VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 04/10/08 -- Meridian Co., Ltd. (OTCBB: MRDAF) is engaged in the research, development, manufacturing and sales of advanced medical equipment. Meridian would like to take this opportunity to provide a corporate update and to thank its customers and shareholders for their unwavering support and commitment to Meridian over the past several years.As part of Meridian's continued commitment to global expansion we are proud to introduce a new team member, Dr. Jonas LaForge. He is trained and certified in the use of aesthetic laser technologies for the purpose of body contouring and inch loss. Dr. Jonas LaForge currently holds the position of Director of Medical and Technical Sales at Meridian Medical Inc. His extensive leadership in anti-aging and aesthetic medicine, his experience in aesthetic training, and his knowledge and enthusiasm of the aesthetic market combine to make him uniquely qualified to lead the Lapex-2000 LipoLaser division of Meridian. Dr. LaForge will be travelling to Mexico next week to meet with Meridian's distributor, World Scientific Instrument with the purpose of training over 20 physicians on the use of low-level laser for body contouring.
The Company is moving forward at an exciting pace as it has achieved major milestones over the past year and looks forward to continued expansion as it implements its global strategy for 2008 and 2009.
Lapex-2000 LipoLaser / Lapex BCS ("Body Contouring System")
In 2007, Meridian received regulatory approval from both the European Union (CE) and Health Canada for the Lapex-2000 LipoLaser - Meridian's innovative low-level laser body contouring device. Meridian has taken this important milestone in its product development to further expand the LipoLaser launch worldwide. Currently, the Company has established a strong foothold in the United Kingdom, Canada, France, Turkey, the Persian Gulf and Asia along with continued interest from many other EU countries. In this regards, Mr. John Myoung, Meridian's International Sales Director, will be meeting with several large, well-known European medical distributors while attending the "COSMO PROF" international tradeshow in Bologna, Italy later this month. Based on current sales leads, Mr. Myoung, expects to close sales contracts with companies operating in Sweden, Italy, Spain and possibly Germany at that time.
Meridian would like this chance to address the unexpected delays of FDA 510 (k) clearance for the LipoLaser in the United States. Meridian has retained the most highly regarded FDA legal and procedural consultants available to ensure a satisfactory conclusion within a reasonably acceptable time frame. There were some unexpected delays due to the uniqueness of the indication for use. Based on confidence shown by other International Regulatory Bodies, including European Economics Community Clearance (CE) and Health Canada, combined with a prompt response to all queries from the FDA, we look forward to updating our shareholders with favorable results in the very near future.
In anticipation of final FDA approval, Meridian has already begun to establish important sales and distribution leads in the United States and has developed plans to launch an aggressive campaign and fulfill pending orders.
Digital Pulse Analyzer (DPA)
Meridian Co., Ltd. has recently signed a supply contract with HanLim Pharmaceutic Company to supply DPA to pharmacy chains throughout Korea and is actively pursuing strong interest from within the European Union. In May 2008, John Myoung, Meridian's International Sales Director, will be travelling to Portugal to meet with several large, well-known European medical distributors while attending an international anti-aging conference. Meridian is expecting this to coincide with the issuance of the CE/MDD approval for this device allowing for further expansion throughout the European Union.
Meridian's Manufacturing Operation and Supply Chain
Meridian has made significant improvements to its entire manufacturing operation to enable seamless delivery to its worldwide client base. The Company has secured contracts with all of its suppliers and vendors to ensure timely delivery of materials. Updated software and inventory systems have been installed to ensure maximum client value and service.
Meridian in the Media
The company continues to gain both media and investment interest for its non-invasive technologies that will drive sales and increase revenue. Meridian's anticipated revenue projections for 2008 are anticipated to be US$22 million.
More About: Meridian
Meridian is an established leader in the research/development, manufacturing and sales of advanced medical devices in the healthcare industry. With a dynamic research and development team, Meridian is at the forefront in the development of cutting edge medical technologies. The Company presently holds a total of 5 patents on its technology, and has received FDA approval and Health Canada approval as well as other international regulatory approvals, for many of its products. Meridian has over 2000 clients including physicians, hospitals, clinics, healthcare professionals, and wellness centers in Korea, USA, Canada, China, Japan and Europe. Meridian continues to successfully market its superior product line to a growing number of clients worldwide.
On Behalf of the Board of Directors,
Hyeon Seong Meyong, President
This press release may contain certain forward-looking information and statements concerning the company's operations, performance and financial condition. These statements are based upon a number of uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. This document is not intended to be and is not an advertisement for any securities of the Company.
Contacts:
Meridian Co., Ltd.
Peter Holeczek
Corporate Communications
1-877-738-8119
Website: www.meridianmedical.ca