SPENCER TECHNOLOGIES APPOINTS FORMER PHILIPS VETERAN JACK PRICE TO BOARD OF DIRECTORS

Medical Devices Expert Joins Ultrasound Manufacturer as Board Member

SEATTLE, Washington— June 27, 2005 —Spencer Technologies, the leading medical ultrasound manufacturer of digital Power M-Mode™ transcranial Doppler (PMD-TCD), announced today the addition of Jack Price to its Board of Directors. Price is currently President and CEO of VSM Medtech Ltd., in Vancouver, B.C.
 

Price served as President and Chief Executive Officer of Philips Medical Systems North America for over seven years. During his tenure at Philips, he achieved record growth for the organization that exceeded 14% annually while continuing to provide double-digit growth of income from operations. Under Price’s leadership, the North American organization grew from a $495M business to a $3.5B business through a combination of organic growth and acquisitions.
 

Price’s tenure included four major acquisitions including Hewlett-Packard’s Agilent, Healthcare Solutions Group, and Marconi Medical Systems. Price’s illustrious career also includes five years with GE Medical Systems where he held positions including the General Manager of Global X-Ray Business and Vice President of Marketing for Europe, the Middle East, and Africa.
 

“I find the products and technology that Spencer Technologies is working on to be most exciting, and I personally believe we can leverage the existing efforts into an exceptional success,” said Price.
 

Spencer Technologies is assembling a management team and Board with the domain expertise and business success that is unparalleled in companies offering transcranial Doppler ultrasound solutions.
 

“Price’s background and industry knowledge will be a fantastic addition to the Spencer team as we grow these exciting new business opportunities,” said Jim Noack, President and COO for Spencer Technologies. “Our platform technology is rapidly becoming the gold standard for transcranial Doppler diagnostics, and is a major research tool in the study of patent foramen ovale (PFO) as it relates to both stroke and migraine.”
 

ABOUT SPENCER TECHNOLOGIES
Spencer Technologies is a recognized world leader in transcranial Doppler ultrasound technology, which is a method for non-invasive assessment of brain blood flow. Spencer Technologies’ development of the first digital Power M-Mode transcranial Doppler system, the PMD100, introduced a new paradigm in the technology and created new applications while expanding existing ones. The technology has been credited with providing a non-invasive way to test for PFO, recently identified as a contributor to migraine headaches and strokes. This has allowed the company to progress from a premier research and development company into a commercial global enterprise with products that are already having a significant impact on healthcare.

Spencer Technologies’ PMD100 contains Spencer’s patented Digital Power M-Mode Doppler (PMD) technology. Introduced in 2001, this technology can quickly, easily, and accurately evaluate blood flow within the brain providing more detailed and accurate information to the clinician than previously available. Spencer Technologies proprietary digital platform is the cornerstone of their core technology.