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PLC Provides Update on Financing Efforts and RenalGuard(R) Program
Date:2/4/2010

s U.S. staff by eight, or 33%. This reduction in force includes the RenalGuard manufacturing team. The company believes RenalGuard can now be more effectively and cost-efficiently manufactured through an external contract manufacturer, because the technology platform is stable, the manufacturing processes are compliant and the product design has benefited from hundreds of examples of usage to date. The new contract manufacturer selected to build RenalGuard is ISO 13485:2003-registered and FDA-compliant.  

This step is expected to provide annualized savings of approximately $750,000, starting in the third quarter of this year. It will also entail a special charge of approximately $230,000 reflected in the first quarter of 2010 expenses for severance and termination pay.

New Distributors Signed

PLC has entered into three new exclusive distribution agreements to launch distribution of its RenalGuard System™ in the following countries: Russia, Belgium, the Netherlands and Luxembourg and all of the former Soviet Socialist Republic nations; Portugal; China and Taiwan.  These established distributors of medical technology will join PLC's existing group of distribution partners worldwide who are working to build on the increased interest in using RenalGuard for its unique fluid balancing capabilities in a cath lab setting during cardiovascular imaging procedures for patients at higher risk of Contrast-Induced Nephropathy (CIN).  

The new distributors are: Axle International, (headquartered in London, England) covering Russia, Benelux and
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SOURCE PLC Systems Inc.
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