Hologic, Inc. (NASDAQ: HOLX), a leading provider of specialized medical imaging equipment for women's health and digital radiographic purposes, today announced its Direct Radiography division achieved a new milestone by securing record bookings for its DirectRay filmless general radiography systems during the fourth quarter of fiscal 2001. New orders for the Company's EPEX™, RADEX™ and Digital Chest imaging systems increased for the third consecutive quarter, leading to a record backlog of 26 systems, or greater than $8 million, at the close of the fourth quarter ended September 29, 2001. These orders were placed by some of the most prestigious medical institutions in the United States and abroad.
John MacLennan, Vice-President and General Manager of Hologic's Systems Division commented, "We believe the increase in the orders for Hologic's direct capture digital radiography systems is a reflection of the growing acceptance of this technology as a means to improve image quality, improve patient throughput, decrease the costs of medical record keeping, and enable hospitals to utilize the very latest available information technology."
Hologic's DirectRay filmless technology enables hospitals to eliminate the costs of x-ray film, film processing and film storage. DirectRay is unique in that it is the only technology commercially available that is able to convert x-ray energy directly into electrical signals, thereby producing high quality digital radiographic images in seconds that can be electronically displayed, transferred and stored. A study undertaken by Mt. Auburn Hospital, a Harvard Medical School Affiliate (Cambridge, MA) confirmed that DirectRay technology enables hospitals to perform standard 2-view chest x-rays at least four times faster than film or using non-direct computed radiography systems that require intermediate steps to process the images.
Recent market studies indicate that digital x-ray systems represent one of the fastest growing segments in the medical imaging market. At the recent American Hospital Radiology Administrators annual conference, Hologic commissioned a study to probe the future buying plans of hospital administrators and radiologists. The study found that approximately 53% of hospital, imaging center and private radiology practice administrators anticipate acquisition of film-less digital imaging x-ray equipment over the next 12 -18 months. An article published in the July 2001 issue of Medical Imaging identified the top 10 reasons why digital radiography is gaining market acceptance. The article cited improvement of workflow, expedited image distribution, improved patient satisfaction with reduced waiting time, reduced image retakes, and reduced supplies and/or labor costs as some of the benefits that are realized with conversion from conventional x-ray to digital radiography.
"The direct radiography market is still in its infancy," said MacLennan. "Our unique amorphous selenium DirectRay technology coupled with our extensive distribution network makes Hologic well positioned to be a marketshare leader in this developing market."
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 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 Hologic Osteoporosis Assessment division; 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.
For more information on Hologic, please visit the Company's website at http://www.hologic.com/.
This News Release contains forward-looking information that involves risks and uncertainties, including statements about the Company's plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding the Company's ability to increase orders for its digital general radiography systems in subsequent quarters, the anticipated growth in the market for these products, the Company's ability achieve marketshare leadership in this field, and the ability of the Company's products to perform as anticipated. 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 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; the need to comply with especially high standards in the manufacture of digital X-ray 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: John MacLennan, Vice President & General Manager of Hologic Systems Division, +1-978-952-8929, or Marianne Ritchie, Manager, Investor Relations of Hologic, Inc., +1-781-999-7300
Web site: http://www.hologic.com/