Medipattern Receives Increased Revenue Commitment from Orison for Whole-Breast Imaging Project.TORONTO -- Attention: Business/Financial Editors: The Medipattern Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:MKI MKI Mark 1 MKI Medical Knowledge Institute MKI Missing Kids International MKI Mabuchi-Kohno-Imai (multiuser detection scheme) ), an award-winning developer of software applications for medical imaging, today announced an increased commitment from Orison or·i·son n. A prayer. [Middle English orisoun, from Old French orison, from Late Latin Corporation of Johnson City, Tennessee Johnson City is a city in Washington County, Tennessee; however a small part of the city is located within Sullivan County, Tennessee, to the northeast and Carter County, Tennessee, to the southeast. As of the 2000 census, the city had a total population of 55,469. , for Medipattern's work on Orison's new ultrasound-based 3D breast tomography platform. This new contract, for project-based services, is in addition to the B-CAD(TM) agreement with Orison announced in December of 2005. The new contract is related to modification of B-CAD for the Orison scanner, modeling ultrasound system components, and optimizing performance. Orison has now committed to a 50% increase from the original US$300,000 of fees anticipated for these services from Medipattern. HIGHLIGHTS OF THE RELEASE - Under the additional contract, Medipattern increases its project-based revenue by 50 percent; - A customized version of B-CAD for Orison's whole-breast imaging is now underway; - The new commitment underlines the strength of Medipattern's contribution to the Orison scanner. Initially, the Orison contract related to customization of B-CAD(TM) for Orison's new scanner. Now the Company has received firm purchase orders for an expanded bill of work to include modeling services for scanner and probe design. The project-based services anticipated in this phase will likely be delivered throughout 2006. "Since the signing of the original contract in December 2005, the Medipattern team has consistently exceeded our expectations on all deliverables outlined in our contract. As such, we felt very comfortable increasing our commitment to Medipattern under this new contract," stated Mark Stribling, 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 Orison Corporation. "B-CAD was originally developed as part of a whole-breast imaging system that Medipattern created and tested clinically," said Jeff Collins, CEO of Medipattern. "The concept of a fast, ultrasound-based, 3D whole-breast imaging system with detection and diagnostic capability has several extremely compelling clinical advantages, including very positive user response." Orison's ultrasound-based 3D breast tomography system is designed to capture anatomically correct anatomically correct adj. Representing the body or a body part, especially a sex organ, in a physiologically accurate manner: an anatomically correct drawing. whole-breast patient images without either compression of the breast or radiation. The system will use B-CAD technology from Medipattern to improve the clinical workflow and help assist the medical practitioner in assessing the need to biopsy a selected nodule nodule: see concretion. nodule In geology, a rounded mineral concretion that is distinct from, and may be separated from, the formation in which it occurs. . The Medipattern Corporation develops award-winning software applications for medical imaging. These applications enhance workflow while improving interpretive and diagnostic confidence. The Company's initial clinical application is B-CAD(TM) for breast ultrasound Breast Ultrasound Definition Breast ultrasound (or sonography) is an imaging technique for diagnosing breast disease, such as cancer. It uses harmless, high frequency sound waves to form an image (sonogram). . B-CAD uses pattern recognition technology to assist radiologists in their efforts to classify and characterize lesions in ultrasound images of the breast. For additional information, please visit the Company's website at: www.medipattern.com. B-CAD(TM) and B-CAD MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. (TM) are trademarks of The Medipattern Corporation. Medipattern(R) is a registered mark of The Medipattern Corporation. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This document contains forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Medipattern's financial performance, operations or business environment. Such statements are based on Medipattern's operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. A number of factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in the company's corporate filings, (posted at www.sedar.com). Consequently, readers should not rely on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Although any forward-looking statements are based upon what management believes to be reasonable assumptions, Medipattern cannot be certain that actual results will be consistent with these forward-looking statements, and the company disclaims any intention or obligation to update or revise any forward-looking statements for any reason. The 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. does not accept responsibility for the ad equacy or accuracy of this release and has neither approved nor disapp roved of the contents of this release. The Medipattern Corporation (TSX VENTURE:MKI) |
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