Urodynamix Expands Asian Distribution of URO NIRS 2000
02 Avril 2009 - 3:02PM
Marketwired Canada
Urodynamix Technologies Ltd. (TSX VENTURE:URO) announced that it has entered
into a distribution agreement with Suntek Medical Systems ("Suntek"), a leading
distributor of urology products in South Korea. The agreement grants Suntek
non-exclusive sales, marketing and distribution rights for the URO NIRS 2000
Bladder Monitor technology in Korea.
In conjunction with the distribution agreement, Suntek placed an initial
stocking order of $73,500 US. The URO NIRS 2000 will be marketed in South Korea
upon receipt of Korean Food and Drug Administration ("KFDA") registration for
the product which is expected to be completed in mid 2009. Suntek will register
the URO NIRS 2000 for approval with KFDA.
Suntek is a privately held company based in Seoul, South Korea with over 20
years experience introducing and marketing urology products throughout South
Korea. Suntek's extensive expertise in urology includes relationships such as
MedTronic, American Medical Systems Inc., Laborie Medical Technologies Inc. and
Olympus's Gyrus ACMI.
"Our non-invasive URO NIRS 2000 technology has the potential to change the
diagnosis of urinary conditions globally and Suntek has an outstanding
reputation for introducing products and working with key opinion leaders in
South Korea," said Barry Allen, CEO of Urodynamix. "Suntek has the proven
ability to effectively register and market our technology. The addition of this
strong regional distributor is part of a strategy to enhance our existing
worldwide distribution agreements."
"Suntek has been a leader in urodynamics and our sales force is looking forward
to introducing and promoting this exciting new technology," said Chong Young
Park, President of Suntek. "This new technology will help provide a faster and
more flexible approach to bladder monitoring."
About Suntek.
Suntek is a leader in the field of urology product distribution, having been
involved in marketing urology products throughout Korea since 1989. Suntek's key
areas of product distribution include urology, lithotripsy, andrology, OB/GYN
and surgical products. The main corporate office of Suntek is located in Seoul,
South Korea and they have 3 branch offices located throughout South Korea to
support a direct and dealer sales network.
About Urodynamix Technologies Ltd.
Urodynamix Technologies Ltd. is a Canadian medical device company developing and
commercializing non-invasive medical technology based on proprietary
applications of near-infrared spectroscopy (NIRS). The Company is currently
focused on products that aid in the diagnosis and treatment of urinary
incontinence, lower urinary tract symptoms, prostate cancer, benign prostatic
hyperplasia, and traumatic increases in intra-abdominal pressure that cause
abdominal compartment syndrome. Urodynamix's breakthrough medical technology has
the potential to beneficially affect more than 200 million people worldwide.
Certain information contained in this press release may be forward-looking and
is subject to unknown risks, which could cause actual results to differ
materially from those set forth or implied herein. Although the Company believes
that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove correct.
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