SOURCE: Solutions Group Inc.

Solutions Group Inc.

December 14, 2009 16:55 ET

Solutions Group Announces Award of Contract for Feasibility Study of New Medical Technology

SANTA BARBARA, CA--(Marketwire - December 14, 2009) - Santa Barbara-based Solutions Group Inc. (PINKSHEETS: SOLU) announced that it has been awarded a contract from CrowleyJones to head up a team that will study the feasibility of a ground-breaking technology for use in a new medical application.

The contract, which covers the viability of the technology for the specific application, manufacturability, and probability of FDA approval, is scheduled to be completed in the first quarter of 2010. Upon successful completion of the proof of concept, parties have agreed to terms of a follow-up contract for the development stage of the product which will include an equity position for SGI.

Due to the complexity of the technology, SGI will be working closely with Dr. Steven Robert Biegalski {PRIVATE}, P.E., Director; Nuclear Engineering Teaching Laboratory at The University of Texas at Austin, to ensure the success of the project.

Terry Jones, Managing Director of CrowleyJones, stated, "Solutions Group has presented an innovative solution to a medical problem with a significant market for us. We look forward to working with them on this proof the concept stage, and to moving on to the engineering and manufacturing of the product."

Sean O'Neil, Solutions Group CEO, stated, "It is exciting to work with this experienced team on this new medical device."

CrowleyJones develops, manufactures and distributes innovative and functional products. The company holds a diverse IP portfolio of "Best in Class" products that are distributed worldwide through First Tier sales channels, including retail dealers and direct response consumer markets. More information on CrowleyJones be can found at

About Solutions Group:

Solutions Group is an international provider of Managed Engineering Services. The Company seamlessly integrates its regional design centers in North America with its lower cost off-shore engineering locations in Romania and Mexico to provide exceptional blended pricing solutions and reduced product design cycle times. Solutions Group creates greater value for its shareholders by leveraging its core engineering competencies into other opportunities including royalty partnerships, intellectual property creation and selective acquisitions. SGI's customers currently include major Fortune 500 companies, small and mid-range OEMs and early stage product companies.

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This press release contains forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, particularly those statements regarding the effects of the proposed transaction and those preceded by, followed by or that otherwise include the words, "believes," "expects," "anticipates," "intends," "estimates," or similar expressions. Forward-looking statements relating to expectations about future results or events are based upon information available to The Company as of today's date, and The Company does not assume any obligations to update any of these statements. The forward-looking statements are not guarantees of the future performance of The Company and actual results may vary materially from the results and expectations discussed.

Contact Information

  • Contact:

    Solutions Group, Inc.
    Kim Carroll
    Investor Relations
    +1 949 630 9831

    World Market Media, Inc.
    Executive Editor
    +1 877 801 8408