Criticare Systems, Inc. Announces Agreement With Medex
Business Editors/Medical Writers
MILWAUKEE--(BUSINESS WIRE)--June 20, 2002--CRITICARE SYSTEMS, INC.(CSI)(NASDAQ-NMS: CXIM) today announced it has entered into a manufacturing and distribution agreement with Medex Corporation (OTCBB: MDEX) for countries within the Black Sea Economic Zone. Under the terms of the agreement, CSI product will be assembled in Romania and distributed exclusively by Medex to certain countries in the Black Sea Economic Zone. This is a region of nearly 200 million people that includes countries such as Romania, Bulgaria, Ukraine, Belarus, Greece, Turkey, Serbia, Croatia, Slovenia, Slovakia and Hungary. The Medex Management team brings decades of experience in foreign trade, international healthcare and past success in bringing U.S. based medical technologies into these high growth, developing markets. Additionally, Medex owns and operates an Imaging Diagnostic Center in Romania and plans to implement other centers throughout these regions.
CSI President Emil Soika stated "We are very excited to be associated with the Medex team. Their expertise in providing innovative healthcare solutions to the national governments of these regions provides CSI with an outstanding growth opportunity. Sales and in-service of CSI products began this month with manufacturing to follow."
CSI (www.csiusa.com) designs, manufactures, and markets cost-effective patient monitoring systems and noninvasive sensors for a wide range of hospitals and alternate health care environments throughout the world.
This press release contains forward-looking statements. Such statements refer to the company's beliefs and expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described. Such uncertainties include, but are not limited to, the timely completion of new products, regulatory approvals for new products, the risk of new and better technologies, risks relating to international markets, as well as general conditions and competition in the company's markets. Other risks are set forth in CSI's reports and documents filed from time to time with the Securities and Exchange Commission.