|Viking Systems set to move|
|By Patrick Crutcher|
|Thursday, 07 October 2010 06:16|
This innovative medical imaging company recently obtained FDA approval for it's progressive imaging system and the industry is buzzing about their visual technology platform for surgeons. Viking Systems, Inc. (OTC:VKNG) is a profitable small cap company in the healthcare sector entering full commercialization. With upcoming news catalysts, there is strong reason to believe that shares can propel upward from these levels.
Unlike most micro-cap stocks,Viking Systems does not have an overwhelming number of shares in the float and it's market cap stands at only $26M (or $0.49 pps). The company has great working relationships with Sony (co-marketers) and Boston Scientific. They recently got FDA approval of their Next Generation 3DHD visualization system for minimally invasive surgeries. Positive things are happening at VKNG and more catalysts are on the horizon in 2010.
Notably, they launched their product earlier this week at the American College of Surgeons Clinical Congress (ACS) in Washington DC; a major medical conference that brought together roughly 9,000 domestic and international surgeons. With several other large medical conference exhibits and co-marketing plans with Sony, VKNG built brand awareness. At a splashy media event sponsored by Sony, they recently demonstrated the 3DHD capabilties of VKNG’s 3DHD Surgical vision system (which uses Sony’s 3D LCD panels) for key consumer and medical trade media.
Jed Kennedy, Viking Systems President & CEO stated, "The overwhelming response to our Next Generation System was very gratifying. Surgeon after surgeon praised the product and quickly identified the potential benefits to their surgical procedures in using this system."
This morning, the company reported today that it has officially launched its Next Generation 3DHD Visualization System also announced today its first distribution partners for the new system.Surgioscopy, Cunningham Woodland, Inc. and American Surgical, Inc. to cover specific territories within the United States. Combined these distribution partners provide 35 sales representatives covering 31 states within the United States. The Company plans to launch even more distribution coverage agreements in the U.S. in the coming months.
Viking Systems announced that it has entered into a distribution agreement with Guangdong Medical Equipment Industrial Company covering the People's Republic of China with a sales force, through its affiliated partners, of approximately 500 sales representatives and 18 territory managers. Additionally, the Company today reported that it has also entered into distribution agreements for the Next Generation 3DHD system with distribution partners covering Italy, France, Korea, and Turkey. As part of the agreements, distributors are required to purchase 3DHD demonstration systems enabling them to present all features of the system in clinical evaluations.
Let us not forget that VKNG expects to receive their CE mark in Europe sometime in Q4 2010.
Jed Kennedy said, "We are extraordinarily pleased with the quality of the distributors we have partnered with in this first phase of our distribution strategy and with the distributors' significant financial commitments to purchase demonstration equipment in order to assure success in their markets." Kennedy went on to say, "Clinical demonstrations in the OR are a key step in the sales process of surgical video systems and our distributor network will be well equipped to successfully demonstrate Viking's 3DHD Surgical Vision System resulting in system sales."
Viking currently has commitments from distributors to purchase 20 Next Generation 3DHD demonstration systems. The company plans to begin shipping the initial demonstration systems during the fourth quarter of 2010. These demonstration systems, which are critical to the sales process and are not intended for resale, are priced at a substantial discount to the distributors' agreed upon regular purchase price for resalable systems.
Last November we Covered the Company in detail: http://biomedreports.com/articles/most-popular/18023-undervalued-and-breaking-new-ground-otcvkng.html
Disclosure: Long VKNG