Hologic, Inc. (NASDAQ: HOLX) and Siemens Medical Solutions of Siemens AG (NYSE: SI) today announced that the two companies have entered into a non-exclusive distribution agreement for the sale of X-ray bone densitometers throughout the United States. Hologic's bone densitometers are used by physicians to assist in the diagnosis and monitoring of osteoporosis, a serious health condition affecting 28 million Americans, 80 percent of whom are women.
"We are excited by the opportunity to partner with Siemens, a global leader in medical imaging technologies," said John W. Cumming, Hologic's chief executive officer and president. "This distribution agreement is an important step in expanding the availability of Hologic's series of bone densitometry equipment. We view this partnership as a first step in forging a long-term relationship with Siemens."
"The demand for bone density testing has increased significantly in recent years due to the greater availability of therapies to prevent and treat osteoporosis," explains Eric von Stetten, Ph.D., Hologic's vice president and general manager of Osteoporosis Assessment. "We believe Siemens' sales force will be instrumental in broadening access to top quality osteoporosis testing in the United States by increasing our presence in the hospital market."
Hologic's latest innovation in bone densitometry, the Delphi(tm) system with Instant Vertebral Assessment(tm) (IVA), is being widely embraced as the new standard of care in osteoporosis assessment. The Delphi integrates bone mineral density (BMD) with Instant Vertebral Assessment (IVA), generating a high-resolution image of the entire lateral spine in just 10 seconds. This enables physicians to visually assess vertebral status for a more accurate determination of fracture risk. Each year, osteoporosis contributes to more than 1.5 million new fractures of the hip, spine and forearm.
"The addition of state-of-the-art bone densitometry equipment is an important step in our ongoing efforts to offer the most comprehensive Women's Health solutions available," said Holger Schmidt, president of the Siemens Medical Solutions Special Systems Division. "Hologic's bone densitometry products, which have long been recognized as the 'gold standard' in the osteoporosis assessment field, fit perfectly into the Siemens commitment to provide innovative technology to our healthcare partners and to assist in improving patient care."
Siemens already provides its customers with a wide range of women's health imaging, therapy and information technology solutions, including award-winning products such as the Opdima digital spot mammography system. In addition to mammography and the new bone densitometry products, Siemens offers ultrasound, general X-ray, magnetic resonance, nuclear medicine, radiation therapy and patient monitoring systems. The company also sponsors Imaginis.com, the breast health specialists website that provides patients and healthcare professionals with information about the detection, treatment and management of breast cancer and other women's health issues.
"Women are increasingly taking an active role in the management of their healthcare needs, and Siemens recognizes the importance of helping our healthcare partners meet the demands placed on them by their patients," said Anne Marie Keevins, the United States division manager of the Siemens Medical Solutions Special Systems Division. "Our goal is to provide our customers with a 'one-stop shop' where they can find a total complement of Women's Health solutions."
Hologic, Inc. is dedicated to developing and delivering proprietary X-ray and ultrasound systems that incorporate direct-to-digital radiographic imaging technology for both women's health and general radiographic applications. Hologic's business divisions include: the Hologic Osteoporosis Assessment division; the Hologic Radiographic Systems division encompassing general and digital radiography systems; Direct Radiography Corp., a wholly owned subsidiary and manufacturer of state-of-the-art proprietary flat panel technology called DirectRay; the LORAD division, specializing in state-of-the- art breast imaging and minimally invasive breast biopsy systems; and Fluoroscan Imaging, a wholly owned subsidiary, manufacturing and marketing state-of-the-art, low intensity, real time X-ray imaging devices.
Siemens Medical Solutions
Siemens Medical Solutions, Erlangen, Germany, one of the largest suppliers of medical technologies in the world, offers complete integrated solutions comprising innovative medical devices, advanced information technology, and consulting services that increase efficiency of the healthcare system while improving the quality of care to patients worldwide. The company develops and manufactures a broad range of medical equipment including imaging systems for diagnostics, radiation therapy equipment for treatment, audiological products, life support and patient monitoring systems, anesthesia equipment and information technology solutions. Employing 28,000 worldwide, in fiscal 1999/2000, the Company reported new orders of 5.3 billion Euro and sales of 5.1 billion Euro. For more information visit http://www.siemensmedical.com/.
This News Release contains forward-looking information that involves risks and uncertainties, including statements about Hologic's and Siemens' plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding the anticipated benefits from Hologic's alliance with Siemens. 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 Siemens' limited experience in working together; Hologic's substantial reliance on Siemens' efforts to make this relationship successful; Hologic's continuing losses and ability to fund those losses as well as other working capital requirements; Hologic's ability to predict accurately the demand for its products and to develop strategies to address its markets successfully; uncertainties inherent in the development of new products and the enhancement of existing products, including technical and regulatory risks, cost overruns and delays; the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; the early stage of market development for digital X-ray products; risks relating to the Company's reliance on a single source of supply for some key components of its products; risks related to ongoing litigation; technical innovations that could render products marketed or under development by Hologic obsolete; competition; and reimbursement policies for the use of Hologic's products. 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 the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE: Hologic, Inc.
Contact: Glenn Muir, Executive Vice President & CFO or Marianne Ritchie, Manager, Investor Relations, +1-781-999-7300, both of Hologic
Web site: http://www.hologic.com/