Hologic, Inc. (NASDAQ: HOLX) and Siemens AG (NYSE: SI), today announced that the two companies have executed a Letter-of-Intent to enter into a strategic alliance focused on the development of second-generation digital mammography systems. Through this alliance, these global medical technology leaders are planning to combine Hologic's proprietary amorphous selenium direct-to-digital mammography technology with Siemens' proprietary software for a dedicated physician's workstation. The parties intend to negotiate the details of this alliance over the next several months.
"We are delighted to have the opportunity to partner with Siemens, long recognized as an innovative leader in medical imaging and mammography technology," commented Hologic's President and CEO Jack Cumming. "Moreover, we believe Siemens' interest in Hologic's amorphous selenium direct digital detector is further validation of our significant technical achievements in the development of this technology."
Through the intended alliance, Siemens and Hologic are proposing to combine their proprietary mammography technologies and expertise to bring to market the first true, direct-to-digital mammography systems. Siemens and Hologic are also discussing joint efforts to migrate the current technology to the next generation of mammography systems, with the goal of providing clinicians with the capability of performing highly sophisticated, "breakthrough" imaging procedures of the breast.
In addition, Siemens and Hologic intend to partner on developing an image acquisition console that will offer customers a fully integrated approach to breast cancer detection. Proprietary Siemens software will be used to build a dedicated physician's workstation that will be designed to improve workflow and patient throughput, and also will be prepared to integrate future digital computer-aided detection (CAD) applications.
"Both Hologic and Siemens share a common mission for developing innovative and leading-edge technologies. Our ability to leverage our proprietary technologies and research and development resources should strengthen our product offerings and competitive positions in the emerging digital mammography market," said Cumming. "In understandable, grass-roots terms, it is the sincere hope of both companies, that through our collective efforts, we will soon offer enhanced visualization capabilities for clinicians, thereby assisting in the early detection of breast cancer. That's what this is all about, joining forces with Siemens in the fight against breast cancer."
"We believe this alliance will be very rewarding for both companies and for the advancement of mammography technology," agrees Holger Schmidt, president of Special Systems Division of Siemens Medical Solutions. "This partnership and the resulting products should offer our customers significant improvement in the quality of patient care, increased efficiency and long-term cost-savings. Our decision to combine both companies' vast resources and proprietary technologies should positively impact each of our digital mammography development programs."
At the Annual Meeting of the Radiological Society of North America (RSNA), Siemens and Hologic will mutually display the technologies that are the foundation of this partnership. Siemens, located in booth #6413, will be displaying Hologic's direct-to-digital mammography detector, which is based on the company's proprietary amorphous selenium technology. Hologic, located in booth #4329, will be utilizing Siemens' state-of-the-art software in its digital mammography workstation. RSNA 2001 is being held in Chicago, Illinois from November 25 - November 30, 2001.
About 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/.
Hologic, Inc. is dedicated to developing and delivering leading edge imaging systems for women's health and general radiographic applications. Incorporated in many of these systems are Hologic's patented, direct-to- digital amorphous selenium imaging technology. Hologic's business divisions include: the Hologic Osteoporosis Assessment division; which manufactures the Delphi, the only bone densitometry system that effectively integrates the assessment of the two strongest risk factors for osteoporotic fracture: low bone mineral density and the presence of a vertebral fracture, the LORAD division, specializing in technologically advanced breast imaging and minimally invasive breast biopsy systems; the Hologic DirectRay Systems division encompassing digital radiography systems; Direct Radiography Corp., a wholly owned subsidiary and manufacturer of high-tech proprietary flat panel technology called DirectRay®; 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 Press Release contains forward-looking information, including but not limited to statements involving Hologic's plans, expectations and intentions concerning the formation a strategic alliance with Siemens, and the anticipated development and commercialization activities related to that alliance, including without limitation the performance of products developed through that alliance. Actual results may be materially different than those anticipated in these forward looking statements. Factors which could cause material differences to these forward looking statements include known and unknown risks, including without limitation, those set forth below. The start- up of the strategic alliance is subject to several conditions including the negotiation and execution of definitive agreement. As a result, there can be no assurance that the alliance will be consummated on terms anticipated, if at all. Moreover, strategic alliances involve numerous risks, including difficulties associated with cooperation and conflicts of interest among the partners. In addition, the technologies and planned business of the strategic alliance are subject to the significant risks and uncertainties generally applicable to high technology companies including: the uncertainty of new product development, including the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated, budget overruns, project delays, the early stage of development of the targeted markets, uncertainty of market growth, rapid technological change and intense competition, as well as other risks set forth in Hologic's filings with the Securities and Exchange Commission. Hologic cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made.
MAKE YOUR OPINION COUNT - Click Here
SOURCE: Hologic, Inc.
Contact: Glenn P. Muir Executive Vice President & CFO, or Marianne Ritchie, Manager, Investor Relations, both of Hologic, Inc., +1-781-999-7300
Web site: http://www.hologic.com/