BOTHELL, WA - October 5, 2005 - Sonosite, Inc. (NASDAQ: SONO), the world leader in hand-carried ultrasound, has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth during a five-year span from 2000-2004. \
\"Since its inception in 1998, Sonosite has been the leader in designing, manufacturing and marketing hand-carried ultrasound systems for medical specialists across the clinical spectrum," said Kevin M.Goodwin, Sonosite President and CEO. "Our portfolio of hand-carried ultrasound systems provides medical professionals with the high-quality image they need to deliver rapid and appropriate care wherever the patient may be.
"Our newest product, the MicroMaxx system, represents the crossover point between hand-carried and cart based ultrasound systems. Its unique microchip technology, small footprint, high image quality and ruggedness together represent the spirit of creativity and innovation at Sonosite that I believe has driven our growth and earned the company its place on the Deloitte Fast 50."
"Making Deloitte's Technology Fast 50 list is a testament to a company's vision that has resulted in exceptional growth during a five year span," said Larry Hille, partner with Deloitte. "Sonosite's leadership team has the right stuff for growth, and Deloitte salutes its accomplishments.
" From 2000 to 2004 Sonosite revenues grew more than 260% from $32 million to $116 million, resulting in a ranking of 20 in the Technology Fast 50 for Washington State. The average revenue increase among companies who made the Technology Fast 50 for this region was 70% for the period. To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2000 and $1 million in 2004, be headquartered in Washington, and must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.
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. Since the first customer 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 trauma assessment in emergency situations, procedural assistance in guiding biopsies and nerve blocks, and in cardiology for full diagnostic echocardiography examinations.
Headquartered near Seattle, Washington, Sonosite (www.sonosite.com) is represented by eight subsidiaries and a global distribution network 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.
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