Vicor Technologies, Inc., a development-stage biotechnology company specializing in innovative, non-invasive diagnostics, recently announced that the company has entered into an exclusive distributorship agreement with Glotecx, Inc. for the distribution of its PD2i Cardiac Analyzer. This agreement grants Glotecx, Inc., a global provider of state-of-the-art medical equipment, the exclusive right to purchase, inventory, promote and resell the private label Vicor PD2i Cardiac Analyzer, and accompanying computer hardware and test analyses in India, Kenya, Uganda, Tanzania and Nigeria.
Vicor Technologiesâ€™ patented and proprietary PD2i algorithm and software assists patients at risk of sudden cardiac death (SCD) and trauma victims in need of life saving intervention. According to the terms of the agreement that will commence on October 1, 2009, Glotecx guarantees to pre-pay Vicor for a pre-determined minimum amount of equipment and test analyses, with payment for equipment and test analyses in excess of the minimum guaranteed amount payable monthly.
David H. Fater, chief executive officer of Vicor Technologies, stated, â€œWe are pleased to have entered into this international distribution agreement with Glotecx. Glotecx is a leading provider of cutting-edge medical equipment to nations worldwide and is extremely well positioned in the countries covered by this agreement.â€ Mr. Fater continued, â€œConsequently, we are confident that our PD2i Cardiac Analyzer will be well-represented and distributed widely in the countries covered by this agreement. Most importantly, with pre-payment for a minimum amount of equipment and test analyses guaranteed, Vicor should achieve another milestone — commencement of revenue generation — during the fourth quarter of 2009.â€