Zecotek Subsidiary Signs Letters of Intent to Acquire Product and Intellectual Property Assets of Two Laser Manufacturers
Vancouver, BC – February 27, 2007 – Zecotek Medical Systems Inc. (TSX-V: ZMS; Frankfurt: W1I.F) today announced that Zecotek Laser Systems Singapore Pte Ltd., a wholly-owned subsidiary, has signed two separate letters of intent (LOI) with two Russian-based laser manufacturers to acquire exclusive rights to certain assets and expertise in consideration for minority interests in Zecotek Laser Systems Singapore. Zecotek Laser Systems Singapore has signed LOI’s with Inversion Fiber Co Ltd (Inversion) and Tekhnoscan JS Company (Tekhnoscan), both of the prestigious academic city of Novosibirsk, Russia. The closing of the proposed transactions is expected to occur within 45 days, pending satisfactory completion of due diligence and completion of definitive agreements with each party.
“The acquisition of these leading laser manufacturers will bring together a critical mass of world-class laser scientists, product development expertise, innovative technologies and proven product and production facilities under a single management team” said Dr. Faouzi Zerrouk, Zecotek’s Chairman, President and Chief Executive Officer. “The combined assets of our three companies will form the core of a truly world-class laser enterprise and significantly accelerate the time to market of our pipeline of new laser technologies and products.”
The acquisitions mark an important milestone is Zecotek’s objective of becoming a leading bio-photonic company. The combined entity brings together significant production, manufacturing and marketing expertise in the laser industry and will contribute immediately by adding unique product lines and global distribution. The addition of production and manufacturing expertise will also accelerate market entry of Zecotek’s line of laser crystal and laser system products which are in the final stages of commercial development including: diode-pumped solid state lasers and fiber lasers for use in the bio-instrumentation, dentistry, and ophthalmology industries. Moving forward, Zecotek expects that the combined portfolio of products will be assembled and tested at Zecotek’s new Singapore facilities and distributed under the Zecotek label. The transactions also include exclusive rights to all works in progress and intellectual property emerging from both Inversion and Tekhnoscan’s new product development programs. Key management staff of both companies, including Dr. Sergey Babin, of Inversion and Dr. Seguei Kobtsev of Tekhnoscan, will be joining the executive management and production team of Zecotek Laser Systems Singapore.
This transaction is subject to TSX Venture Exchange approval.
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About Inversion
Inversion Fiber Co. Ltd. develops and manufactures advanced fiber lasers for application in fundamental research, material processing, holography, image recording, printing, medicine, bioinstrumentation and others. Fiber lasers are reliable and high-powered with high beam quality, compact and adjustment-free design, no water cooling and other customer-friendly features. Inversion’s product line includes high-power Argon/Krypton lasers generating in UV, blue-green, and yellow-red spectrum ranges (e.g. 1W 244 nm Ar laser for use in fiber Bragg grating technology). The company also produces fiber lasers in the infra-red and green spectrum ranges, including tuneable Yb-doped and Raman fiber lasers, single-frequency and frequency-doubled Yb-doped fiber lasers. Inversion is in the advanced development stage for various blue-green fiber lasers as a future alternative to noble-gas and DPSS lasers. Inversion’s products are used in many research institutes and companies in Russia, Germany, China, South Korea, Canada, he United States and other countries. Inversion is located in Novosibirsk, Russia.
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. Tecknosan is located in Novosibirsk, Russia. For more information visit: www.tekhnoscan.ru.
About Zecotek
Zecotek Medical Systems (TSX-Venture - ZMS; Frankfurt- W1I.F) 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 Zecotek Photonics.
For additional information please contact:
MICHAEL MINDER
CFO; VP Corporate Development
T: (604) 827-5203
E: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future, please email [email protected] and mention “ZMS News” in the subject heading or visit the corporate website at Zecotek Photonics.