TORONTO, May 12 /PRNewswire-FirstCall/ - Novadaq(R) Technologies Inc.
(TSX: NDQ), a developer of real-time imaging and image guidance systems for
use in the operating room, today announced financial results for the first
quarter ended March 31, 2008. In this press release, unless otherwise
indicated, all dollar amounts are expressed in US dollars.
Q1 2008 Highlights
- SPY gaining traction with 14 new SPY systems installed, 22% increase
in SPY consumable sales and 20% increase in SPY capital revenue from
- Sentara Hospital System, Virginia's largest cardiac surgery program
completes multiple SPY System capital purchase and adopts SPY as
standard of care.
- SPY adopted in 9 leading plastic and reconstructive surgery centers
(including Cleveland Clinic, Duke University, and University of
Southern California) since Q4 2007 launch.
- SPY Scope testing in large animal model continues to demonstrate
efficacy of SPY imaging in minimally invasive surgery applications
and is on-track for human trials in Q4 2008.
Events Subsequent to Q1 2008
- Positive results from two European centers using OPTTX presented at
the Association for Research in Vision and Ophthalmology annual
meeting support OPTTX partnership opportunities.
"I am pleased with the developing fundamentals of the SPY business as
we had our best quarter for SPY placements, and showed strong growth in
consumable and capital sales." said Dr. Arun Menawat, President and Chief
Executive Officer of Novadaq Technologies Inc. "Plastic surgery has been a
catalyst in accelerating SPY adoption, and continued growth in SPY will be
supported by the launch of quantification software in the second half of
2008 and by our continued support in getting surgeons paid for SPY
Quarter Ended March 31,
|SOURCE Novadaq Technologies Inc.|
Copyright©2008 PR Newswire.
All rights reserved