Optos plc Enters into Agreement with LensCrafters Inc.
28.07.2006
LONDON, 28 July 2006 – Optos plc (LSE: OPTS), a leading medical technology company for the design, development, manufacturing and marketing of retinal imaging devices, today announced it has entered into an agreement with LensCrafters Inc., a leading US-based optical retail chain, where 60 of the optometric practices connected with the 1,200 retail locations owned by LensCrafters and its affiliates have installed Optos’ Panoramic200 Scanning Laser Ophthalmoscope device (“P200”) and are offering the optomap® Retinal Exam to patients.
“Our P200 device has a proven track record of helping eye care practitioners deliver state-of-the-art, efficient and thorough care to their patients,” said Stephane Sallmard, Optos plc Chief Executive Officer. “We are delighted to have entered into this agreement, which reflects our ongoing commitment to deepening our penetration in our existing markets.”
Enquiries
Optos plc
John McNeil, Director of Communications +44 (0)1383 843 337
Citigate Dewe Rogerson
Kevin Smith/ David Dible/ Yvonne Alexander +44 (0)20 7638 9571
Note to Editors
Optos plc is a leading and rapidly growing medical technology company for the design, development, manufacturing and marketing of devices that image the retina, the light-sensitive area at the back of the eye. Optos' platform technology is the Panoramic200 Scanning Laser Ophthalmoscope device - known as the P200. In a quarter of a second the P200 device produces a high resolution image of up to 200 degrees or approximately 82 percent of the retina in a single capture. The image - branded the optomap® Retinal Exam - provides eye care practitioners with clinically useful information that facilitates the early detection of disorders and diseases evidenced in the retina, such as glaucoma, diabetic retinopathy and age-related macular degeneration.
The Company has recently gained regulatory clearance (CE and FDA 510(k)) to market a second device - P200MA. The P200MA is aimed at the specialist ophthalmic and medical as opposed to the primary care market. It is designed to produce an angiographic retinal image called optomap® fa that supports medical procedures by providing enhanced diagnostic, monitoring and treatment capabilities. Retinal imaging can also indicate evidence of non-eye or systemic diseases such as diabetes, hypertension and certain cancers. Optos’ technology provides an unequalled combination of wide-field retinal imaging, speed and convenience for both practitioner and patient and can help save sight and save lives.
Optos estimates that its P200 device is targeting a recurring US$2 billion market opportunity. Approximately 8.0 million optomap® Retinal Exams have been conducted in the Company’s existing markets, currently the US, Canada, UK and Germany, to date. Optos had revenues of US$48.4 million in 2005, its last full financial year and as at 31 March 2006 had approximately 220 employees serving more than 2,250 customers. Optos plc is headquartered in Dunfermline, Scotland and was admitted to the Main Market of the London Stock Exchange on 15 February 2006 trading under the symbol OPTS.