TORONTO, ONTARIO — (Marketwire) — 02/29/12 — The Medipattern Corporation (“Medipattern”) (TSX VENTURE: MKI), a pioneer in the development of medical imaging software solutions that help medical practitioners to better understand lesions and critical anatomy, announced second quarter results from the company-s 2012 financial year, to December 31, 2011.
“Medipattern opened new market segments with its entry into the vascular arena, allowing radiologists, cardiologists, vascular surgeons, endocrinologists and primary care physicians to perform carotid duplex exams. During product launch, it became clear that 3D rendering of the lumen in carotid arteries and automatically measuring luminal reduction of the pathway to the brain could provide significant clinical value,” stated Jeff Collins, President and CEO of Medipattern. “A white paper was presented at the Society of Vascular Ultrasound and later two case studies show that Visualize:Vascular 3D rendering extends beyond the clinical information gained from a 2D Carotid Duplex Exam. In both case studies, the Carotid Duplex Exam showed minor elevation of Stenosis in the internal carotid arteries while Visualize showed significant luminal reduction indicative of restricted blood flow to the brain. Further imaging using Computed Tomography Angiography (CTA) and Magnetic Resonance Angiography (MRA) confirmed that the results from Visualize correlated to angiography, well above the levels reported using 2D ultrasound. In each instance, Visualize gave the physician vital information which impacted patient diagnosis, resulting in a revised treatment plan and surgery. Post surgical pathology confirmed that the patients did have significant plaque which was unstable, a classification of plaque that is strongly associated with causing massive strokes. The patient treatment plan was modified to avert potential stroke. Today the patients are recovered, well and able to lead more active lives.”
“We are pleased to receive acknowledgement from Aunt Minnie, the Radiology industries leading web site, of Visualize:Vascular as a Semi-finalist for “Best Radiology Software Product of the year in 2011. Medipattern was honored at the same level as major ultrasound vendors such as GE Healthcare and Siemens as well as major visualization companies such as TeraRecon and Vital Images.”
“Medipattern continues to grow our installed base and to reach new market segments. Visualize:Vascular is now installed in over 20 facilities carrying the product-s assistance to physician-s serving primary, secondary and tertiary care facilities,” Collins continued. “Bringing each new facility online to embed Visualize into their workflow requires process changes to these medical facilities. They believe that Visualize:Vascular is worth including in their standard protocol. Our product expansion positions the company well for the remainder of calendar year 2012.”
Financial Summary for Q2 Fiscal 2012:
Results of Operations (note 1):
THE MEDIPATTERN CORPORATION
UNAUDITED STATEMENT OF OPERATIONS and COMPREHENSIVE INCOME (LOSS)
FOR THE THREE and SIX MONTHS ENDED DECEMBER 31, 2011 AND 2010
For further details concerning Medipattern-s results, please see the Company-s filings on SEDAR. ().
About the Medipattern Corporation:
Medipattern® is a pioneer in the development of imaging software solutions that help medical practitioners to better understand lesions and critical anatomy. Medipattern uses its Cadenza technology to process images, finding the salient region of interest and presenting them in 2D and 3D formats that enhance the reader-s perception. For more information, please visit the Company-s website: .
Medipattern® is a registered mark of The Medipattern Corporation. Visualize:Vascular is a trademark of the Medipattern Corporation.
Forward-looking statements
This document contains forward-looking statements relating to Medipattern-s performance, operations, or business environment. These statements are based on what we believe are reasonable assumptions given currently available information and our understanding of Medipattern-s current activities. We have tried, whenever possible, to identify these forward-looking statements using words such as “anticipates”, “believes”, “estimates”, “expects”, “plans”, “intends”, “potential”, and similar expressions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. A number of factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements. These factors include but are not limited to those set forth in the Company-s corporate filings, (posted at ). In addition, these forward-looking statements relate to the date on which they are made. The Company disclaims any intention or obligation to update or revise any forward-looking statements for any reason. Readers should not rely on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
The Medipattern Corporation
Jeff Collins
CEO
(416) 744-0009 ext. 224
Spinnaker Capital Markets Inc.
Kevin O-Connor
(416) 962-3300 ext. 226
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