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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.