Thursday, September 22, 2011

Viking Systems, Inc. (VKNG) Announces Changes in Alliances for Selling 3DHD Vision Systems in US

Viking Systems, Inc., a company that develops, manufactures, and markets visualization solutions for minimally invasive surgery and offers 3Di Vision System under the Viking brand, has announced changes in its alliances for selling 3DHD Vision Systems in the U.S.

The company reported that it has entered a distribution agreement with EndoResolution LLC to sell the Company’s 3DHD Vision Systems in 14 Midwestern states, along with Colorado, Southern California, Hawaii, and Arizona. The previous distributor for the Midwestern states, Surgioscopy Inc, has joined with EndoResolution and will continue to be a vital part of the sales effort in portions of this territory.

Viking Systems has also entered into agreements with three independent sales representatives to sell the 3DHD Vision Systems within individual territories, which cover New England, Long Island, Upstate New York, New York City, South Carolina, and Georgia. The three principals of these three firms have more than 50 years of combined experience selling surgical vision systems.

Viking Systems has restructured its distribution agreement with American Surgical, lessening the territory covered by American Surgical to Tennessee, Alabama, Mississippi, and Florida.

The Company no longer holds a distribution relationship with Cunningham and Woodland, the previous 3DHD distributor in numerous Northeastern states.

EndoResolution was recently created by numerous experienced healthcare executives solely for the distribution of Viking’s 3DHD Vision System. Warren Pelissier, President of ACOM Healthcare and a Partner in EndoResolution, said, “We performed extensive diligence and are convinced that Viking Systems’ 3DHD Vision System is an exciting breakthrough technology with the potential to change the standard of care in performing complex minimally invasive surgical procedures. We see a substantial market opportunity and believe our team’s experience in bringing surgical products to market will accelerate the market awareness and adoption of the technology.”

Jed Kennedy, Viking Systems’ President and CEO said, “We believe the changes made to our US distribution will greatly improve our ability to drive market adoption of our 3DHD Vision System in the United States. Adding quality partners like EndoResolution with its experienced management team provides critical sales support needed in selling high-end hospital capital equipment to complement Surgioscopy’s clinical work. We are very excited to have EndoResolution on board and look forward to working with them. We believe they can quickly build upon the successful groundwork put in place by Surgioscopy over the last nine months and accelerate closing the various deals currently in-process in that territory. Additionally, EndoResolution brings key contacts and customer access in several new states for us.”

Kennedy stated, “At the same time, we are equally enthused about our newly-formed relationships with three seasoned independent sales representatives who bring with them long established hospital and surgeon relationships in their respective territories and who will be selling the product on a commission basis.”

Kennedy concluded, “We now have 30 sales professionals presenting the Viking 3DHD Vision System, covering most major markets in the US with ten demo systems available for clinical demonstrations to interested surgeons and hospitals. By year end we expect the number of sales professionals representing our product in the US to be approximately 50 with 20 demo systems available to them.”

For more information on Viking Systems, Inc., visit their Company website at www.vikingsystems.com

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