Diomed Announces Shipment of First VeinViewer Imaging Systems
May 03 2006 - 11:53AM
Business Wire
Diomed Holdings, Inc. (AMEX: DIO), a leading developer and marketer
of minimally invasive medical technologies, including its patented
EndoVenous Laser Treatment(R) (EVLT) for varicose veins, today
announced the market introduction of the VeinViewer(TM) Imaging
System for use in sclerotherapy, phlebectomy and varicose vein
treatment. "Last week we commenced commercial shipment of the
VeinViewer(TM) and we are thrilled to now be in a position to fill
the growing list of orders in this much anticipated product
introduction," stated James A. Wylie, Chief Executive Officer of
Diomed Holdings, Inc. "The VeinViewer has generated a great deal of
excitement and intense interest over the past several months and we
look forward to its initial impact during the second quarter." The
VeinViewer(TM), manufactured by Luminetx Corporation and cleared by
the FDA in 2004, is a breakthrough patented biomedical imaging
system which utilizes near-infrared light to illuminate, on a
real-time basis, subcutaneous veins to an average depth of 8mm and
projects their location on the surface of the skin with an accuracy
of 0.06 mm. VeinViewer(TM) is a unique guidance tool allowing
physicians to visualize the exact location and orientation of the
patient's veins, thereby providing more precise sclerotherapy and
phlebectomy procedures through increased accuracy in vein
targeting. Unlike other methods of targeting veins, this hands free
technology uses harmless near-infrared light to increase physician
effectiveness and decrease the amount of time to locate a vein.
Steven E. Zimmet, MD, Zimmet Vein and Dermatology, Austin, Texas
and President of the American College of Phlebology commented, "The
first time I saw the VeinViewer in action I was astounded. It's
clear to me that VeinViewer will become a very useful tool in my
everyday phlebology practice." Diomed's target market for the
VeinViewer(TM) encompasses physician specialties practicing radio
frequency and endovenous laser ablation of the greater saphenous
vein and its tributaries. The Company estimates that there are
between two and three million sclerotherapy and ambulatory
phlebectomy procedures performed annually in the United States.
Diomed plans to display the VeinViewer(TM) at the upcoming Society
of Vascular Surgery Annual Meeting in Philadelphia this June and
other leading medical conferences later in the year. "This is a
remarkable milestone, and we expect to continue to ramp-up our
VeinViewer sales as Luminetx expands its manufacturing output
during the quarter," added Wylie. "Importantly, the VeinViewer is
proving to be exactly what we thought it would be --- a door opener
for Diomed's sales force to access competitive laser and
radiofrequency physicians, and the entire market for venous disease
management solutions." Additional information about the
VeinViewer(TM) product can be found at www.DiomedInc.com. About
Diomed Diomed develops and commercializes minimal and
micro-invasive medical procedures that use its proprietary laser
technologies and disposable products. Diomed's EVLT(R) laser vein
ablation procedure is used in varicose vein treatments. Diomed also
provides photodynamic therapy (PDT) for use in cancer treatments,
and dental and general surgical applications. The EVLT(R) procedure
and the Company's related products were cleared by the United
States FDA in January of 2002. Along with lasers and single-use
procedure kits for its EVLT(R) laser vein treatment, the Company
provides its customers with state of the art physician training and
practice development support. Additional information is available
on the Company's website: www.evlt.com. EVLT(R) is a registered
trademark of Diomed Inc., Andover, MA. Safe Harbor Safe Harbor
statements under the Private Securities Litigation Reform Act of
1995: Statements in this news release looking forward in time
involve risks and uncertainties, including the risks associated
with trends in the products markets, reliance on third party
distributors in various countries outside the United States,
reoccurring orders under OEM contracts, market acceptance risks,
technical development risks and other risk factors. These
statements relate to our future plans, objectives, expectations and
intentions. These statements may be identified by the use of words
such as "may," "will," "should," "potential," "expects,"
"anticipates," "intends," "plans," "believes" and similar
expressions. These statements are based on our current beliefs,
expectations and assumptions and are subject to a number of risks
and uncertainties. Our actual results could differ materially from
those discussed in these statements. Our Annual Report on Form SEC
10-KSB/A (the "Annual Report") contains a discussion of certain of
the risks and uncertainties that affect our business. We refer you
to the "Risk Factors" on pages 23 through 38 of the Annual Report
for a discussion of certain risks, including those relating to our
business as a medical device company without a significant
operating record and with operating losses, our risks relating to
our commercialization of our current and future products and
applications and risks relating to our common stock and its market
value. Diomed disclaims any obligation or duty to update or correct
any of its forward-looking statements.
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