BEDFORD, Mass., Sep. 22, 2005 /PRNewswire-FirstCall/ -- Hologic, Inc. (NASDAQ: HOLX), and Esaote (Genoa, Italy) today announced that they have entered into an exclusive distribution and service agreement in the United States for extremity MRI imaging systems manufactured by Esaote. The agreement is for an initial term of three years, with automatic 1-year renewal options.
Under the terms of the agreement, Hologic will sell and service Esaote's line of extremity MRI systems, optimized for orthopedic and rheumatology imaging. Esaote's systems provide a compact and high quality alternative to full body MRI systems that require substantially higher capital costs and extensive build-outs. Extremity MRI systems also are designed to provide a more comfortable, less imposing patient experience as compared to full body systems.
Esaote pioneered dedicated MRI imaging systems and is the world leader in this product category with over 1,000 installations. Their MRI solutions span multiple applications including ultra-high resolution, small-joint assessment for rheumatology, as well as open MRI for extremity and shoulder imaging in Orthopedics.
Hologic has an extensive sales network in the U.S. calling on the outpatient imaging market, particularly in orthopedics and rheumatology through the sale of their X-ray bone density and Fluoroscan C-arm imaging systems.
"Dedicated MRI is a natural fit for our distribution and service channels, particularly in the in-office imaging segment," commented Rob Cascella, President and COO of Hologic. "Esaote's long history of excellence and innovation in the area of extremity MRI is consistent with our goal of maintaining a leadership position in the segments we serve."
"Hologic's reputation for service and product excellence were key factors in our decision to partner with them for the important U.S. market," said Dr. Luigi Satragno, General Manager of Esaote's MRI division. "Their long-term focus on the field of musculo-skeletal imaging, and their high levels of customer satisfaction were also essential in our decision to partner with Hologic."
Hologic Inc. is a leading developer, manufacturer and supplier of medical imaging systems dedicated to serving the healthcare needs of women, and a leading developer of state-of-the-art digital imaging technology for general radiography and mammography applications. Hologic's core business units are focused on osteoporosis assessment, mammography and breast biopsy, direct-to- digital X-ray for general radiography applications and mini C-arm imaging for orthopedic applications. For more information, please visit http://www.hologic.com/.
Esaote is a leading manufacturer of medical diagnostic equipment, the worldwide leader in dedicated MRI systems with an installed base of over 1,000 systems, and a key provider of ultrasound and information technology. Information about Esaote Group and products is available on the Internet at http://www.esaote.com/
This News Release contains forward-looking information that involves risks and uncertainties, including statements about Hologic's and Esaote's plans, objectives, expectations and intentions concerning their distribution agreement, the anticipated benefits of the agreement, and the performance and efficiencies of the products contemplated by that agreement. These forward- looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that could cause actual results to materially differ include, without limitation; Hologic's and Esaote's limited experience in working together; Hologic's substantial dependence on the efforts of Esaote to make this relationship successful; the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; the ability of Hologic's sales force to successfully service its product offerings; Hologic's ability to successfully manage current or future alliances or joint ventures; uncertainties inherent in the development of new products and the enhancement of existing products, including technical and regulatory risks, such as the ability to obtain FDA approval to market products developed, cost overruns and delays; the early stage of market development for the technologies and products anticipated to be developed and distributed; Hologic's ability to predict accurately the demand for its products and to develop strategies to address its markets successfully; the need to comply with especially high standards in the manufacture of medical products; technical innovations that could render the technology or products under development obsolete; competition; and reimbursement policies for the use of products, if and when developed. Other factors that could adversely affect Hologic's business and prospects are described in Hologic's filings with the Securities and Exchange Commission. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Hologic's expectations or any change in events, conditions or circumstances on which any such statement is based.
Contact: Glenn P. Muir Frances Crecco Executive Vice President, Finance Director, Investor Relations Hologic, Inc. Hologic, Inc. (781) 999-7300 (781) 999-7377
SOURCE: Hologic, Inc.
CONTACT: Glenn P. Muir, Executive Vice President, Finance,
+1-781-999-7300, or Frances Crecco Director, Investor Relations,
+1-781-999-7377 both of Hologic, Inc.