Vuzix Receives Initial Smart Glasses Deployment Order from Healthcare and Surgical Training Provider

Rhea-AI Summary

On March 25, 2021, Vuzix Corporation (NASDAQ: VUZI) announced an initial deployment order of approximately $250,000 for its M400 Smart Glasses from a healthcare solutions provider. These smart glasses will facilitate real-time communication in operating rooms, supporting surgeons and medical professionals. With a growing adoption of smart glasses in healthcare, Vuzix reports hundreds of surgeries and thousands of remote calls utilizing their technology. The order indicates potential for future deployments, enhancing Vuzix's position in the AR market.

Positive

• Initial deployment order worth approximately $250,000 for M400 Smart Glasses.
• Growing adoption of smart glasses in healthcare for surgical training and patient care.
• Strong market potential as customers transition from proof of concept to full deployments.

Negative

• None.

ROCHESTER, N.Y., March 25, 2021 /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 the Company has received an initial deployment order totaling approximately $250,000 for Vuzix M400 Smart Glasses from a healthcare and surgical training solutions provider. This initial deployment order is for immediate delivery with the potential for subsequent deployment orders in the future as this customer expands its use of Vuzix M400 Smart Glasses, which will be used in operating rooms to enable medtech experts, assisting surgeons, medical students, and other healthcare professionals to see and communicate with surgeons in real-time.

The healthcare industry continues to be an early adopter of smart glasses to deliver a variety of benefits in and outside of the operating room.  Over the last year, hundreds of surgeries were performed using Vuzix Smart Glasses and thousands of remote calls made to provide a virtual presence within hospitals and senior care facilities that were video broadcast securely via Vuzix M400 and M4000 Smart Glasses to provide virtual training, health care for patients in the ICU and the operating room, and to perform virtual patient rounds.

"We continue to see an increasing number of end customers moving from proof of concept to full deployments with Vuzix industry leading M400 Smart Glasses. In this case they are deploying within the healthcare market vertical to support surgical training, patient care, virtual rounds and the likes," said Paul Travers, President and CEO of Vuzix. 

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 184 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 2021 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 Vuzix' existing and potential business growth opportunities with this healthcare solutions provider, ongoing and continued deployments, the ultimate success of the M400 in this sector, 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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SOURCE Vuzix Corporation

FAQ

What is the recent order Vuzix received for its Smart Glasses?

Vuzix received an initial deployment order totaling approximately $250,000 for M400 Smart Glasses from a healthcare solutions provider.

How are Vuzix Smart Glasses being used in healthcare?

Vuzix Smart Glasses are used in operating rooms for real-time communication and visualization, aiding surgeons and medical staff.

What is the significance of Vuzix's recent deployment order?

The order indicates a growing adoption of Vuzix's technology in the healthcare sector, with potential for future orders as the customer's use expands.

When was the deployment order announced?

The deployment order was announced on March 25, 2021.

What stock symbol does Vuzix operate under?

Vuzix operates under the stock symbol VUZI on NASDAQ.