Zecotek Medical Systems Inc.

Zecotek Medical Systems Inc.

May 03, 2007 17:00 ET

Zecotek Subsidiary Announces US$800,000 Laser Contract With Government of India

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 3, 2007) - Zecotek Medical Systems Inc. (TSX VENTURE:ZMS)(FRANKFURT:W1I) today announced that an agency of the Government of India has signed a purchase agreement to acquire over US$800,000 worth of laser products and services. Under the agreement Tekhnoscan JS Company (Tekhnoscan), whose product portfolio and intellectual property were recently acquired by Zecotek's subsidiary Zecotek Laser Systems Pte. Ltd., will supply lasers and consulting services. Tekhnoscan was selected from a group of world leading laser developers who applied for the Government of India contract. The delivery of lasers products and consulting services will be concluded within Zecotek's fiscal year ending July 31, 2007 with all revenue flowing to Zecotek Laser Systems.

"This is significant sale by Tekhnoscan and Zecotek Laser Systems," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Medical Systems. "This demonstrates the quality and competitiveness of our portfolio of cutting-edge laser technologies, products, and world class production facilities. The team from Tekhnoscan has made an immediate impact by adding their expertise in product development, manufacturing and sales to our own new designs, including our 456-nm, 488-nm lasers for biomedical applications and a new line of fiber lasers, which we anticipate to reach the market later this year."

Zecotek Laser Systems receives ongoing revenues generated from the sale of Tekhnoscan's current and future laser products in development, including future revenue generated by existing or future intellectual property which may be created under the new structure.

About Tekhnoscan

TEKHNOSCAN JS Company develops and manufactures lasers and laser-related products for a variety of scientific, technological, medical, and other applications. Tekhnoscan's main products are tuneable Ti:Sapphire and dye lasers (single-frequency, frequency-stabilized, narrow-band, intracavity frequency-doubled, pulsed, femtosecond), direct-diode-pumped Yb:KGW lasers (femtosecond, picosecond, narrow-band), and specialized laser equipment (resonant frequency doublers, scanning interferometers, auto-correlators, laser power meters, etc.). Tekhnoscan laser products are used in numerous scientific and technological organizations in Russia, Germany, France, Switzerland, Japan, China, South Korea, Canada, the United States, and other countries. Tekhnosan is located in Novosibirsk, Russia. For more information visit: www.tekhnoscan.ru.

About Zecotek

Zecotek Medical Systems (TSX VENTURE:ZMS)(FRANKFURT:W1I) is a bio-photonics technology company developing high-performance crystals, photo detectors, medical lasers, optical imaging and 3D display technologies for commercial applications in the medical diagnostics and high-tech industry. Founded in 2003, the company has three distinct operating divisions: medical imaging, medical lasers and 3D display and labs located in Canada, Singapore and Russia. Zecotek commercializes its novel, patented and patent-pending bio-photonic technologies directly and through strategic alliances and joint ventures with multinational OEMs, distributors and other industry leaders.

This press release may contain forward-looking statements that are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.

For additional information on Zecotek Medical Systems and our technologies please see our website at www.zecotekmed.com.

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Contact Information

  • Zecotek Medical Systems Inc.
    Michael Minder
    CFO; VP Corporate Development
    (604) 827-5203
    Caliber Capital Partners
    Tim Mcnulty
    (778) 327-6678
    Email: ir@zecotek.com
    Website: www.zecotekmed.com