(Source: MARKETWIRE)
David H. Fater, CEO of Vicor Technologies, Inc. (OTCBB: VCRT), today announced that the Company has entered into an exclusive distributorship agreement with Glotecx, Inc. for the distribution of its PD2i Cardiac Analyzer. Glotecx, Inc. is a global provider of state-of-the-art medical equipment. Vicor Technologies is a biotechnology company focused on the commercialization of innovative, non-invasive medical devices and diagnostics using its patented, proprietary PD2i algorithm and software to stratify patients at risk of sudden cardiac death (SCD) and trauma victims in need of life saving intervention.
The agreement grants Glotecx the exclusive right to purchase, inventory, promote, and resell the private label Vicor PD2i Cardiac Analyzer, and accompanying computer hardware and test analyses in India, Kenya, Uganda, Tanzania, and Nigeria. According to the terms of the agreement, Glotecx guarantees to pre-pay Vicor for a pre-determined minimum amount of equipment and test analyses, with payment for equipment and test analyses in excess of the minimum guaranteed amount payable monthly. The initial term of the agreement will commence on October 1, 2009.
"We are pleased to have entered into this international distribution agreement with Glotecx. Glotecx is a leading provider of cutting-edge medical equipment to nations worldwide and is extremely well positioned in the countries covered by this agreement. Consequently, we are confident that our PD2i Cardiac Analyzer will be well-represented and distributed widely in the countries covered by this agreement. Most importantly, with pre-payment for a minimum amount of equipment and test analyses guaranteed, Vicor should achieve another milestone -- commencement of revenue generation -- during the fourth quarter of 2009," stated Mr. Fater. "This is an important initial step in the international distribution arena for Vicor. We are negotiating additional arrangements for the distribution of the PD2i Cardiac Analyzer in Canada, Ecuador, Brazil, and other South American countries," he concluded.
Glotecx, headquartered in Coral Springs, Florida, is the global distributor for leading medical equipment manufacturers, including GE, Philips, Stryker, ZOLL, Datascope, and Siemens. It has representatives in Argentina, Australia, Brazil, Cameroon, Canada, China, Ghana, India, Japan, Kenya, Malaysia, Mexico, Romania, South Africa, Spain, Tanzania, Turkey, Uganda, the United Arab Emirates, and the United Kingdom.
About Vicor Technologies, Inc.
Vicor Technologies is a development-stage biotechnology company creating innovative non-invasive diagnostics employing its patented, proprietary point correlation dimension algorithm (PD2i).
