IDC EXPANDS PRODUCT PORTFOLIO - INTRODUCES FLAT PANEL TECHNOLOGY
IDC to Meet the Growing Needs of its Global Customer Base with the Addition of Flat Panel Technology.
Calgary, Canada – June 7, 2011 - Imaging Dynamics Company (IDC) (TSX: IDL) is pleased to announce that it has expanded its product portfolio with the addition of flat panel digital radiography (DR) technology to meet the growing needs of its international distribution channels and customers.
The newly branded innovaXion flat panel technology, in both Cesium Iodide (CsI) and Gadolinium Oxysulfide (GdOS), will be offered in addition to IDC’s X-Series CCD-based DR technology platform. These panels will be in 17” x 17” format and a portable CsI (14” x 17”) option will also be available. IDC’s Magellan proprietary image processing software is well recognized by IDC customers globally for its ease-of-use and performance, and will be available with this new technology in IDC’s strong technology portfolio.
While the flat panel technology greatly differs in composition from IDC CCD-based technology, its performance, high image quality and easy retrofit in existing X-ray rooms, make it a beneficial solution for global IDC customers specifically in countries where CCD technology may not be an option.
IDC has received clearance from the Food & Drug Administration (FDA) in the United States and approval for CE Marking in the European Economic Area to market this technology in all countries requiring FDA or CE certification such as North America, Latin America, many South Asia and all European Union & European Free Trade member countries which require these regulatory certifications to be able to sell in those regions.
Swapan Kakumanu, IDC President & CEO commented, “As a very visible competitor in the global DR market, IDC is proud to offer this innovative DR technology to our international customer base. The innovaXion line of flat panel technology will provide the opportunity for IDC to potentially increase our market share and provide our customers with an option - CCD technology or the flat panel technology.” Kakumanu continued, “I believe this puts IDC in a comfortable position to be able to participate in some of the international tenders where flat panel technology is specified. Although no estimates of revenue streams can be forecasted at this time we believe this is a complementary product that fits well with our product portfolio.
“The new innovaXion line makes a strong statement to our distribution channels that IDC is a supporter of DR initiatives focused on the continual improvement of healthcare for people world-wide,” commented Michelle Brown, Director, Global Marketing & Business Development. “We look forward to the additional opportunities the innovaXion flat panel technology will allow IDC to participate in.”
About Imaging Dynamics Company (IDC):
IDC is a medical devices technology company and innovative force in the high growth field of digital radiography (DR) technology.
Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan, Deloitte Technology and PROFIT; for its consistent dedication to innovation, global growth, and customer focused value proposition.
IDC is based in Calgary, Alberta, Canada.
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: 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.