SAN DIEGO, June 13, 2007 (PRIME NEWSWIRE) -- Viking Systems, Inc. (OTCBB:VKSY), a designer, manufacturer and marketer of high-performance vision systems and solutions for use in minimally invasive surgical (MIS) procedures, has appointed Robert F. Mathews, age 43, to the position of executive vice president and chief financial officer of the Company. Reporting to Viking's president and chief executive officer, Donald E. Tucker, Mr. Mathews will assume direct responsibility for all of Viking's financial activities and will work closely with other members of Viking's senior management team on a number of strategic initiatives.
Prior to joining the Viking Systems' team, Mathews 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.
"Rob's strong leadership and industry experience, as well his corporate finance, operational and management acumen, make him an excellent choice to be Viking's new CFO," said Donald E. Tucker, President and CEO of Viking Systems. "With his demonstrated track record of growing successful companies, driving operational efficiencies, and building shareholder value, Rob will be an important addition to Viking as we position the Company to achieve further growth. We are very pleased to have him join the Viking management team." Mr Tucker added, "Rob understands the business of Viking, and most importantly, he has experienced first-hand, and with direct knowledge of our industry and markets, the path and focus needed to drive growth and shareholder value. He comes to Viking Systems from two previous companies where integrated high-valued medical solutions were critical to success. His experience and knowledge are directly applicable to what Viking Systems is today, and where we are going as a company."
About Viking Systems, Inc.
Viking Systems, Inc. is a designer, manufacturer and marketer of FDA-cleared, CE-marked, high-performance laparoscopic vision systems. The Company's primary branded product is the 3Di Vision System, an advanced three-dimensional (3D) vision system used by surgeons for complex minimally invasive surgery, with a clinical focus on applications in urology, gynecology, cardiac, spinal, cranial/ENT, pediatrics, bariatrics and general surgery. Viking also manufactures advanced two-dimensional (2D) 2Di Digital Vision Systems and custom integrated vision solutions for targeted configurations and channels, sold through strategic partners and ODM programs.
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding Viking's goals, its prospects for growth and its marketing efforts. Risks that contribute to the uncertain nature of the forward-looking statements include: risks related to the effectiveness of its marketing program, its ability to continue to obtain funding, its ability to maintain sales momentum, and costs associated with internal development, partnership and in-licensing activities. These and other risks and uncertainties are described more fully in Viking's most recently filed SEC documents, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors." All forward-looking statements contained in this press release speak only as of the date on which they were made. Viking undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.