Paradigm Medical Poised to Expand Stake in $250-Million U.S. Ophthalmic Diagnostic Device Market
December 16 2008 - 12:25PM
Business Wire
Paradigm Medical Industries, Inc. (OTCBB: PDMI.OB) has launched
several internal programs aimed at expanding its position in the
U.S. and global diagnostic ultrasound and early glaucoma detection
markets. The Company�s initial efforts are aimed directly at the
$25-million opportunity for its P60 Ultrasound BioMicroscope (UBM)
and the growing glaucoma detection markets. �We are redirecting our
efforts to reposition our leading products in the ultrasound
market, where the Company has been the premier developer of new,
high-technology devices,� said Paradigm Medical�s new President,
Stephen Davis. �Our short-term goal is focused on new design
enhancements for our three proprietary products: the P60 UBM, the
Blood Flow Analyzer� (BFA), and the LD400 autoperimeter, and
increasing sales of the Glaid-PERG throughout North America.� The
Glaid-PERG electrophysiology instrument is used for the early
detection of glaucoma. Paradigm Medical has an exclusive agreement
with LACE Elettronica srl (Rome, Italy) to distribute the latter�s
Glaid-PERG device. �We are also reinforcing other global
collaborations in the U.S., Europe and Asia,� Mr. Davis noted. �The
U.S. market for ophthalmic diagnostic ultrasound devices is over
$250 million and growing at more than 5% per year. The global
opportunity is probably double that,� Mr. Davis added. �Paradigm
Medical is also readying several new products that could be
commercialized by mid-2009. We are known in the industry as �The
UBM Company,� based on our innovation and array of ultrasound
devices for the ophthalmic and medical industries. And we remain
dedicated to not only growing our share of the market but also to
expanding the size of the market through new proprietary products
and technology.� The Company�s P60 UBM is used for viewing
structures in the eye involved with glaucoma pathologies and
surgical procedures. The Blood Flow Analyzer� is used for early
detection and treatment management of glaucoma and other retina
related diseases. The LD400 Autoperimeter is used to measure
patient visual fields to determine the severity of glaucoma and to
aid in managing the disease. Paradigm Medical Industries, Inc. is a
leader in ultrasound devices, and glaucoma detection and management
products. This press release contains statements that, if not
verifiable historic fact, may be viewed as forward-looking
statements that could predict future events and outcomes with
respect to Paradigm and its business. The predictions embodied in
these statements will involve risk and uncertainties and,
accordingly, actual results may differ significantly from the
results discussed or implied in such forward-looking statements.
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