Company Sells 200th System and Continues To Grow at Compounded Annual Rate of 145% Over Past Three Years
Toronto, Ontario. – February 8, 2006 – VisualSonics, the world’s leading developer of high-resolution, ultrasound-based, in vivo micro-imaging systems, today announced record growth and increased global demand for its Vevo™ platform, having recently sold its 200th system. The company reached this milestone in just over three years, validating the significant demand for micro-ultrasound technology among biotechnology, pharmaceutical and medical research organizations. Starting with quarterly revenues of a few hundred thousand dollars in 2003, VisualSonics has experienced a 145% compounded annual growth rate, quickly reaching its current $24 million in annualized sales.
The global market for preclinical ultrasound imaging systems is estimated to be $2.9 billion and micro-ultrasound is the fastest growing preclinical modality in the market. VisualSonics’ growth trajectory will be accelerated by the company’s introduction of molecular imaging capabilities on the Vevo 770 platform. With this expanded functionality, researchers can now study molecular patterns of expression such as those associated with angiogenesis for cancer research and anti-angiogenic therapeutic studies.
In addition to increased sales, VisualSonics is experiencing greater global demand for its micro-ultrasound technology. Responding to this need, VisualSonics expanded its international sales and support efforts, recently opening an office and in vivo demonstration facility in Amsterdam, The Netherlands. The company also signed an agreement with Israeli distributor, Lavi-Industrial and Medical Agencies Ltd to compliment its extensive existing network of seven distributors across Asia and the Pan Pacific. VisualSonics will continue to expand its international distribution system.
“As the only commercialized high-resolution, high-frequency micro-ultrasound technology for use in preclinical research, VisualSonics’ Vevo 770 is serving a global market of academic and industrial researchers who are creating new protocols and making discoveries with our platform,” states Tom Little, President and CEO of VisualSonics. He continues, “With our growing reputation, recognition among customers and enhanced molecular imaging capabilities, VisualSonics is poised for substantial and continued growth, as we become a multi-product company with recurring revenue streams.”
VisualSonics’ news of record growth and increased international demand comes a week after it announced the Vevo’s enhanced functionality with molecular imaging capabilities. In January, VisualSonics also announced its quality management system has been registered as complying with the requirements of ISO 9001:2000.
About VisualSonics
VisualSonics is the world’s leading developer of high-resolution, ultrasound-based, in vivo micro-imaging systems designed specifically for non-invasive small animal research. The company’s enabling micro-ultrasound technology, the Vevo 770, allows researchers at many of the world’s most prestigious pharmaceutical and biotechnology companies, hospitals and research centers to conduct genetic research, phenotypic study and drug development.
Micro-ultrasound is the fastest growing preclinical imaging modality. This enabling technology is facilitating research in cardiac and vascular disease, cancer, stem cell research and developmental biology. When compared to other imaging options, only micro-ultrasound has the combination of high-resolution, real-time imaging, in vivo detection and analysis, reasonable cost, ease of use, portability and no negative biological effects. More information on VisualSonics and micro-ultrasound can be found at www.visualsonics.com.
Contacts:
Jennifer Viera
Schwartz Communications
visualsonics@schwartz-pr.com
781/684-0770