VYCO Vycor Medical Inc (QB)

Vycor Medical, Inc. ("Vycor") (OTCBB: VYCO) yesterday reported first quarter 2012 revenue of $432,601, a 198% increase on the $145,122 for the first quarter of 2011. The Vycor Medical division generated revenue of $321,781, a 222% increase on 2011, and NovaVision generated revenue of $110,820, a 145% increase, including a maiden contribution from Sight Science.

Gross profit for the first quarter of 2012 was $353,179 compared to $122,749 in 2011. The overall group margin was slightly lower at 82% in 2012 compared to 85% in 2011.

Total Operating Expenses was $1,113,127 for the first quarter of 2012, a slight increase over $1,034,528 for 2011. The Net Loss was $783,430, a reduction over the net loss of $935,700 reported for 2011.

Group Highlights for first quarter 2012

The first quarter of 2012 saw Vycor continue its momentum with a number of new developments:

• Acquisition of Sight Science Limited (closed January 4, 2012), a highly complementary business for NovaVision. The combination of the therapies, technologies and knowhow of NovaVision and Sight Science is a key element for the development and growth of NovaVision in the future.
• Grant of registration for VBAS in Japan, with an initial order being placed in the first quarter of 2012 and the placing of a second order for China.
• Growth in VBAS's US hospital approvals with 12 new hospitals coming on stream in the first quarter of 2012.
• Addition of Prof. Dr. Josef Zihl to the NovaVision Scientific Advisory Board. Prof. Zihl is research group leader and Head of the outpatient clinic for neuropsychology at the Max Planck Institute of Psychiatry in Munich.

Additional Information More detailed information on the Company and its first quarter results can be found in its quarterly report on Form 10-Q for the three months ended March 31, 2012 and its annual report on Form 10-K for the year ended December 31, 2011.

About Vycor Medical, Inc. With corporate headquarters in Boca Raton, FL, Vycor Medical, Inc. (OTCBB: VYCO) is a medical device company committed to making neurological brain, spinal and other surgical procedures safer and more effective. The company's flagship, Patent Pending ViewSite™ Surgical Access Systems represent an exciting new minimally invasive access and retraction system that holds the potential for speedier, safer and more economical brain, spinal and other surgeries and a quicker patient discharge. Vycor's innovative medical instruments are designed to optimize neurosurgical site access, reduce patient risk, accelerate recovery, and add tangible value to the professional medical community. Vycor is ISO 13485:2003 compliant, has FDA 510(K) clearance for brain and spine surgeries, and CE Marking and HPB licensing in Canada.

Vycor Medical's subsidiary, NovaVision, Inc., researches, develops and provides science-driven vision-based neurostimulation therapy and other medical technologies that help to improve sight in patients with neurological vision impairments. The company's proprietary, Visual Restoration Therapy (VRT) platform is clinically supported to improve lost vision resulting from stroke, traumatic brain injury ("TBI"), or other acquired brain injury, and has been 510(K) cleared to be marketed in the US by the FDA. VRT can be prescribed by any ophthalmologist, optometrist, neurologist or physiatrist. NovaVision, through its subsidiary Sight Science, also provides Neuro-Eye Therapy (NeET), aimed at increasing visual sensitivity deep within the field defect. NovaVision also provides a fully portable and ADA-compliant Head Mounted Perimeter (HMP™) which aids in the detection and measurement of visual field deficits

For the latest information on the company, including media and other coverage, and to learn more, please go online at www.vycormedical.com or www.novavision.com.

Safe Harbor Statement

Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "anticipate," "estimate," "project," "intend," "expect," "should," "believe," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Vycor Medical's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Vycor Medical's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Vycor Medical herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Vycor Medical disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.

Lenny Sorin Vycor Medical, Inc. 561-558-2000 Email Contact