SonoSite Announces Acquisition of Catheter Guidance Technology
31 July 2007 - 6:21AM
Business Wire
SonoSite, Inc. (Nasdaq:SONO), the world leader in hand-carried
ultrasound, announced today it has acquired LumenVu, Inc., a
privately held, development stage company based in Philadelphia.
LumenVu, in conjunction with a leading academic research
institution, has developed a patented technology to improve the
accuracy of catheter placement. The acquisition will strengthen
SonoSite�s position in the vascular access market as well as add a
recurring revenue stream via the disposable catheter guidance
device. SonoSite expects to introduce products based on this
technology in late 2008. Terms of the agreement were not disclosed
and the transaction is not expected to have a material effect on
SonoSite�s 2007 financial results. �The combination of SonoSite�s
hand-carried ultrasound technology with LumenVu�s innovative
catheter tracking technology will offer clinicians a major benefit
in accurately and cost-effectively placing catheters at the
bedside,� said Thomas J. Dugan, Senior Vice President, Global
Marketing and US Sales. �Clinicians have been rapidly adopting
SonoSite�s hand-carried ultrasound systems to increase the accuracy
and speed of catheter insertion. LumenVu�s technology will offer
the perfect complement to ultrasound by providing a way to easily
track the tip of the catheter as it advances through the vessel to
ensure that it is placed in the right location, potentially
eliminating the need to confirm the location with x-ray or
fluoroscopy.� Over 1.5 million peripherally inserted central
catheters (PICC) are placed annually in the US and the market
growth is estimated at approximately 25% per year. Many PICC lines
are placed by clinicians at the patient�s bedside using only
anatomical landmarks, essentially a �blind� technique. A survey of
clinical literature indicates that the average failed placement
rate of bedside PICC insertions is 27%. The high failure rate
necessitates that almost all PICC lines are checked with a flat
plate x-ray after insertion. Incorrectly positioned catheters can
lead to delayed treatment, clinical complications, patient
discomfort, and additional expense. LumenVu�s real-time bedside
visualization system couples near infrared (NIR) light with
standard catheter technology. An optical fiber combined with a
guidewire emits light as it is inserted into the patient. A
specialized camera captures light from the tip of the optical
fiber, which is coupled with a standard catheter, as it is advanced
and positioned in the patient. Images are projected in real-time
onto a monitor placed at the patient�s bedside. Once the catheter
is correctly positioned, the guidewire with the optical fiber is
removed and discarded. SonoSite plans to offer this technology as
part of an integrated solution with its products or as a
stand-alone option to be used with SonoSite�s products. About
SonoSite SonoSite, Inc. (www.sonosite.com) is the innovator and
worldwide leader in hand-carried ultrasound. Headquartered near
Seattle, the company is represented by nine subsidiaries and a
global distribution network in over 90 countries. 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 over
550 people worldwide. Forward-Looking Statement Certain statements
in this press release relating to future product releases
incorporating the LumenVu technology 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 actual results include potential
difficulties in commercializing products incorporating the Lumen Vu
technology, our ability to obtain regulatory clearances for such
products, market acceptance of this new technology and the ability
of our sales force to sell this technology, as well as other
factors contained in the Item 1A. �Risk Factors� section of our
Annual Report on Form 10-K for the year ended December 31, 2006
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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