Vital Images Signs New Agreement With Existing Partner E-Z-EM for Virtual Colonoscopy Applications
03 Agosto 2004 - 12:16PM
PR Newswire (US)
Vital Images Signs New Agreement With Existing Partner E-Z-EM for
Virtual Colonoscopy Applications Companies Will Continue to
Co-Develop and Market InnerviewGI(TM) for Early Colon Cancer
Detection MINNEAPOLIS, Aug. 3 /PRNewswire-FirstCall/ -- Vital
Images, Inc. (NASDAQ:VTAL), a medical imaging software company, has
signed a new agreement with existing partner E-Z-EM, Inc.
(AMEX:EZM), the leader in conventional colonoscopy contrast agents
and disposables. Since 2001, E-Z-EM has distributed Vital Images'
virtual colonoscopy software visualization product for the early
detection of colon cancer under the name InnerviewGI(TM), and Vital
Images has sold the same product as an option on its Vitrea(R) 2
software. Under the new alliance, E-Z-EM will continue to market
the InnerviewGI brand to its core customer base and to host
educational seminars training physicians for virtual colonoscopies
using InnerviewGI, but will not sell the product. Instead, E-Z-EM
will refer all sales leads to Vital Images, which will rebrand its
CT colon option as InnerviewGI. In addition, E-Z-EM will receive a
royalty from future sales of InnerviewGI and will continue to share
development costs for the product. "We are pleased and excited
about our revised agreement with E-Z-EM and anticipate increasing
market share in the fast-growing colon screening market," said Jay
Miller, Vital Images president and chief executive officer. "This
relationship is beneficial for both companies and builds on our
respective strengths. We are able to work with a premier company in
the colonoscopy market to better understand and develop tools for
use in virtual colonoscopy applications." Anthony A. Lombardo,
E-Z-EM's president and chief executive officer, said, "Vital Images
has been an excellent partner, and we are looking forward to
continued collaboration. Virtual colonoscopy is becoming an
increasingly important tool in the fight against colon cancer by
encouraging more people to be screened for pre-cancerous polyps at
an earlier, more treatable stage." Virtual colonoscopy, or CT
colonography, is a far more patient-friendly procedure than
traditional optical colonoscopy. Recent studies indicate that with
proper training, virtual colonoscopies are just as effective at
discovering pre-cancerous polyps as traditional colonoscopies, but
with much less patient discomfort and potentially at a lower cost.
Clinical outcomes will continue to improve as new CT technology
replaces old technology, software continues to evolve, virtual
colonoscopy bowel prep improves and physicians gain more training
and experience. About E-Z-EM, Inc. E-Z-EM is a leading manufacturer
of contrast agents for gastrointestinal radiology. The company has
developed the only CT injector on the market that can help detect
contrast extravasation, the EmpowerCT(R) with patented EDA(TM)
technology; it also offers a complete product set for the virtual
colonoscopy practitioner. This product line consists of virtual
colonoscopy hardware, software, nutritional prep kits and bowel
cleaners, tagging agents and a carbon dioxide colon insufflation
system. About Vital Images, Inc. Vital Images is a leading provider
of 3D imaging software for use in disease screening applications,
clinical diagnosis and therapy planning. The company's technology
utilizes high-speed volume visualization and analysis, as well as
network communications based on DICOM and Internet protocols. Vital
Images cost effectively brings 3D visualization and analysis into
the day-to- day practice of medicine. Press releases, examples of
3D medical imaging and other corporate information are available on
Vital Images' Web site at http://www.vitalimages.com/ . Except for
the historical information contained herein, the matters discussed
in this news release are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainties which could cause results to
differ materially from those projected, including dependence on
market growth, the timely availability and acceptance of new
products, the impact of competitive products and pricing,
dependence on major customers, fluctuations in quarterly results,
third-party reimbursement, the availability of capital and other
risks detailed from time to time in Vital Images' SEC reports,
including its most recent report on Form 10-K for the year ended
December 31, 2003, and its Form 10-Q for the quarter ended March
31, 2004. Vitrea(R) is a registered trademark of Vital Images, Inc.
InnerviewGI(TM) is a registered trademark of E-Z-EM, Inc. Vital
Images disclaims any proprietary interest in the marks and names of
others. Website: http://www.vitalimages.com DATASOURCE: Vital
Images, Inc. CONTACT: Gregory S. Furness, Chief Financial Officer
of Vital Images, Inc., +1-763-852-4100; or Nancy A. Johnson,
+1-612-455-1745, , or Marian Briggs, +1-612-455-1742, , both of
Padilla Speer Beardsley
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