SEOUL, South Korea, Nov. 21, 2005 (PRIMEZONE) -- Meridian Co., Ltd. (Meridian) (OTCBB:MRDAF) today announced that it has successfully completed delivery of 150 units of its proprietary Lipo-laser product to Rapha & Health Co., Ltd. and HealthTech Valley Co., Ltd.
These 150 units were the first half of its 300-unit order made in early September which was scheduled to be delivered by mid-November. The Lipo-laser units retail for approximately U.S. $11,000 per unit. Meridian is confident to deliver all 300 units by the end of December and plans to increase its product line of Lipo-laser to prepare for a large order in early 2006.
"We are excited about the potential increase in gross revenue from the sale of the Lipo-laser units in the last quarter of this year and into 2006. The feedback we have received thus far and the interest from other countries indicates to us that there is the potential for significant sales growth," stated Hyeon Seong Myeong, president.
Meridian also announced that it has commenced negotiations with a national health and beauty chain of stores in China for the distributor rights for the Lipo-laser line of products. Terms and conditions of the transaction will be disclosed once a definitive agreement has been reached.
With respect to the U.S. market, the company announced that it has commenced market research for the sales and distribution of the Lipo-laser product line. With a focus on California through its subsidiary, Meridian America Medical Inc., the company is seeking FDA approval after which it will enter the market through a comprehensive sales and marketing program.
About Meridian
Meridian is an established leader in the research/development, manufacturing and sales of integrative medical diagnostic equipment. The company sells its products and equipment to a wide array of customers in the global health care industry. The company presently holds a total of 18 worldwide patents on its technology, and has received FDA, as well as other international regulatory approvals for many of its products.
Meridian is committed to the ongoing global research and advancement of integrative medical products that contribute to the better health of humanity.
On Behalf of the Board of Directors, Hyeon Seong Myeong 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.
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