VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2008) - Pyng Medical Corp. (TSX VENTURE:PYT) has shipped an initial order of 200 FAST1(R) Sternal Intraosseous Infusion Systems for use by the German military, transacted through a newly appointed regional German distributor, Weromed.
Pyng has recently added several additional leading European distributors including, Medicare Biomedizintechnik GmbH in Germany, Infiniti Medical in Sweden, and NGC in Italy. These three national distributors compliment an additional six new national distributors in Europe, as well as HUMED Co., Ltd in Asia and MEDDEC cc in Africa, resulting from the Company's trauma asset acquisition from Bio Cyberntics International in June of 2008. Based on his proven record of accomplishments to date, Pyng has also appointed its former European Sales Agent, Mr. Leonhard Braunizer, as the Company's new International Sales Manager.
"Mr. Braunizer has considerable experience in overseas medical device markets, and conducts business fluently in multiple languages with a broad network of national and regional distributors. With an expanded product portfolio and almost 20 distributors worldwide, Leonard's unique expertise will facilitate rapid expansion in our overseas markets," says Dave Bonar, Vice President of Sales and Marketing.
International expansion is fundamental to Pyng's continued strategic growth and diversification initiatives as the Company continues to commercialize multiple complimentary trauma and resuscitation products for several large and emerging markets.
About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Creators of the FAST1(R) Intraosseous Infusion System, Pyng's expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from LifeSciences British Columbia for its sustained achievements in commercializing the Company's proprietary FAST1(R), the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the "2007 TSX Venture 50" Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.
Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.
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Pyng Medical Corp.