ARRO earnings were a disappointment. I'll hold for now. Medical devices still ok to play IMO.
Diagnostic Ultrasound, Maker of BladderScan(R) Bladder Volume Instruments, Acquires GlideScope(R) Manufacturer, Saturn Biomedical Systems
Thursday January 5, 11:00 am ET
BOTHELL, Wash., Jan. 5 /PRNewswire/ -- Diagnostic Ultrasound Corporation ("DU"), a rapidly growing provider of handheld ultrasound instruments, today announced the acquisition of Saturn Biomedical Systems, Inc., the Canada-based manufacturer of the innovative GlideScope® Video Laryngoscope.
Saturn's GlideScope® Video Laryngoscope (GVL(TM)) assists with anesthesia intubations in surgery and in the ER. Designed and developed to make the passage of a breathing tube into the airway during anesthesia safe, reliable and easy, GlideScope® is a significant improvement over the traditional laryngoscope widely used for this purpose. With its integrated camera, patented anti-fogging mechanism, and patented 50 to 60 degree viewing range, GlideScope® enables visual control of the endotracheal tube in its trajectory toward the airway. The GlideScope® micro-video technology provides a clear picture of the larynx and vocal cords on a display monitor, further assisting proper endotracheal tube placement.
"The Saturn acquisition is a great step forward for our team, the Saturn team, and GlideScope® technology," said Gerald McMorrow, CEO, Founder & Chairman of the Board of Diagnostic Ultrasound. "GlideScope® solves an important, life-threatening medical problem. The patented GlideScope® technology improves outcomes for difficult airway patients in surgery and in the ER, and it offers a new standard of care in airway management for Anesthesiologists. We're excited about bringing this improved technology to Acute Care, and we're looking forward to a continued expansion of our product offerings in this rapidly growing market segment."
An estimated 40-50 million anesthesia procedures are administered each year in North America, and in up to fifty percent of cases, it is necessary for anesthesia and emergency specialists to place an endotracheal tube to control respiration. Many of the current laryngoscopes require "line of sight" maneuvers that induce neck flexion, head extension, laryngeal depression and other movements that can cause stress to patients.
"As a Vascular and General Surgeon, I've seen first hand how minimally invasive video technology can revolutionize how surgeons operate," said Dr. John Pacey, co-founder and CEO of Saturn Biomedical Systems. "Observing an extremely difficult intubation by two skilled Anesthesiologists over a period of 25 minutes confirmed the need for an improved viewing range and inspired the use of micro-video technology in the invention of the GlideScope®. The benefits of video laryngoscopy are now recognized by several prominent Anesthesiologists and more are embracing the technology every day. Combining forces with Diagnostic Ultrasound will facilitate an even faster deployment of GlideScope® technology into the OR -- a "win" for both Anesthesiologists and their patients."
Diagnostic Ultrasound specializes in application-specific ultrasound devices for the Urology, Acute Care, Primary Care, and Extended Care markets. The company is best known for its BladderScan® bladder volume instruments, which are clinically proven to help eliminate unnecessary catheterization and reduce rates of urinary tract infection. The noninvasive, easy to use BladderScan® has become the standard of care for many health care providers. The FloPoint(TM) Uroflow System and ScanPoint® Software and Imaging Services round out the company's current product line.
Diagnostic Ultrasound, which is privately held, recently received the first phase of a $34 million infusion of capital from DW Healthcare Partners, L.P. and Rho Private Equity, L.P. to fund both internal and acquisition- focused growth initiatives.
About Diagnostic Ultrasound
Diagnostic Ultrasound fills a unique niche in the medical industry, specializing in the development of handheld, ultrasound devices. The company's mission is to advance patient care by making noninvasive instruments and devices more accessible to healthcare providers. Founded in 1984, Diagnostic Ultrasound has grown from a small start-up venture to a thriving and profitable international corporation. Experiencing double-digit growth in 2005, Diagnostic Ultrasound was recently ranked among the fastest growing technology companies in Washington State in Deloitte's prestigious "Technology Fast 50" program. Diagnostic Ultrasound is headquartered in Bothell, Washington. Following the acquisition of Saturn, the company has approximately 200 employees worldwide. For more information, please visit www.dxu.com.
About Saturn Biomedical Systems
Saturn Biomedical Systems Inc. is a privately held company based in Burnaby, British Columbia, Canada. Founded in January 1999 by Dr. John A. Pacey, MD FRCS© and Mr. Awni Ayoubi, P. Eng, Saturn Biomedical specializes in practical research, development and supply of new and improved medical devices and instruments for use in tandem with surgical procedures. The company's innovative GlideScope® Video Laryngoscope product line has experienced rapid sales growth since its introduction in 2001. Saturn, which is profitable, has further new product introductions planned.
NOTE: BladderScan® and ScanPoint® are registered trademarks and FloPoint(TM) is a trademark of Diagnostic Ultrasound Corporation. GlideScope® is a registered trademark and GVL(TM) is a trademark of Saturn Biomedical Systems. All rights reserved.
Contact: Jessica McMorrow, PR Specialist, Diagnostic Ultrasound Corp., 425-867-1348, Ext. 1417. Alternate Contact: Jane Mueller, VP of Marketing, Diagnostic Ultrasound Corp., 425-867-1348, Ext. 1301.
Source: Diagnostic Ultrasound Corporation
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