Invivo Announcements Agreement With Philips Medical System
Invivo has entered into an agreement with Philip Medical Systems Nederland B.V. to develop an integrated MRI compatible patient vital signs monitoring system for use with Philips MRI scanner designed for cardiovascular disease diagnosis.
"As world leader in MRI patient vital signs monitoring, Invivo Research, Inc. was the logical choice, possessing the technological wherewithal to design and manufacture this unique system for Philips. By building the patient vital signs monitoring system directly into the MRI scanner, both maximum efficiency and patient safety are simultaneously addressed," stated James B. Hawkins, President & CEO of Invivo Corporation.
"We believe Philips Medical Systems' Cardiovascular MRI scanner to be on the cutting edge of technology and that it will revolutionize the diagnosis of cardiovascular disease. We are pleased to be a partner with Philips involved in this exciting project. The utilization of Invivo Research's highly experienced MRI-oriented research and development team, in tandem with funding from Philips Medical Systems, has made it possible for us to enter into this prestigious relationship," concluded Hawkins.
(This announcement contains forward-looking statements including those regarding the future effectiveness of the Philips scanner. These statements involve certain risks and uncertainties. Factors that may cause actual results to differ from expected results include, but are not limited to, the uncertain growth prospects for new markets, the Company's dependence on a concentrated line of products, the effects of competitive products and pricing, economic and political conditions that may impact customers' ability to fund purchases of our products and services, fluctuations in international exchange rates, product liability and product recall risks and other business factors. For information regarding these risks and other related risks, see the "Risk Factors" section of the Company's most recent Form 10-Q on file with the SEC.)