Vuzix Receives Follow-on Smart Glasses Orders from Pixee Medical to Support European Commercialization of their Augmented Reality Smart Glasses Solution for Orthopedic Surgery
Vuzix Corporation (NASDAQ: VUZI) announced follow-on orders for M400 Smart Glasses from Pixee Medical to enhance the rollout of their augmented reality navigation system in Europe. Since the first AR Knee+ surgery in June 2020, over 40 procedures have been performed using Vuzix technology. Pixee Medical is expanding its distribution network across Europe and plans to enter the U.S. market pending FDA approval. This partnership underscores Vuzix's commitment to supporting innovative AR solutions in the healthcare sector.
- Follow-on orders for M400 Smart Glasses indicate strong demand for AR technology in medical applications.
- Over 40 successful surgeries using Vuzix M400 Smart Glasses highlight the efficacy of the partnership.
- Pixee Medical's expansion plans across Europe signify potential growth in market share.
- Forthcoming FDA 510(k) clearance could open up the U.S. market, increasing revenue prospects.
- None.
ROCHESTER, N.Y., Dec. 2, 2020 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that Pixee Medical, a France-based medical company, has placed follow-on M400 Smart Glasses orders to support the commercialization and rollout of the Pixee Medical augmented reality navigation system across Europe.
The first AR Knee+ total knee replacement surgery guided by their proprietary solution running on Vuzix M400 Smart Glasses was completed in Paris in June 2020 and subsequently over the last 5 months more than 40 surgeries have been completed in different hospitals and clinics across Europe. Pixee Medical also recently signed up several distributors in Europe and is in the process of finalizing and onboarding several new additional distribution partners.
"Pixee Medical is making great commercial progress across Europe, especially in France and Belgium, and will be expanding our presence in the Germany, Netherlands, Switzerland, Italy, Greece, UK and the Australia as well. Our forthcoming FDA 510(k) clearance will also allow Pixee Medical to scale our business quickly into the United States. We're excited to work in partnership with Vuzix to market this solution to the European Union and other CE mark geographies through implant manufacturers and distributors," commented Sébastien Henry, Founding President of Pixee Medical.
"The team at Pixee Medical created an innovative path to bring the Vuzix M400 Smart Glasses into the operating room to perform knee replacement surgeries and continues to make significant progress in the operating theater across Europe. We look forward to supporting the worldwide distribution of their innovative AR solution, particularly in the large U.S. market following FDA approval," said Paul Travers, President and Chief Executive Officer at Vuzix.
About Pixee Medical
The Pixee Medical company was founded in 2017 with the goal of creating high-performance, computer-assisted surgical solutions using proprietary computer vision and artificial intelligence technologies, while remaining affordable in the challenging health system environment. Our team is composed of experts in orthopedic and computer assisted surgery with recent graduates at the forefront of technology. Our vision is to augment surgeon's capabilities by creating new clinical pathways that are both efficient and effective. We are marketing surgical devices in Europe and abroad, in compliance with our ISO 13485 certification, CE marking and to enter soon the US market with a forthcoming FDA 510(k).
For more information visit our linkedin, Website or email us at contact@pixee-medical.com
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 179 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to the Vuzix M400 Smart Glasses, our relationship and future business opportunities with Pixee Medical, their expanding distributor network and plans to obtain FDA approval for US markets, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations, Vuzix Corporation ed_mcgregor@vuzix.com Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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