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LONDON, UK, 23 September 2010 – Optos plc (LSE: OPTS), a leading medical retinal imaging company, announces that it has entered into an agreement with Accutome, Inc., the US ophthalmic company, to distribute three of its medical devices in North America and targeted European markets with effect from November 2010.
The products are the AccuPen® handheld tonometer and the PachPen® handheld pachymeter, both used in primary eye care in glaucoma management and which will principally be promoted to optometrists. The UltraSound B-Scan will be principally used by ophthalmologists in the management of ocular lesions and tumours.
Screening for early indications of glaucoma is a regular part of a comprehensive eye examination, usually conducted by an optometrist. The measurement of intraocular pressure (IOP) is currently carried out using a device that either measures IOP by making physical contact with the eyeball, or by emitting a puff of air. The AccuPen tonometer provides an accurate, non–puff, easy to capture test for glaucoma screening. The PachPen pachymeter ultrasound device measures the thickness of the cornea – a measurement that is critical for glaucoma management and in refractive surgery screenings. B-Scans are used to measure and assess the size and nature of ocular lesions and tumours, principally by ophthalmologists.
The combined global market for these automated, contact ultrasound devices is estimated to have reached $50m annually with further growth potential. The most significant single market is the handheld tonometry market in the US where it is estimated that some 4,000 units are sold annually.
The Optos salesforce will promote and sell the products to practitioners at prices determined by Optos. Accutome, the manufacturer of the devices, will deliver the products direct to the customers once Optos has secured an order, invoicing Optos at a pre-agreed cost of goods. Accutome will remain responsible for servicing and supporting the products.
Roy Davis, CEO of Optos, said “Our salesforce calls on an extensive range of optometrists and ophthalmologists and is therefore well positioned to drive the sales of these products. We believe the Accutome devices are highly complementary to our retinal imaging devices and whilst revenues from sales of these products are expected to make only a modest improvement to our top line, we believe they are a good first addition to our product offering.”
Brian Chandler, President of Accutome, commented “Accutome currently promotes these devices through our telesales-force and we believe an exciting opportunity exists to increase our product sales through promotion by Optos’ established international sales channel of 67 account managers.”
Roy Davis, CEO
Christine Soden, CFO 07710 484199
|Tel: 01383 843 300|
Ben Atwell / Mo Noonan
| Tel: 020 7831 3113|
Notes to Editors
About Optos Plc
Optos plc is a leading retinal imaging company. Our vision is to be recognised as the leading provider of retinal diagnostics through leveraging our unique wide-field imaging technology. Both eye and non-eye diseases often first exhibit in the periphery of the retina. These are very difficult to detect clinically with conventional examination equipment and techniques. Optos' devices produce ultra wide-field, high resolution images of approximately 82% of the retina, something no other device is capable of doing in any one image. The images provide optometrists and ophthalmologists with enhanced clinical information which facilitates the early detection, management and treatment of disorders and diseases evidenced in the retina such as retinal detachments and tears, glaucoma, diabetic retinopathy and age-related macular degeneration. Retinal imaging can also indicate evidence of non-eye or systemic diseases such as hypertension and certain cancers. Optos has a range of medical devices that support different customer segments and patient levels: the P200 device is concentrated on wellness screening carried out by optometrists and ophthalmologists in primary care; the P200C device is designed to meet the need for more exacting clinical imaging capabilities and standards in secondary care within the ophthalmology market and at optometric practices that are clinically managing a patient base with advanced ocular disease; and the P200MA device supports retinal specialists, working primarily with a diabetic patient base, in the medical care market through an advanced medical angiography procedure. Optos' technology provides an unequalled combination of wide-field retinal imaging, speed and convenience for the practitioner and patient resulting in more targeted treatment regimes and improved patient outcomes. 75% of all blindness can be treated or prevented if diagnosed early enough and our Optos technology supports this objective.
For more information please visit our website www.optos.com
Incorporated in 1982, Accutome is a medical device company focussed on providing full service to the ophthalmic community. Accutome’s first product was a patented ultrasound device, the Pachymeter, the first in Ophthalmology used to measure corneal thickness. Accutome has five divisions; with the principal one being the sales and customer service division with industry-leading i-customer support standards. Trained technical staff members answer the phone and Accutome offers a 24-hour repair service on diamond knives and instruments, same day estimate and status reporting for ultrasound, Phacoemulsification and other equipment repairs.
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.