Medipattern Announces US$400,000 of Pre-purchased Breast Ultrasound CAD B-CAD'TM' Software Licenses.TORONTO -- The Medipattern Corporation ("Medipattern") a leading developer of Computer Aided Detection (CAD) Software for the medical imaging market, today announced that it has received US$400,000 from its distribution partner, Cedara Software ("Cedara") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CDSW/TSX:CDE (1) (Computer Desktop Encyclopedia) What you are reading at this very moment. See About this product. (2) (Common Desktop Environment) A user interface for desktop computing from The Open Group. ), for pre-purchased licenses of its Breast Ultrasound CAD software, B-CAD. Medipattern is using Cedara's extensive reach into the medical imaging market to maximize the opportunity for B-CAD, and has previously entered into a long-term agreement with Cedara to be its exclusive global sales channel for B-CAD. Cedara launched B-CAD during the Radiological Society of North America The Radiological Society of North America (RSNA), founded in 1915, has the purpose to "promote and develop the highest standards of radiology and related sciences through education and research". 90th Scientific Assembly and Annual Meeting (RSNA RSNA Radiological Society of North America, Inc. RSNA Robust Security Network Association ). "We received a great response" stated Chris Barlow, Cedara's Director of Business Development, "and we are now working hard to follow-up leads and market B-CAD through our various channels in Europe, North America, and with our Japanese distributor, Toyo Corporation." "In pre-purchasing licenses Cedara has shown its commitment and confidence in Medipattern and B-CAD. I am pleased with the growing B-CAD marketing momentum - especially the focus given to Japan - a key market for B-CAD," stated Mr. Jeff Collins, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Medipattern, "we look forward to working with Cedara and Toyo in this important market." "The response B-CAD received at RSNA was tremendous and we are looking forward to working with our distributors and channels to make B-CAD a great success," said Abe Schwartz, Cedara's President and CEO. About Medipattern Corporation: The Medipattern Corporation, a private company located in Toronto, develops Computer Aided Detection (CAD) software applications for medical imaging. Medipattern's core technology is a software platform designed to analyze and automate the processing of digital images. The company's initial clinical application is CAD for breast ultrasound (B-CAD(TM)). B-CAD(TM) uses pattern recognition technology to assist radiologists in their efforts to classify and characterize lesions in ultrasound images of the breast. Medipattern recently announced the completion of the first phase of a financing plan that includes a convertible debenture, which closed December 22, 2004, and a planned amalgamation with Skoobins Resources Inc. (TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. : -SKB.P "Skoobins") as part of a Qualifying Transaction under the CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. Program. About Cedara Software: Cedara Software Corp. is a leading independent provider of medical technologies for many of the world's leading medical device and healthcare information technology companies. Cedara software is deployed in hospitals and clinics worldwide - approximately 20,000 medical imaging systems and 4,600 Picture Archiving and Communications System (PACS (Picture ArChiving System) A storage and management system for high-resolution images. Typically pertaining to the medical field, images such as X-rays, MRIs and CAT scans require a greater amount of storage than other industries. ) workstations have been licensed to date. Cedara is enabling the future of the healthcare industry with new innovative approaches to workflow, data and image management, integration, the web, software components and professional services. The Company's medical imaging solutions are used in all aspects of clinical workflow including the capture of patient digital images; the sharing and archiving of images; sophisticated tools to analyze and manipulate images; and even the use of imaging in surgery. Cedara is unique in that it has expertise and technologies that span all the major digital imaging modalities including angiography, computed tomography (CT), echo-cardiology, digital X-ray, fluoroscopy fluoroscopy /flu·o·ros·co·py/ (fldbobr-ros´kah-pe) examination by means of the fluoroscope. fluo·ros·co·py n. Examination by means of a fluoroscope. Also called radioscopy. , mammography, magnetic resonance imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ), nuclear medicine, positron emission tomography positron emission tomography: see PET scan. positron emission tomography (PET) Imaging technique used in diagnosis and biomedical research. (PET) and ultrasound. About Toyo Corporation: Toyo Corporation, established in 1953, is Japan's pre-eminent supplier of foreign made electronic test and measurement equipment and enterprise software products. The company's comprehensive marketing capabilities and superior engineering and technical services enable the localization Customizing software and documentation for a particular country. It includes the translation of menus and messages into the native spoken language as well as changes in the user interface to accommodate different alphabets and culture. See internationalization and l10n. and customization of foreign technology for the Japanese market. For many years, Toyo has had a relationship with Cedara Software Corporation to distribute medical imaging solutions in Japan. Certain statements contained in this news release are forward-looking and are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. These uncertainties and risks include, but are not limited to: the management of the growth of the Company, dependence on key personnel of the Company, competitive pressures (including price competition), changes in market activity, risks associated with international operations, the development of new products and services, the enhancement of existing products and services, the introduction of competing products having technological and/or other advantages, the dependence on key customers, regulatory changes to the health care industry, seasonality, economic and political conditions and adequate protection of the proprietary interests of the Company. Further information about these risks and uncertainties can be found in the continuous disclosure documents filed from time to time by Medipattern with the securities regulatory authorities, which documents are available at http://www.sedar.com/. |
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