· Viking Systems, Inc. is a designer, manufacturer and marketer of FDA-cleared, CE-marked, high-performance laparoscopic vision systems.
· Intellectual property consists of 25 exclusive US & International patents.
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Viking Systems, Inc. (VKNG.OB) is a publicly owned designer, manufacturer and marketer of high-performance laparoscopic vision systems. The Company's flagship product is the 3Di Vision System, an advanced three-dimensional (3D) vision system used by surgeons for minimally invasive surgery (MIS). For the first time, surgeons are now offered 3D visualization, voice-activated access to clinical information and complete freedom of movement during MIS. These features enable surgeons to perform complex MIS procedures more confidently, allowing more patients to realize the benefits of minimally invasive techniques.
Viking also manufactures advanced two-dimensional (2D) vision systems for targeted configurations and channels, as well as 2D cameras and components, sold through strategic partner and OEM programs.
The Company is currently developing a portfolio of targeted technologies and services that serve the current and emerging needs of the minimally invasive surgical network. Viking's mission is to deliver visualization, integrated information and control solutions to the surgical team, enhancing their performance in MIS and complex surgical procedures.
Share Structure Per 10-K filed 22 Feb 2010:
Authorized Shares (AS) = 400,000,000 Shares
Outstanding Shares (OS) = 57,989,090 Shares (as of 10/04/2010)
Restricted Shares = 36,033,138 Shares
Float = 9,323,627 Shares
There are no Preferred Shares issued.
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Intuitive Surgical, Inc. trades on the NASDAQ at over $293.00+ per share under the ticker of ISRG:
Boston Scientific Corporation trades on the NYSE at over $5.00+ per share under the ticker of BSX:
Viking Systems and Boston Scientific Extend Supply Contract Through May 2012
Medtronic trades on the NYSE at over $34.00+ per share under the ticker of MDT:
VKNG DD Posts
VKNG SEC Filings
Bullets from recent Annual Report:
-As of December 31, 2008, we believe more than 100 of our proprietary visualization systems were in service worldwide. Moreover, we have sold more than 1,300 2D digital cameras to ODM/OEM partners, including Boston Scientific Corporation (“Boston Scientific”) and Medtronic, Inc. (“Medtronic”). Our ODM products are jointly designed with our partners to meet their exact specifications for their particular market.
-The ODM/OEM business has provided us with a recurring source of revenue and has been a source of growth. We are the strategic visualization supplier and partner for several leading procedure-specific medical device manufacturers such as B. Braun, Richard Wolf, Boston Scientific, Medtronic and Biomet, Inc. We have sold over four thousand 2D digital cameras, accessories and unique visualization solutions to our ODM/OEM partners, and in 2007 and 2008 ODM/OEM sales accounted for approximately $5,235,000 and $5,137,000 in revenue, respectively.
-Although competition exists for aspects of our visualization product line, we believe that no single company offers a complete and independent 3D visualization and information solution specifically directed at complex minimally invasive procedures. In addition, we are not aware of any other true 3D PHD that has been cleared for marketing in surgical applications by the FDA.
-A separate high end segment of the visualization technology market is fully immersive 3D-vision-enabled robotics, in particular Intuitive Surgical’s daVinci System, which generally sells for up to $1,500,000 per system and requires disposables that cost the hospital up to an estimated $1,500 to $3,000 per procedure. We do not compete in this segment. Although the robotic technologies provided by companies such as Intuitive Surgical, Inc., with its proprietary da Vinci system, incorporate 3D vision capabilities into their systems, our products are not in direct competition with these products. Rather, our strategy is to offer standalone 3D vision capability at a base price of $100,000 to $150,000.
William C. Bopp
Mr. William C. Bopp was appointed Chief Executive Officer of Viking Systems, Inc. effective January 4, 2008. Prior to joining Viking, Mr. Bopp was a private investor. Previously he was with ALARIS Medical Systems, Inc., a developer, manufacturer and marketer of infusion devices and related disposable products, where he had been senior vice president and chief financial officer. Mr. Bopp joined ALARIS in March 1999, as vice president and chief financial officer. He was elected to the position of senior vice president and chief financial officer in November 1999. ALARIS was acquired for approximately $2.0 billion by Cardinal Health, Inc. in July 2004, and Mr. Bopp assisted for an additional year with the integration of ALARIS into Cardinal Health before retiring in 2005. Mr. Bopp was formerly executive vice president and chief financial officer of C.R. Bard, Inc. Since 1980, he held positions of increasing responsibility with Bard, currently a $2.0 billion developer, manufacturer and marketer of health care products. From 1995 through 1998, he also served as a member of the Board of Directors of Bard and a member of the Finance Committee of the Board. Mr. Bopp is a graduate of Harvard College, Cambridge, MA, and completed his MBA, Finance, from the Harvard Business School.
John “Jed” Kennedy
Mr. Kennedy is the president and chief operating officer of Viking Systems. Mr. Kennedy joined Vista Medical in January 1997 as vice president of research and development. He was appointed vice president/general manager of Westborough operations in January 2000 before being appointed executive vice president and COO in December 2000. Prior to joining Vista, Mr. Kennedy held various positions in manufacturing, quality engineering and product development at Smith & Nephew Endoscopy from 1984 through January 1997. From 1996 through January 1997 he was the group director of product development responsible for managing all divisional product development activities. From 1993 through 1996, Mr. Kennedy was director, research and development responsible for the management of four technology product development groups. Prior to 1984, he held various engineering positions at Honeywell’s Electro-Optics and Avionics divisions. Mr. Kennedy received a B.S. in Manufacturing Engineering from Boston University in 1979.
Prior to joining the Viking Systems’ team as the Chief Financial Officer, he was senior vice president and chief financial officer at Cardinal Health’s Clinical Technologies and Services (CTS) segment, where he was responsible for the Global Finance function across all of CTS businesses. At its formation, CTS had annual revenues of approximately $2.5 billion and approximately 8,000 employees. Before joining Cardinal Health, Mr. Mathews was with Alaris Medical Systems. Mr. Mathews, then vice president of finance, chief accounting officer, and executive committee member, was responsible for developing, implementing and managing the operational and financial strategy of Alaris. During his tenure, Mathews helped lead a successful and comprehensive strategy that would result in significant shareholder value improvement, and ultimately the successful sale of Alaris to Cardinal Health for $2 billion in an all cash transaction. Mr. Mathews, who began his career at PriceWaterhouse, earned his Bachelor of Science degree from San Diego State University where he majored in business administration with an emphasis in accounting.
Board of Directors
William C. Bopp
Director, Chairman of the Board
John ”Jed” Kennedy
Director, President and Chief Operating Officer
William T. Tumber
VKNG Contact Info
Viking Systems, Inc.
134 Flanders Road
Westborough, MA 01581
Web Site: http://www.vikingsystems.com
VKNG Transfer Agent
Fidelity Transfer Company
1800 South West Temple
Salt Lake City, UT 84115