Monday, June 20, 2011

Viking Systems, Inc. (VKNG) is “One to Watch”

Viking Systems, Inc. is a leading global developer, manufacturer and marketer of 3D and 2D visualization solutions for complex minimally invasive surgery. The Company actively markets and sells the only stand-alone, FDA cleared, cost-effective 3D system for use in minimally invasive laparoscopic surgery. In addition, they manufacture advanced two-dimensional (2D) vision systems for targeted configurations and channels, and 2D cameras and components, sold through strategic partner and original equipment manufacturer (OEM) programs.

Viking Systems, Inc. has their corporate headquarters and operations in Westborough, Massachusetts. Their commitment is to vision and information solutions that improve clinical outcomes, increase efficiency and expand minimally invasive surgical treatments. They partner with medical device companies and healthcare facilities to provide surgeons with proprietary visualization systems.

The Company’s Viking 3DHD Vision System delivers state-of-the-art 3D vision with natural depth perception and tactile sensation during minimally invasive surgery (MIS). It delivers the single most critical benefits of robotic technology, which is 3D vision. However, it delivers this benefit without the high cost of equipment, high procedure costs, extensive training or a long learning curve.

The Viking 3DHD has applications in urologic, gynecologic, bariatric, cardiac, neurologic and general surgery. The Company released their 3DHD Vision System in the fourth quarter of 2010. They started shipments in December of 2010.

In May, Viking Systems, Inc. reported that their 3DHD Vision System was used in the first human surgery utilizing Terumo’s Kymerax™ Precision Drive Articulating Surgical System. Professor Gunter Janetschek, Medical University Salzburg (Department of Urology) on May 10, 2011, performed two successful procedures. The first case was a nephrectomy and the second case was a partial nephrectomy. Both surgeries were successful and the patients are doing well.

Last week, Viking Systems, Inc. announced that they added three new members to their Board of Directors. This increases the number of directors to six. The new directors are Joseph A. De Perio, Hooks K. Johnston and Amy S. Paul.

Jed Kennedy, Viking Systems’ President and CEO, said, “We are very pleased to announce these additions to our Board of Directors. We believe each of these new directors bring valuable insight and experience to our board, including industry and financial expertise. We look forward to working with them as we continue to pursue our growth strategy, increase our marketing efforts, and build awareness of the advantages of our new 3DHD Vision System.”

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