Optos Plc Strengthens Position in Core North American Market
3/17/2006
LONDON, 17 March 2006 – Optos plc (LSE: OPTS), a leading medical technology company for the design, development, manufacturing and marketing of retinal imaging devices today announced that OptiCare Eye Health & Vision Centers Inc., a wholly-owned subsidiary of Refac Optical Group (AMEX:REF), has installed Optos’ Panoramic200 Scanning Laser Ophthalmoscope (P200) in each of its 18 eye-care practices throughout the state of Connecticut, USA.
“Deepening our penetration in our existing markets is critical to our overall growth strategy – partnering with OptiCare strengthens our market position in our core North American market and supports our broader strategy,” said Stephane Sallmard, Chief Executive Officer, Optos plc. “We are executing on our plan and focused on delivering sustainable value for our shareholders.”
Under the terms of the initial minimum three-year, pay-per-patient agreements Optos’ P200 device is installed in each OptiCare practice enabling practitioners to offer the optomap® retinal examination to patients. Optos receives revenue from the sale of each optomap® retinal examination that is performed, subject to a minimum monthly payment over the life of the agreement. Optos provides OptiCare with ongoing clinical, educational and marketing resources as well as technical assistance and support to integrate the optomap® retinal examination into each practice.
“We have traditionally provided our patients with the latest technology available to ensure the highest quality of care,” said David Gaio, President of OptiCare Eye Health & Vision Centers. “The optomap® retinal examination aligns directly with our commitment to state-of-the-art, efficient and thorough patient care.”
Notes to Editors
About Optos plc
Optos is incorporated in Scotland under the Companies Act 1985 with registered number SC139953 and with its subsidiaries collectively is known as Optos plc. Founded in 1992 Optos plc is a leading medical technology company for the design, development, manufacturing and marketing of devices able to 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 80 percent of the retina in a single capture. The image – branded the optomap® – provides eye care practitioners with clinically useful information that facilitates the early detection of disorders and diseases evidenced in the retina. Optos believes that its technology provides an unequalled combination of wide-field retinal imaging, speed and convenience for both practitioner and patient. Optos plc is headquartered in Dunfermline, Scotland and currently has approximately 200 employees serving more than 2,000 customers in four country markets – USA, Canada, UK and Germany. Optos plc trades on the Main Market of the London Stock Exchange under the symbol OPTS.
About Refac Optical Group – (source OptiCare)
OptiCare Eye Health & Vision Centers Inc. is a wholly-owned subsidiary of Refac Optical Group (AMEX:REF), which is a leader in the retail optical industry and the sixth largest retail optical chain in the United States. It operates at 543 locations in 47 states and Canada, consisting of 517 licensed departments, eight freestanding stores, 18 eye health centers and professional optometric practices, two surgery centers, one of which is a laser correction center, and two manufacturing laboratories. Of the 517 licensed departments, 351 are located at J.C. Penney stores, 67 at Sears, 49 in regional department stores, 30 at The Bay, a division of Hudson’s Bay Company, Canada’s oldest and largest traditional department store retailer, 13 departments at Meijer, and, most recently, seven at Macy’s. These licensed departments are full-service retail vision care stores that offer an extensive selection of designer brands and private label prescription eyewear, contact lenses, sunglasses, ready made readers and accessories.
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.