clearly sees the benefit of using the PD2i Analyzer™ to identify problems that might otherwise go undetected, causing harm to the patient’s health and unnecessary cost to the healthcare system,” Mr. Fater continued. “Our partnership with VF Medical and the support of physicians like Dr. Vance represents the first step in and a model for our staged nationwide roll-out of the PD2i Analyzer™ this year,” Mr. Fater concluded.

“I’m delighted to be the first physician in the U.S. to purchase the PD2i Analyzer for use in diagnosing patients at Dillon Family Medicine,” stated Dr. Vance. “The addition of the PD2i Analyzer™ to our current in-house CAT scan, nuclear cardiology lab, x-ray, and endoscopy services is Dillon Family Medicine’s most recent effort to use the latest technology to enhance the health and longevity of our patients,” Dr. Vance concluded.

“Dr. Vance’s purchase and utilization of Vicor’s PD2i Analyzer™ is a significant demonstration of Dillon Family Medicine’s commitment to improving patient care,” stated Andrew Flynn, VF Medical Operating Manager. “The VF Medical team will support the physicians in our territory with helpful materials on the PD2i Analyzer™, the rationale for testing, coding guides, and test analysis,” Mr. Flynn concluded.

About Vicor Technologies, Inc.

Vicor Technologies is a biotechnology company creating innovative non-invasive diagnostics employing its patented, proprietary point correlation dimension algorithm (PD2i®). The PD2i® nonlinear algorithm is a deterministic, nonlinear measure of electrophysiological potentials that predicts future pathological events with a high degree of accuracy in target populations.

Vicor currently has three products employing the PD2i® nonlinear algorithm. The PD2i Analyzer™, which has FDA 510(k) marketing clearance, measures heart rate variability; physicians performing diagnostic tests with the PD2i Analyzer™ are able to receive reimbursement under existing CPT codes. The PD2i VS™ (Vital Sign), in clinical trials under a collaborative effort with the U.S. Army Institute for Surgical Research (http://www.usaisr.amedd.army.mil/), risk stratifies combat and civilian trauma victims. The PD2i CA™ (Cardiac Analyzer), in multiple clinical trials, identifies patients at risk of sudden cardiac death.

Vicor anticipates additional applications employing the PD2i® nonlinear algorithm to enable early detection and risk stratification for a variety of other disorders and diseases. Additional information is available at www.vicortech.com.

The appearance of name-brand institutions or products in this media release does not constitute endorsement by the U.S. Army Medical Research and Materiel Command, the Department of the Army, Department of Defense or the U.S. Government of the information, products or services contained therein.

Caution Regarding Forward-Looking Statements

Forward-looking statements in this press release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The following factors, among others, could cause our actual results to differ: our ability to obtain FDA approval of the PD2i VS™ (Vital Sign) for military and civilian applications and the PD2i CA™(Cardiac Analyzer), our ability to continue to receive financing sufficient to continue operations and complete the critical clinical trials; our ability to continue as a going concern; our ability to successfully develop products based on our technologies, included but not limited to our ASP distribution model for the PD2i Analyzer™; our ability to obtain and maintain adequate levels of third-party reimbursement for our products; the impact of competitive products and pricing; our ability to receive regulatory approval for our products; the ability of third-party contract research organizations to perform preclinical testing and clinical trials for our technologies; the ability of third-party manufacturers to manufacture our products; our ability to retain the services of our key personnel; our ability to market and sell our products successfully; our ability to protect our intellectual property; product liability; changes in federal income tax laws and regulations; general market conditions in the medical device and pharmaceutical industries; and other matters that are described in Vicor’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and subsequent filings with the Securities and Exchange Commission. Forward-looking statements in this press release speak only as of the date of the press release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ.

Release 10-02