Criticare Systems, Inc. Announces Creation of Veterinary Care Division.
MILWAUKEE--(BUSINESS WIRE)--March 1, 2004
CRITICARE SYSTEMS, INC. (AMEX:CMD). Criticare Systems, Inc. (CSI) today announced it has formally entered into the veterinary care market. During the past year the company has developed proprietary sensors, software and a portable wireless technology relevant to the monitoring of certain animal groups. It has also redesigned a number of CSI monitors for dedicated application to this market. A seasoned manager who has spent his entire career in the veterinary field was recruited and brought into the company to direct marketing and sales efforts. Subsequently, the CSI veterinary line of monitors and sensors was introduced at the North American Veterinary Conference held in Orlando, Florida this past January. Sales and shipments began at this time.
According to statistics for the year 2001 contained in the web sight of the American Veterinary Medical Association (AVMA), there are in excess of 21,000 veterinary practices in the United States. The total annual revenue reported in these practices exceeded $14 billion. The visitation frequency, level of care, and medical sophistication of veterinary practices has accelerated dramatically in the past decade. Many procedures now require multi-parameter monitoring, both operative and post-operative. CSI believes it is well positioned with a dedicated veterinary line of proprietary sensors, monitors and a unique wireless system to become a major factor in this market.
CSI (www.csiusa.com) designs, manufactures, and markets cost-effective patient monitoring systems and noninvasive sensors for a wide range of hospitals and alternate health care environments throughout the world.
This press release contains forward-looking statements. Such statements refer to the Company's beliefs and expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described. Such uncertainties include, but are not limited to, the timely completion of new products, regulatory approvals for new products, the risk of new and better technologies, risks relating to international markets, as well as general conditions and competition in the company's markets. Other risks are set forth in CSI's reports and documents filed from time to time with the Securities and Exchange Commission.