Imaging Dynamics Company Ltd. ("IDC") (TSX: IDL), a global supplier in the high growth digital radiography (DR) equipment market, today announced the Asian market launch of its Xaminer(TM) product series of CCD Digital X-Ray Detectors aimed at the cost sensitive market segments. The announcement was made from the China International Medical Equipment (CMEF) Conference in Shenzhen, South China, where IDC has been demonstrating the Xaminer technology this week. The Asian launch of the Xaminer follows a North American launch in 2005.
"The Asian launch of the Xaminer has been eagerly awaited by the market, particularly in China," stated IDC's President and CEO, Darryl Stein. "Market interest has been significant and we have already received a backlog of orders that continues to build."
The new Xaminer series was adapted from imaging technology introduced in IDC's highly successful Xplorer(TM) series. The Xaminer provides the lowest priced high-quality systems and detectors on the market, with a range of specifications and prices. Xaminer allows practitioners to replace their film based x-ray imaging without a large capital investment, and then reap the cost and throughput benefits of digital throughput.
The Xaminer product series is designed specifically for large, price sensitive markets such as China, India, Brazil and other countries that require the high patient throughput of DR (digital radiography), with competitive levels of image quality and dose efficiency, at a very low price point. The Xaminer is the world's first commercially available digital radiography product that challenges film based imaging.
The Chinese market for medical equipment and supplies was estimated at US$2.6 billion in 2005. This market continues to boom, with continued investment from overseas along with substantial domestic production. Imports have grown rapidly in recent years, breaching the US$2 billion in 2003, dominated by expensive high-end products, over half the import total comprising X-ray apparatus and electro medical equipment. Imports account for 85%-90% of the market.
A large and aging population, rising living standards and expectations of healthcare provision together with the current low penetration of medical devices, combine to make China a huge and attractive import market. Chinese Government initiatives aimed at creating a better operating environment are making China more conducive to overseas suppliers.
"Launching the Xaminer in China is very fitting as we view it as a very important market for IDC," added Mr. Stein. "We are currently working on inking valuable OEM partnerships here in China. These are particularly important when we enter countries where volume, timing and scalability are key factors."
Held in China, CMEF is the largest medical device show in all of Asia. CMEF is a biannual event that showcases the widest collection of international and local manufacturers of medical devices for hospitals. It is the only event that is fully representative of the China medical devices manufacturing market with 1,770 exhibitors and 47,000 professional visitors from 63 countries and over 40 provincial groups in China taking part from all parts of China.
About IDC:
IDC is an emerging world leader in providing affordable Digital Radiography (DR) systems. IDC Xplorer and Xaminer Direct Capture technologies replace conventional film based X-ray and provides a cost effective alternative to inefficient cassette based Computed Radiography (CR) systems. The IDC Xplorer provides the industry's highest resolution radiographic images in the digital format needed for modern Electronic Medical Records networks, without the use of film, chemistry, cassettes or expensive imaging plates. IDC is based in Calgary, Alberta, Canada. IDC trades on the TSX under the symbol "IDL" and has approximately 53.7 million shares outstanding. For more information, visit www.imagingdynamics.com.
Statements in this release which describe IDC's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of IDC to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. IDC may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions. Known and unknown risks and uncertainties include: the early stage of commercialization of IDC's products; the infancy of the digital radiography industry in general; IDC's ability to manufacture its products with a sufficient level of quality and in volumes which satisfy market demand; the ability of IDC to establish direct and indirect sales channels; the ability of IDC to establish industry partnerships; IDC's ability to attract and retain key personnel; the strength and breadth of IDC's patents; and other factors relating to general economic conditions, specific industry conditions and IDC's particular situation.
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For further information: please contact: Christy Hall, Director of Marketing, 1-866-975-6737, info@imagingdynamics.com, www.imagingdynamics.com; Cory Pala, Investor Relations, E-vestor Communications Inc., (416) 657-2400, cpala@evestor.com
