Contact:
John McNeil, Director of Communications & Assistant Company Secretary
jmcneil@optos.com
+44 (0)7870 240 325
Optos Confirms European Expansion
11.10.2007
Marlborough, MA, October 11, 2007 – Optos, a leading medical technology company for the design, development, manufacturing and marketing of retinal imaging devices, today announced plans to expand into four new European markets - France, Spain, Switzerland, Norway - following the completion of market research and trial placements of the Company’s retinal scanning devices.
“Expanding into these markets fits with our strategic plan and provides a very compelling opportunity to augment the growth that is being driven by our more established European operations in Germany and the UK,” said Thomas W. Butts, Chief Executive Officer. “We will continue to market and distribute directly to customers and will install our retinal imaging devices primarily using our pay-per-patient examination model.”
France and Spain
Growth will initially be generated from within the advanced secondary and medical health care market, with an immediate addressable market estimated at 320 retinal specialist locations. This market also provides access to reimbursement. Business development will be led by an EU Medical Business Manager resident in France and field sales staff based in Spain. The Company will progress to an offering within the primary care and wellness market through ophthalmologists operating in private practice once a foothold has been established in the secondary and medical care market segment.
Switzerland
The Company will leverage its existing German infrastructure to access and support business in Switzerland. Switzerland is a pure ophthalmology market where ophthalmologists carry out primary to secondary and medical care. The immediate addressable market is estimated at 250 private medical practices. Swiss-based field staff will lead business development and will report directly into the Company’s German subsidiary.
Norway
The Company will leverage its existing UK infrastructure to access and support business in Norway. Norway represents an opportunity for growth in the primary care market carried out by optometrists. The immediate addressable market is estimated at 200 optometric practices. Norwegian-based field staff will lead business development and report directly into the Company’s UK business unit.
“We are very excited about expanding into these new country markets,” said Mr. Butts. “The ultra wide-field view of the retina that our devices produce will support healthcare practitioners in their clinical mission of delivering the highest standard of care to their patients.”
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. Retinal imaging can also indicate evidence of non-eye or systemic diseases such as diabetes, hypertension and certain cancers. The Company has regulatory clearance (CE and FDA 510(k)) to market a second device - P200MA. 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 is incorporated in Scotland under the Companies Act 1985 with registered number SC139953. The Company maintains its Registered Office at Queensferry House, Carnegie Business Campus, Dunfermline, Scotland KY11 8GR United Kingdom.
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates and projections about its industry, its beliefs and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the Company's control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.