SOURCE: Paradigm Medical Industries, Inc.

March 05, 2010 08:00 ET

Paradigm Medical Announces

SALT LAKE CITY, UT--(Marketwire - March 5, 2010) - Paradigm Medical Industries, Inc. (PINKSHEETS: PDMI) announced today that it has been notified by its Italian partner, Costruzione Strumenti Oftalmici (CSO), that all necessary documents have been completed and submitted to the United States Food and Drug Administration (FDA) for the Retimax™, also known as the Paramax. Paradigm is the exclusive representative for this significant new product in the U.S. market. "This new innovative device offers the earliest detection of glaucoma currently available and will be an excellent addition to Paradigm's glaucoma diagnostic products," said Stephen Davis, Paradigm's President and Chief Executive Officer.

The Paramax (as it will be known in the United States) represents the third product that Paradigm represents for CSO. Paradigm also represents CSO's impressive corneal topographer, to be known in the U.S. as the Paravue 300, and CSO's corneal topographer with Scheimpflug rotating camera, to be known in the U.S. as the Surveyor 500. The Surveyor 500 with the Scheimpflug camera allows for the complete analysis of the entire cornea and anterior segment of the eye. Paradigm plans to begin active promotion of the Paravue 300 and the Surveyor 500 and will actively promote the Paramax immediately after it has received FDA approval.

About Paradigm Medical Industries, Inc.

Headquartered in Salt Lake City, Utah, Paradigm Medical Industries, Inc. is a medical device company that develops, manufactures and distributes ophthalmic diagnostic instruments and related products for early detection of glaucoma and other eye disorders. The Company's primary objective is to capture a niche market within the glaucoma and ultrasound microscopy fields. Paradigm Medical Industries markets its products to ophthalmologists, optometrists, universities, and clinics throughout the United States and internationally.

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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Contact Information

  • Contact:
    Paradigm Medical Industries, Inc.
    Stephen L. Davis
    President and Chief Executive Officer