Digital Power Corporation Signs $1.2M Supply Agreement With Medical OEM to Supply Medical Power Switcher | Reuters
FREMONT, Calif., June 22, 2015 (GLOBE NEWSWIRE) -- Digital Power Corporation (NYSE MKT:DPW) announced that it has signed a 12-month, $1.2 million agreement to supply an industry-leading medical OEM with a universal power source solution for use in its portable oxygen concentrators.
The portable oxygen concentrators are small, lightweight, quiet, energy-efficient, and easy to use at home or when traveling. These next-generation products offer an all-in-one solution that has helped countless oxygen therapy patients reclaim their independence, freedom, and quality of life. Digital Power provides advanced, powerful, and flexible power sources that allow an oxygen concentrator to operate from an AC source while at home or from a DC source while in a car. The power sources also charge oxygen concentrator batteries for portable use.
Digital Power was chosen as the supplier due to its proven record of providing high quality, reliable power solutions to the medical industry and to this OEM. In addition, Digital Power met this customer's price and delivery requirements in a challenging market.
Commented Amos Kohn, President and CEO of Digital Power: "This OEM awarded us with the annual supply agreement for power solutions for its medical devices because of the superb quality of our products and the quality of the service we provide. Our customer understands our capabilities and our commitment to meeting their needs for technologically advanced power solutions. In addition, we are leveraging our expertise with our medical customers to further strengthen our position in the medical OEM marketplace."
About Digital Power Corporation
Headquartered in Fremont, California, Digital Power Corporation designs, manufactures and sells high-grade customized and off-the-shelf power system solutions. Its products are used in the most demanding telecom, industrial, medical and military applications where customers require high density, high efficiency and ruggedized power solutions. Its wholly owned subsidiary Digital Power Limited, is located in the UK.
Forward Looking Statements
The foregoing release contains "forward looking statements" regarding future events or results within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning the Company's current expectations regarding revenues from contracts. The Company cautions readers that such "forward looking statements" are, in fact, predictions that are subject to risks and uncertainties and that actual events or results may differ materially from those anticipated events or results expressed or implied by such forward-looking statements. As previously noted, the current customers associated with the aforementioned contracts may modify their purchase forecasts for these products which would increase or decrease the Company's actual revenue versus current revenue forecast for these customers. The Company disclaims any current intention to update its "forward looking statements," and the estimates and assumptions within them, at any time or for any reason. More information about potential risk factors that could affect the Company's business and financial results are included in the Company's most recent filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's Forms 10-K, 10-Q and 8-K. All filings are available on the Company's website at www.digipwr.com.
CONTACT: Digital Power Corporation, 48430 Lakeview Blvd. Fremont, California 94538 1-866-344-7697 E-mail: [email protected] Website: www.digipwr.com.