Healthcare Industry News: Oridion Systems
News Release - August 26, 2008
Oridion Expands its OEM Partnerships - New Agreement with Spacelabs HealthcareJERUSALEM and NEEDHAM, Massachusetts, August 26 (HSMN NewsFeed) -- Oridion Systems Ltd. (SWX: ORIDN ) today announced an OEM agreement with Spacelabs Healthcare, a leading global medical device and service company. With this agreement, Spacelabs now employs Oridion Microstream® capnography technology in its new, compact and ultra-lightweight patient monitoring system, elance.
Spacelabs Healthcare, recognizing the importance of monitoring CO2, has decided to use the Oridion patented Microstream capnography technology and proprietary EtCO2 sampling technology in its new elance patient monitoring system. Microstream capnography technology and FilterLine® breath sampling products improve patient safety by providing the earliest assessment of a patient's ventilatory status. The Spacelabs new elance monitor with Microstream technology is being launched in the current quarter.
Gerry Feldman, President of Oridion Systems Ltd. said: "We are very proud to have entered into this agreement with Spacelabs Healthcare. It demonstrates our ability to further broaden our already existing, strong portfolio of leading global OEM partners. As our partner, Spacelabs will support the Oridion mission to increase patient safety and improve patient outcomes by employing our world-class Microstream CO2 measurement solutions within their systems."
"Spacelabs is very excited to have the advanced Microstream CO2 measurement technology from Oridion integrated into our new patient monitoring system," said Nicholas Ong, Group President, Emerging Markets Organization at Spacelabs Healthcare, Inc.
Oridion Systems Ltd. (www.oridion.com ) is a global medical device company specializing in patient safety monitoring. The Company operates through wholly owned subsidiaries in the United States, Europe, and Israel.
Oridion develops proprietary medical devices and patient interfaces, based on its patented Microstream® technologies, for the enhancement of patient safety through the monitoring of the carbon dioxide (CO2) in a patient's breath. These products provide effective, proven airway management and are used in various clinical environments, including procedural sedation, pain management, operating rooms, critical care units, post-anesthesia care units, emergency medical services, transport, alternate care and other settings where patients' ventilation may be compromised and at risk.
About Spacelabs Healthcare
Spacelabs Healthcare is a wholly owned subsidiary of OSI Systems, Inc. (Nasdaq: OSIS ). Spacelabs Healthcare, Inc. is an international developer, manufacturer and distributor of medical equipment and services including solutions for patient monitoring and connectivity, anesthesia delivery and ventilation, diagnostic cardiology and supplies and accessories selling to hospitals, clinics and physician offices. Additionally, the company provides centralized cardiac safety and diagnostic services (QT Studies, ECG, Holter, ABP, and Event Monitoring) to biopharmaceutical companies undertaking clinical trials. Spacelabs Healthcare, Inc. employs approx. 1,100 personnel in its offices located in the United States, UK, Canada, France, Germany, Finland, India and Singapore. For more information, visit http://www.spacelabshealthcare.com.
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate" "project" "intend" "expect" "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, our ability to maintain profits, the market demands for our Capnography products, our ability to focus our team on the Capnography business, changes in general economic and business conditions, inability to maintain market acceptance to the Company's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for the Company's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology.
Furthermore, this press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The Company's shares issued have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), or under any of the relevant Securities Laws of any state of the United States. The Company's shares may not be offered, sold or delivered, directly or indirectly, to, or for, the account of any US person (as defined in regulation S under the Securities Act) in or into the United States, or by use of the US mail, or by any means or instrumentality of United States interstate commerce, absent registration, or an exemption from registration under the Securities Act.
Source: Oridion Systems
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