April 2, 2009
Urodynamix Expands
Asian Distribution of URO NIRS 2000
VANCOUVER, British Columbia,
April 2, 2009 - Urodynamix Technologies
Ltd. (TSX-V: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 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. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Jonathan Jackson
Chief Financial Officer
Urodynamix Technologies Ltd.
Tel: (604) 638-0248
Email: jjackson@urodynamix.com
www.urodynamix.com
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