Vicor Technologies Inc. (VCRT) Signs First Exclusive Distribution Contract for the PD2i Analyzer
15 Jan 2010

On January 14, 2010 Vicor Technologies announced the sale of its first PD2i Analyzer to a US Physician. The company entered into an exclusive agreement with the medical products distribution company VF Medical LLC, according to which the PD2i Analyzer will be distributed in South Carolina, North Carolina, and the cities of Savannah and Augusta, Georgia, US. VF Medical will set up a 25-member sales team of agents with established long-term relationships with cardiologists, electrophysiologists and family practices within the distribution area.

Vicor Technolgies is a biotechnology company providing innovative non-invasive diagnostic equipment. The company uses patented, proprietary PD2i nonlinear algorithm and special software to treat patients at risk of sudden cardiac death and autonomic nervous system dysfunction. The PD2i Analyzer measures heart rate variability and enables physicians performing diagnostic tests with it to receive reimbursement under existing CPT codes.

Dr. Vance, the first physician to purchase the PD2i Analyzer for his family practice in Dillon, South Carolina, has already used it on a portfolio of patients and clearly points out the benefits of the device in terms of identifying heart problems that can otherwise remain unnoticed and thus cause risk for the patient’s health. Vicor has another two products using the PD2i nonlinear algorithm and it is anticipating that further possible applications for the method in the diagnostics and treatment of other deceases.

On January 5, 2010 Vicor announced the creation of an Information Technology department, which will be managed by two new members of the senior management: Lloyd C. Chesney, joining Vicor as Chief Technology Officer and Michael Harwitz, who will be Senior Systems Architect.

The market has also perceived the good news about Vicor Technologies and seems to acknowledge the company’s potential to increase its sales and to generate positive earnings. The highest trading price for the stock on January 14, 2010 was $0,88. Though, the stock has been quite volatile over the last months with many peaks and many downs. If the pattern persists, it can hardly be expected that the stock will still go up, a downturn over the next months seems much more probable.

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