CORALVILLE, Iowa, May 20, 2010 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCBB:VIVK) announced today that the Company has engaged IME Capital to structure joint venture relationships for its VIVASLICES MRI technology. Vivakor Inc. has also engaged its board member John Gryga, former GE Healthcare Executive, to act as lead on all transactions for VIVASLICES. VIVASLICES is a software technology aimed at increasing image resolution of previous generations of MRI units, thereby saving hospitals and clinics with older equipment millions of dollars in costs related to purchasing new MRI units with enhanced image resolution capacity.
Vivakor's Chief Executive Officer and Chief Scientific Officer, Dr. Tannin Fuja, stated, "At this juncture we are pleased to seek joint venture relationships for VIVASLICES as the demand for cost effective healthcare solutions are necessary in the current economy. VIVASLICES' application for MRIs and CAT scans creates over $300 million annual market potential for the Company."
About Vivakor, Inc.
Vivakor™ is a biomedical/biotechnology company with transdisciplinary research that develops and acquires products in the fields of molecular medicine, electro-optics, biological handling and natural and formulary compounds that extend or improve life. More information can be found about Vivakor at www.vivakor.com.
About VIVASLICES
The VIVASLICES software runs on commercial off-the-shelf (COTS) hardware. This proprietary software provides advanced processing, rendering and display of medical images from Magnetic Resonance Imagers used in Diagnostic Radiology. VIVASLICES improves the operations of MRI scanners by creating better images from the MR's data, shortens scan times up to 50% for patient comfort and improved throughput. Additionally, VIVASLICES reduces operating cost by reducing film consumption from 30% to 80%.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's products and their related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.