Company begins on schedule delivery of third generation product to hospitals and physicians worldwide following successful second quarter launch
BOTHELL, WA - June 17, 2005 - Sonosite, Inc. (Nasdaq: SONO), the world leader in hand-carried ultrasound, today announced it has begun worldwide shipments of its MicroMaxx 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„¢ 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.
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 seven 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.