Palo Alto, Calif. - November 10, 2005 - Palo Alto, Calif. - November 10, 2005 - Frost & Sullivan selected Sonosite, Inc. as the recipient of the 2005 Medical Imaging Fastest Growing Company of the Year Award for its success in the U.S. medical imaging markets in 2004. Sonosite (Nasdaq:SONO) has received this Award for generating the highest percentage revenue growth while operating at a profit in the imaging market with more than 35 competing public companies. Each year Frost & Sullivan presents this Award to a company that has exhibited the highest percentage revenue growth in the market while maintaining profitability.
The Award signifies the company's commitment to developing and marketing technologically advanced products in the market being studied. Additionally, the Award highlights the key attributes of the company that were instrumental to its success. In 2004, Sonosite increased its revenue by 36.6 percent and is recognized in the financial community as one of the fastest growing technology companies in the United States with high sustained revenue growth over the five-year period from 2000 to 2004.
This Award highlights Sonosite's management and its ability to excel in the market by igniting and altering the ultrasound landscape with its ground-breaking technology while concurrently implementing a successful multi-faceted business model and managing its finances. "Since the introduction of its first generation Sonosite 180' and iLook' series of high-performance, hand-carried ultrasound systems, Sonosite has been transforming the way ultrasound is perceived in the medical community," says Frost & Sullivan Industry Analyst Katherine Shariq.
"Light weight, easy-to-use, and highly portable, these ultrasound systems deliver high-performance imaging and are sold for a fraction of the cost of the larger, more complex, cart-based ultrasound systems." The ease of use and portability of these hand-carried systems offer physicians and clinicians a cost-effective, noninvasive way to provide diagnostic assessment and guidance for interventional procedures. Emergency physicians, for example, have appreciated the ability to quickly eliminate or confirm the presence of a life-threatening condition using a portable, point-of-care ultrasound. Sonosite offers the most extensive hand-carried ultrasound product line in the industry. In addition to the 180 and iLook systems, the product line includes the TITAN' system and the recently introduced, third generation product, the MicroMaxx' system. These systems address the traditional diagnostic ultrasound markets such as radiology, cardiology and ob/gyn and are opening new applications of ultrasound imaging in emergency medicine, anesthesiology, surgery and other clinical specialities. "As the global leader in hand-carried ultrasound, Sonosite has been unsurpassed in its ability to expand the existing ultrasound market while trailblazing new diagnostic ultrasound opportunities," notes Shariq.
"Although still a relatively nascent market segment, Sonosite is leading the way in the introduction of ultrasound for rapid assessment applications at the clinical level." Sonosite has an impressive global footprint, with eight subsidiaries and a network of distributors that sell its hand-carried ultrasound systems in over 75 countries.
Employing both direct sales representatives as well as third-party distributors, Sonosite has also successfully broadened its reach through strategic partnerships with well-known companies. In recognition of its outstanding growth in the market and for successfully exceeding the revenue growth of competing public companies in the imaging market, Frost & Sullivan is proud to present Sonosite with its Medical Imaging Fastest Growing Company of the Year Award for 2005. Held in Miami, Frost & Sullivan's Best Practices Awards Banquet honors world-class companies for contributing innovative developments to the pharmaceutical and life sciences industry, as well as companies yielding emerging technologies in a variety of fields. An annual event, the banquet recognizes the quality and merit of distinguished individuals and companies that deliver unparalleled insight on the industry, products and services.
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. Headquartered near Seattle, the company employs 470 people worldwide.
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