BEDFORD, Mass., Nov. 17, 2005 /PRNewswire-FirstCall/ -- Hologic, Inc. (NASDAQ: HOLX), today announced its first sale of an extremity magnetic resonance imaging (MRI) system to Savannah Rheumatology Associates of Savannah, Georgia. The sale also included the sale of a Hologic osteoporosis assessment system.
In September 2005 Hologic announced they has obtained the exclusive U.S. distribution rights to a line of extremity MRI imaging systems manufactured by Esaote in Geneva, Italy. Esaote pioneered dedicated MRI imaging systems and is the world leader in this product category with over 1,000 systems installed to date. Savannah Rheumatology represents the first practice to obtain an Esaote imaging system from Hologic under the new distribution arrangement.
"We are extremely pleased with the rapid market response to the new partnership with Esaote," commented Brad Herrington, Vice President of Hologic's Skeletal Health Division. "We're proud that after having reviewed all the available options, Savannah Rheumatology selected our turnkey approach to in-office MRI".
"Hologic and an Esaote extremity MRI system were the right fit for our expanding practice," said Dr. John Morley of Savannah Rheumatology. "Hologic's reputation for consistent service and support, along with the excellent image quality of the Esaote system, were key in our decision to partner with Hologic for both MRI and bone densitometry. The system also offered a larger field of view and dramatically lower operating costs versus our other choices in the market."
"We see a growing trend for rheumatologists to provide MRI services in their office," commented Hologic's Herrington. "Our new line of Esaote products and in particular, our C-scan system, give rheumatologists expanded capabilities to encompass all the metacarpophalangeal (MCP) joints in a single view. The C-scan system also permits imaging of large joints such as the knee and opens a whole new range of possibilities for the office-based rheumatologist."
Hologic Inc. is a leading developer, manufacturer and supplier of medical imaging systems dedicated to serving the healthcare needs of women. Hologic's core business units are focused on osteoporosis assessment, mammography and breast biopsy, and extremity MRI and mini C-arm imaging for orthopedic applications. For more information, please visit http://www.hologic.com/
With headquarters in Italy, Esaote is the worldwide leader in dedicated MRI systems. For more information, please visit http://www.esaote.com/
This News Release contains forward-looking information that involves risks and uncertainties, including statements about Hologic's plans, objectives, expectations and intentions concerning the anticipated benefits of its distribution agreement with Esaote 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; risks relating to acquisitions; risks relating to acquisitions; expenses and uncertainties relating to litigation; 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.