COMPANY STATES ONGING AND INCREASING DEMAND FOR REAL-TIME IMAGE ENHANCEMENT IN ULTRASOUND
BOSTON, MA and STOCKHOLM, Sweden – October 23, 2007 – ContextVision, software imaging partner for the most recognized medical imaging manufacturers worldwide, today announced strong customer growth for its OEM-based (Original Equipment Manufacturer) product lines during Q3 of 2007. The company reported a third quarter revenue of 23.4 MSEK (10.9 MSEK)*, representing a sales growth of 116%, and an operating profit of 12.3 MSEK (0.6 MSEK)* with an operating margin of 52% (6%)*. The strong demand was primarily led by new US customers interested in ContextVision’s GOPView US (ultrasound) real-time image enhancement software. Demand for image enhancement in the X-ray industry played a significant role in this growth as well. This quarter evidences ContextVision’s successful business model with inherent financial leverage, where a significant part of an increase in sales directly affects the operating profit.
“Our continued efforts to build partnerships with leading manufacturers throughout the globe, as well as the increasing popularity of ultrasound equipment, are driving this growth,” commented Jan Erik Hedborg, CEO, ContextVison. “We are gaining more and more confidence in our ambitious growth targets beyond 2007.”
To date, seventeen ultrasound manufacturers, including worldwide leaders in ultrasound technology, are buying ContextVision’s software for real-time speckle reduction and image enhancement.
ABOUT GOPView US
GOPView US reduces noise and speckle in real-time, while also achieving fine structural and edge enhancement. Additionally, it offers clinical and ergonomic advantages, such as higher diagnostic confidence and reduction of eye fatigue. GOPView US works on all imaging modes, including Color/Doppler and 3D/4D imaging.
Each OEM customer of ContextVision’s GOPView US product line receives an optimized unique product that ensures the highest image quality, based on the customer’s specific requirements. To date, GOPView US has been primarily adapted for high-end systems, but the same functionality may be achieved in lower-level equipment. This allows manufacturers to compete with products in higher segments. A mid-level piece of equipment that uses GOPView US for its image enhancement is now able to compete with high-end equipment that uses less sophisticated image enhancement tools.
ContextVision launched the GOPView US product line at RSNA 2003, creating an unofficial standard for ultrasound image quality.
*Numbers in parentheses, shown here for comparison, refer to results from the same period of the previous year.
ContextVision is the leading independent developer in medical imaging enhancement, analysis and processing technologies, serving leading OEMs and distributors for over 20 years. ContextVision’s patented GOP algorithm allows unprecedented image quality to be achieved by simultaneously enhancing fine structure while reducing noise and speckle across MRI, X-Ray, Ultrasound and CT image data. ContextVision’s technology enables the company’s customers to provide superior digital imaging quality for hospitals and clinicians. Such solutions promise more rapid and accurate diagnoses, reduced operator eye fatigue, and ultimately, a greater return on investment for medical imaging users. ContextVision’s embedded imaging software is relied upon daily by thousands of users around the globe. For more information, please visit www.contextvision.com