SonoSite Begins Customer Shipments of MicroMaxx System
17 June 2005 - 9:00PM
Business Wire
Company begins on schedule delivery of third generation product to
hospitals and physicians worldwide following successful second
quarter launch SonoSite, Inc. (Nasdaq:SONO), the world leader in
hand-carried ultrasound, today announced it has begun worldwide
shipments of its MicroMaxx(TM) ultrasound system, the company's
third generation hand-carried product. The MicroMaxx system, at
less than eight pounds and the size of a laptop computer, delivers
image resolution and performance comparable to costly, conventional
cart-based ultrasound systems weighing over 200 pounds. This
unprecedented power in a hand-carried configuration provides
medical professionals with unmatched flexibility and efficiency in
utilizing ultrasound in both hospital and office-based settings.
"Over the last several weeks we have introduced the MicroMaxx
system to physicians, sonographers and hospital administrators
across the medical spectrum in the US and international markets,"
said Kevin M. Goodwin, SonoSite President and CEO. "Although still
in the early stages, we have been pleased with the high degree of
enthusiasm expressed for the product. Once again the SonoSite team
has executed an on-time launch and on-time delivery of a new
product platform." As the worldwide market leader in hand-carried
ultrasound, SonoSite is advancing the field of ultrasound by
integrating its Chip Fusion(TM) technology into a product with a
user-friendly design that can be battery operated and deployed in
seconds wherever needed. SonoSite's proprietary Chip Fusion
technology integrates digital signal processing and multiple
ultrasound functions into a custom ASIC (Application Specific
Integrated Circuit) microchip, resulting in high performance in a
less costly, powerful hand-carried unit. The MicroMaxx system and
its transducers are designed to withstand the rigors of highly
mobile use, including being dropped onto a hard surface and
continuing to function. SonoSite's proven history of durability and
reliability, and the high level of integration of its third
generation ASICs has resulted in another industry first -- the
MicroMaxx system comes with a standard five-year warranty,
significantly reducing the cost of owning advanced imaging
equipment in any user setting. In addition to traditional market
segments for ultrasound such as radiology, cardiology and vascular
imaging, high performance hand-carried products like MicroMaxx and
SonoSite's earlier generation products are expanding the use of
ultrasound in newer applications, including emergency medicine,
anesthesiology and general and specialized surgery. Leadership in
Hand-Carried Ultrasound SonoSite began as a division of ATL
Ultrasound and was spun off as a public company in 1998 to create
hand-carried ultrasound devices. Today the company is one of the
fastest growing medical technology companies in the United States
with revenues growing 37% in 2004 to approximately $116 million.
SonoSite is the leader in hand-carried ultrasound with an installed
base of more than 20,000 units and a 60% market share worldwide in
the hand-carried ultrasound market. In a recent independently
conducted survey commissioned by SonoSite, customers gave the
company's products an overall satisfaction rating of 97% based on
image quality, ease of use, durability, reliability and ergonomic
transducer design. Since the first product shipment in 1999,
SonoSite ultrasound devices are increasingly being used in and for
procedures where physicians need inexpensive, non-radiating imaging
for diverse applications such as real time assessment in emergency
situations, guiding biopsies and nerve blocks as well as for full
diagnostic examinations. About SonoSite SonoSite, Inc.
(www.sonosite.com) is the innovator and world leader in hand
carried ultrasound, with an installed base of more than 20,000
systems. The Company, headquartered near Seattle, Washington is
represented by subsidiaries and a global distribution network in
over 75 countries. Approximately half of its revenues are generated
from international markets. SonoSite's small, lightweight systems
are expanding the use of ultrasound across the clinical spectrum by
cost-effectively bringing high performance ultrasound to the point
of patient care. The Company employs approximately 450 people
worldwide. Forward-looking Information and the Private Litigation
Reform Act of 1995 Certain statements in this press release
relating to the market acceptance of our products, possible future
sales relating to expected orders, and our future financial
position and operating results are "forward-looking statements" for
the purposes of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on the opinions and estimates of our
management at the time the statements are made and are subject to
risks and uncertainties that could cause actual results to differ
materially from those expected or implied by the forward-looking
statements. These statements are not guaranties of future
performance and are subject to known and unknown risks and
uncertainties and are based on potentially inaccurate assumptions.
Factors that could affect the rate and extent of market acceptance
of our products, the receipt of expected orders, and our financial
performance include our ability to successfully market and sell our
new MicroMaxx systems, our ability to accurately forecast customer
demand for our products, our ability to manufacture and ship our
systems in a timely manner to meet customer demand, timely receipts
of regulatory approvals to market and sell our products, the
outcome of pending litigation and expenses associated with such
litigation, the willingness of healthcare providers who do not
currently use ultrasound to use ultrasound, the extent to which
healthcare insurers reimburse providers for ultrasound procedures,
regulatory changes in various national health care markets,
constraints in government and public health spending, the ability
of our distribution partners to market and sell our products, as
well as other factors described under the heading, "Important
Factors that May Affect Our Business, Our Results of Operations and
Our Stock Price," included in our latest periodic report filed with
the Securities and Exchange Commission. We caution readers not to
place undue reliance upon these forward-looking statements that
speak only as to the date of this release. We undertake no
obligation to publicly revise any forward-looking statements to
reflect new information, events or circumstances after the date of
this release or to reflect the occurrence of unanticipated events.
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