In connection with the agreement, Vista Company has received a material initial order from Richard Wolf for systems of various configurations with deliveries scheduled to start in the first quarter of the year 2000. Vista has equally stated that it had previously delivered demonstration systems to Richard Wolf, for application in customer evaluations and at major medical meetings, such as the Annual Congress of the American College of Surgeons and MEDICA 1999.
Offering comment on the alliance, John R. Lyon, Vista's President and Chief Executive Officer, claimed that the company is delighted to have concluded this agreement with Richard Wolf, that is one of the world's largest and most respected full line endoscopy companies. Launching Vista's products into the biggest of the potential market segments for this technology: general surgery, gynaecology and urology, and having them presented to customers as part of a total minimally invasive system solution, through a distribution channel of such excellent reputation is a key milestone for Vista, according to Mr. Lyon.
Vista Medical Technologies develops, manufactures and markets proprietary 3D visualisation and information systems which provide information to the doctors performing minimally invasive cardio-thoracic, head, neck and spine, general surgical and other selected micro-surgical procedures. Vista's novel technology platform provides a 3D visualisation solution, with information from a variety of sources integrated into a format which offers the surgeon a clear view of the anatomy supported by the data necessary to facilitate real time decision making during surgery.
Vista Company's Head Mounted Display and image acquisition technology furnish a solution to the inherent vision restrictions and demands made by minimally invasive microsurgery experts. The company also manufactures compact, high resolution endoscopic cameras under its own label and for selected Original Equipment Manufacturer (OEM) customers. Vista Medical Technologies is being traded on the NASDAQ National Market, under the stock symbol VMTI.