TITAN System in Japan Business Editors SEATTLE--(BUSINESS WIRE)--June 30, 2004 SonoSite, Inc. (Nasdaq:SONO), the worldwide leader in high-performance, hand-carried ultrasound, announced today that it has signed a distribution agreement for Japan with Aloka Co., Ltd., a leading Japanese manufacturer and distributor of ultrasound systems. The agreement names Aloka as SonoSite's exclusive distributor for TITAN(TM), the company's newest generation of high-performance, hand-carried ultrasound systems, for all of Japan's clinical ultrasound markets, including cardiology, abdominal, vascular, Ob/Gyn and emergency medicine. "This agreement brings together two leaders in ultrasound," said Mr. Yoshihiro Yoshikawa, president, Aloka Co. Ltd. "Hand-carried ultrasound is Japan's most rapidly growing ultrasound market. Aloka is fully committed to optimizing this major opportunity through this strategic alliance with SonoSite and to bringing the finest hand-carried ultrasound available to Japan's medical practitioners." "Aloka's history in ultrasound and respected position as a leading technology innovator make this an exciting partnership for SonoSite," said Kevin M. Goodwin, SonoSite president and CEO. "Our agreement with Aloka is a cornerstone of our strategy to serve the Japanese market by establishing multiple distribution channels through which SonoSite's products can be promoted across a broad clinical spectrum. We believe the market for hand-carried ultrasound systems could eventually equal or exceed Japan's current market for cart-based systems. We look forward to working with the Aloka team to further strengthen our position in and expanding this key market." The TITAN system utilizes SonoSite's proprietary ASIC (Application Specific Integrated Circuit) technology to integrate millions of transistors onto one circuit, thereby reducing size while offering excellent image quality and performance in a highly durable design. Weighing only 7.7 pounds (3.5 kg), the TITAN system boots up in 12-seconds, is easy to use and can be hand-carried to wherever it is needed to immediately deliver patient care efficiently and effectively. Japan is the world's second largest ultrasound market, and according to Aloka, accounted for an estimated $400 million in sales in 2003. The agreement with Aloka follows other steps SonoSite has taken in recent months to expand its presence in Japan. In February 2004, the company opened SonoSite Japan KK, a wholly owned subsidiary to provide customer service, quality assurance, sales support and direct sales into certain clinical segments. Earlier this year, SonoSite also signed an agreement with Olympus Corporation targeted at the Japanese endoscopy market. About SonoSite SonoSite, Inc. (www.sonosite.com), headquartered near Seattle, is the innovator and worldwide market leader in high-performance, hand-carried ultrasound technology. By creating modular, compact systems that meet customer needs, SonoSite is removing barriers to the use of ultrasound across medicine and positively impacting the cost-effectiveness and efficiency of ultrasound use. With more than 15,000 units sold worldwide since 1999, SonoSite's products have become known for exceptional durability with a high design value. About Aloka Aloka Co., Ltd. (www.aloka.com), headquartered in Tokyo and a leading manufacturer of medical devices, introduced its first diagnostic ultrasound system in 1960. With more than 50 years in medical diagnostic ultrasound, Aloka is recognized as one of the most experienced and innovative companies in the diagnostic ultrasound market. Aloka introduced color Doppler technology to the ultrasound industry in 1983, which today has become an indispensable diagnostic tool for many ultrasound examinations in a wide range of clinical applications. Forward-looking Information and the Private Litigation Reform Act of 1995 Certain statements in this press release relating to the market acceptance of our products, possible future sales relating to expected orders, and our future financial and operations results are "forward-looking statements" for the purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the opinions and estimates of our management at the time the statements are made and are subject to risks and uncertainties that could cause actual results to differ materially from those expected or implied by the forward-looking statements. These statements are not guaranties of future performance and are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions. Factors that could affect the rate and extent of market acceptance of our products, the receipt of expected orders, and our financial performance include our ability to accurately forecast customer demand for our products, our ability to manufacture and ship our systems in a timely manner to meet customer demand, timely receipts of regulatory approvals to market and sell our products, the willingness of healthcare providers who do not currently use ultrasound to use ultrasound, the extent to which healthcare insurers reimburse providers for ultrasound procedures, regulatory changes in various national health care markets, constraints in government and public health spending, the ability of our distribution partners to market and sell our products, as well as other factors described under the heading, "Important Factors that May Affect Our Business, Our Results of Operating and Our Stock Price," included in our latest periodic report filed with the Securities and Exchange Commission. We caution readers not to place undue reliance upon these forward-looking statements that speak only as to the date of this release. We undertake no obligation to publicly revise any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. CONTACT: SonoSite Mike Schuh, CFO, 425-951-1333 or EVC Group Anne Bugge, 206-926-5220 or SonoSite Japan KK Tomo Hasegawa, 81.3-5304-5337
SonoSite Announces Alliance with Aloka for Distribution of Its
Press spacebar to pause and continue. Press esc to stop.