SEATTLE - August 11, 2004 - Sonosite, Inc. (Nasdaq: SONO), the worldwide leader in high-performance, hand-carried ultrasound technology, today announced that it has entered into a multi-year agreement with Boston Scientific Corporation (NYSE: BSX) under which Boston Scientific's Oncology Division will serve as the exclusive distributor of Sonosite's iLook ultrasound systems for select U.S. vascular access and interventional markets.
The agreement covers U.S. distribution of Sonosite's iLook 15 and iLook 25 hand-carried ultrasound systems for the guidance of medical procedures such as placement of intravenous catheters, ports and other long-dwelling implants for interventional radiology, nephrology, oncology and general/vascular surgery applications. It is expected that Boston Scientific will begin distribution later in the third quarter upon completion of transfer of sub-distribution rights pursuant to Sonosite's contracts with hospital purchasing organizations. The agreement extends through 2008 with the option for renewal.
Weighing only 3 pounds, the all-digital iLook system is specifically designed to enhance patient safety and reduce the risk of complications by providing high quality, real-time ultrasound imaging to accurately track the needle path into the target vessel during interventional procedures. According to a report prepared for the U.S. Government, it is estimated that insertion of a central venous catheter may require multiple attempts in approximately 35 percent of patients, causing considerable discomfort and anxiety. More importantly, failure of first time insertion attempts can cause delay of infusion of life-saving fluids or medications in an emergency situation. Both the Agency for Healthcare Research and Quality of the U.S. Department of Health and Human Services and the National Institute for Clinical Excellence in the United Kingdom have recommended ultrasound guidance to reduce complications associated with catheter insertion and other vascular access procedures.
"There is strong evidence that ultrasound can play an important role in lowering the complication risk associated with interventional procedures," said Kevin M. Goodwin, Sonosite President and CEO. "By partnering with Boston Scientific, we believe we can accelerate bringing the benefits that ultrasound can provide to the millions of these procedures performed every year.
About Boston Scientific
Boston Scientific Corporation is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
The agreement covers U.S. distribution of Sonosite's iLook 15 and iLook 25 hand-carried ultrasound systems for the guidance of medical procedures such as placement of intravenous catheters, ports and other long-dwelling implants for interventional radiology, nephrology, oncology and general/vascular surgery applications. It is expected that Boston Scientific will begin distribution later in the third quarter upon completion of transfer of sub-distribution rights pursuant to Sonosite's contracts with hospital purchasing organizations. The agreement extends through 2008 with the option for renewal.
Weighing only 3 pounds, the all-digital iLook system is specifically designed to enhance patient safety and reduce the risk of complications by providing high quality, real-time ultrasound imaging to accurately track the needle path into the target vessel during interventional procedures. According to a report prepared for the U.S. Government, it is estimated that insertion of a central venous catheter may require multiple attempts in approximately 35 percent of patients, causing considerable discomfort and anxiety. More importantly, failure of first time insertion attempts can cause delay of infusion of life-saving fluids or medications in an emergency situation. Both the Agency for Healthcare Research and Quality of the U.S. Department of Health and Human Services and the National Institute for Clinical Excellence in the United Kingdom have recommended ultrasound guidance to reduce complications associated with catheter insertion and other vascular access procedures.
"There is strong evidence that ultrasound can play an important role in lowering the complication risk associated with interventional procedures," said Kevin M. Goodwin, Sonosite President and CEO. "By partnering with Boston Scientific, we believe we can accelerate bringing the benefits that ultrasound can provide to the millions of these procedures performed every year.
About Boston Scientific
Boston Scientific Corporation is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
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 eight subsidiaries and a global distribution netwok in over 75 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 approximately 450 people worldwide.