BOSTON, Dec. 29, 2011 /PRNewswire/ -- Solos Endoscopy, Inc. (OTCPK: SNDY) is pleased to announce that the Company looks towards continued growth in 2012 through the development and sales of its high quality instruments for the screening, diagnosis, treatment and management of medical conditions. In 2011, Solos Endoscopy consummated agreements, which resulted in the forgiveness of approximately $300,000 in debt for the Company. The signed settlement agreement and new consulting agreement resulted in a reduction of ongoing expenses by approximately $40,000 per quarter that will carry over into 2012.
Throughout the year, Solos has focused its R & D efforts into the design and development of new modifications to its endoscopic instrument lines to accommodate the continual advances in Laparoscopic surgical procedures. The significant advances over the past several years have led to a number of advantages to the patient with laparoscopic surgery versus an open procedure (laparotomy). These advantages include reduced pain due to smaller incisions and hemorrhaging, and shorter recovery time.
With a focus on relentless improvement, the Company announced the launch of its Veterinary Product Line of endoscopic equipment, scopes and instruments in June of 2011.The Solos Veterinary Product Line consists of more than 48 SKUs with prices ranging from $75 to $3900. According to the American Pet Product Association, in 2009, Consumers spent more than $45 Billion on their pets, with more than $12 Billion spent on Vet Care.
In conjunction with the introduction of the Veterinary Product Line, Solos launched its newly designed and interactive website, www.solosendoscopy.com on July 1, 2011. The updated look showcases streamlined navigation to allow for easy-to-use functionality, allowing users to quickly reference desired information making it easier for Hospitals, Clinics, Healthcare Centers, Medical Centers