PDMI Paradigm Medical Industries Inc (CE)

Paradigm Medical Industries, Inc. (OTCBB: PDMI.OB) has launched several internal programs aimed at expanding its position in the U.S. and global diagnostic ultrasound and early glaucoma detection markets. The Company�s initial efforts are aimed directly at the $25-million opportunity for its P60 Ultrasound BioMicroscope (UBM) and the growing glaucoma detection markets. �We are redirecting our efforts to reposition our leading products in the ultrasound market, where the Company has been the premier developer of new, high-technology devices,� said Paradigm Medical�s new President, Stephen Davis. �Our short-term goal is focused on new design enhancements for our three proprietary products: the P60 UBM, the Blood Flow Analyzer� (BFA), and the LD400 autoperimeter, and increasing sales of the Glaid-PERG throughout North America.� The Glaid-PERG electrophysiology instrument is used for the early detection of glaucoma. Paradigm Medical has an exclusive agreement with LACE Elettronica srl (Rome, Italy) to distribute the latter�s Glaid-PERG device. �We are also reinforcing other global collaborations in the U.S., Europe and Asia,� Mr. Davis noted. �The U.S. market for ophthalmic diagnostic ultrasound devices is over $250 million and growing at more than 5% per year. The global opportunity is probably double that,� Mr. Davis added. �Paradigm Medical is also readying several new products that could be commercialized by mid-2009. We are known in the industry as �The UBM Company,� based on our innovation and array of ultrasound devices for the ophthalmic and medical industries. And we remain dedicated to not only growing our share of the market but also to expanding the size of the market through new proprietary products and technology.� The Company�s P60 UBM is used for viewing structures in the eye involved with glaucoma pathologies and surgical procedures. The Blood Flow Analyzer� is used for early detection and treatment management of glaucoma and other retina related diseases. The LD400 Autoperimeter is used to measure patient visual fields to determine the severity of glaucoma and to aid in managing the disease. Paradigm Medical Industries, Inc. is a leader in ultrasound devices, and glaucoma detection and management products. This press release contains statements that, if not verifiable historic fact, may be viewed as forward-looking statements that could predict future events and outcomes with respect to Paradigm and its business. The predictions embodied in these statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.