Eye Dynamics Signs Agreement to Provide Private Label Medical Devices to MedTrak Inc.

TORRANCE, Calif.--(BUSINESS WIRE)--2001--Eye Dynamics Inc. (OTCBB: EYDY) today announced that an agreement has been concluded for Eye Dynamics to be the exclusive provider of a version of its ENG medical device to MedTrak Technologies Inc., a medical device marketer based in Scottsdale, Ariz.

Under the agreement, Eye Dynamics will manufacture a private label version of its Infrared/Video ENG System for MedTrak Technologies Inc. Eye Dynamics gained FDA approval to market the device in 1994, and the product has gained significant recognition in the industry over the past several years. Eye Dynamics is heralded as the 'inventor' of infrared video nystagmography.

MedTrak is focused on bringing equipment and services to primary care physicians, HMOs and government-sponsored CORFs (Comprehensive Outpatient Rehabilitation Facilities). Its President, Dr. Mel Shadowens has more than 30 years experience in the industry and medical training related to neurological problems of vertigo, dizziness, balance disorders and audiology.

This exclusive relationship has the upside potential to add 35% to Eye Dynamics medical device revenues. 'We are obviously pleased that MedTrak has chosen Eye Dynamics as a partner in its business,' said Charles Phillips, Eye Dynamics President.

'We believe this relationship represents the type of strategic growth for our medical device sector that will enhance profits and shareholder value,' said Phillips.

MedTrak has committed to a two-year arrangement, with minimum purchase guarantees.

Commenting on the agreement, Dr. Shadowens stated, 'As President/CEO of MedTrak Technologies, we are very excited about the arrangement with Eye Dynamics. They are the inventors of infrared video eye tracking technology and have the only patented system available in the United States.

'MedTrak has recently developed contracts with several prominent medical sales groups to represent our new product to the MD/DC, Physical Therapy, and Audiology/Hearing Instrument Specialist markets. Our sales should increase significantly this year,' Shadowens said.

About Eye Dynamics

Eye Dynamics is in the business of producing and marketing patented proprietary products and other services for the institutional, medical and government markets. The full range of company products and other interesting items can be seen on its Web site at www.eyedynamics.com.