Great announcement. I doubt China is in any one's model. It certainly isn't in mine.
Thursday August 19, 4:56 pm Eastern Time
Company Press Release
SonoSite, Inc. Announces Direct Operation In China
SonoSite China, Ltd., to Provide Direct Sales, Service and Education Support To Customers in
People's Republic of China
BOTHELL, Wash.--(BUSINESS WIRE)--Aug. 19, 1999--SonoSite, Inc. (Nasdaq:SONO - news) today announced the opening of SonoSite China, Ltd.,
headquartered in Hong Kong, with a branch office in Shanghai, People's Republic of China.
SonoSite China, Ltd., was established to provide a direct channel for the sales and support of SonoSite products, including the revolutionary new SonoSite(TM)
180 hand-carried ultrasound system, to the growing Chinese medical marketplace. The opening of SonoSite China, Ltd., together with distributor agreements
covering 75 geographic regions around the world, has given SonoSite an extensive and strong foundation for the distribution of its products worldwide.
``The need for healthcare in China is growing at a significant rate, driven by the country's large population and ongoing investment in healthcare,' said Douglas W.
Tefft, vice president for global distribution. ``Establishing SonoSite China, Ltd., allows us to take advantage of the large potential that exists in China.'
``The SonoSite 180 system is a perfect match for China,' said Peter Kwan, president of SonoSite China, Ltd. ``The Chinese medical community values high-quality
ultrasound, but in reality purchasers cannot afford the price tag of a premium ultrasound system. With the SonoSite 180 system, Chinese customers can have
all-digital, high performance ultrasound with outstanding image quality at an affordable price. Additionally, the system's versatility and true portability -- 2.4 kg, and
battery or AC power -- will allow physicians to use it in almost any clinical setting.'
``Mr. Kwan has over 20 years of experience managing multinational companies in China,' said Ronnie Ede, SonoSite's managing director for Asia. ``We are
fortunate to have someone with Mr. Kwan's experience overseeing SonoSite China.'
SonoSite introduced the SonoSite 180 system to the Chinese marketplace in May 1999 at the SinoMed meeting held in Beijing. The system also has been shown to
key physicians throughout China during regional evaluation meetings. Initial response from the Chinese medical community has been extremely positive. The SonoSite
180 system is expected to be available in China in the fourth quarter of 1999.
SonoSite, Inc., (www.sonosite.com) headquartered in Bothell, Wash., is developing a new class of hand-carried, all-digital ultrasound systems that are designed to
have the image quality of larger, more expensive systems but will be small enough to be hand-carried from bedside to bedside and room to room in many clinical
settings. SonoSite became an independent public company on April 6, 1998, as a result of a spin-off from ATL Ultrasound.
Forward-looking Information and the Private Litigation Reform Act
of 1995
Certain statements in this press release, including statements concerning market potential, product availability and market acceptance, are ``forward-looking
statements' within the meaning of the Private Litigation Reform Act of 1995. Forward-looking statements are based on the opinions and estimates of management at
the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the
forward-looking statements. The words ``believe,' ``expect,' ``intend,' ``anticipate,' variations of such words, and similar expressions identify forward-looking
statements, but their absence does not mean that the statement is not forward-looking. These statements are not guaranties of future performance and are subject to
certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect SonoSite's actual results include, among others, uncertainties as to
the Company's ability to manage potential problems, delays or unanticipated expenses, including problems, delays or expenses involving manufacturing, or obtaining
government approvals. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as to the date of this release.
Reference is made to SonoSite's latest annual report on Form 10-K/A filed with the Securities and Exchange Commission for a more definitive description of such
factors. SonoSite undertakes no obligation to update publicly 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. |
