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Spencer Technologies and Terumo
Cardiovascular Systems Partner to Co-Develop Cerebral Monitoring Systems
SEATTLE, Wa and ANN ARBOR, Mich - SEPTEMBER 3, 2002 --
Spencer Technologies Inc., a company that develops, manufactures and
markets medical products utilizing proprietary digital Power M-Mode
Doppler (PMD) ultrasound technology, and Terumo Cardiovascular Systems
Corporation, a company that develops, manufactures and markets products
to the cardiac surgery market, today announced a strategic partnership
that will provide new cerebral monitoring options to the CV surgery
market.
Under the terms of the agreement, Spencer Technologies will manufacture,
and Terumo Cardiovascular Systems will be the exclusive distributor, of
the PMD transcranial Doppler system for the surgical monitoring of blood
flow in the brain. The parties also have an agreement to pursue the
development of future products utilizing the PMD technology.
The non-invasive ultrasound technology allows the CV surgeon to
accurately monitor changes in blood flow during surgery, which is
valuable in potentially reducing or preventing the incidence of
intra-operative and post-operative strokes. The technology has
significant advantages over the commonly used analog transcranial
Doppler (TCD) technology, including greater accuracy, reduction of the
time necessary to locate important blood vessels, and reduced training
time, all of which make the technology easier to use.
We are delighted with this partnership with Terumo in that it allows us
to penetrate and serve the very important cardiac surgery market, said
Scott Seidel, CEO and President of Spencer Technologies. Monitoring
brain blood flow using PMD technology could have a major impact on post
surgical outcomes.
While agreements are somewhat easy to find, true synergistic
partnerships are not. The specific expertise of both our companies, when
combined, will allow us to rapidly develop technologies which will help
produce better patient outcomes and benefit both of our companies, said
Terumo CVS’ CEO and President Mark Sutter.
Spencer Technologies was co-founded in 1992 by Dr. Merrill Spencer, a
pioneer in the development of diagnostic ultrasound. Spencer
Technologies is dedicated to preventing a variety of adverse
cardiovascular related events, including strokes, and significantly
improving healthcare through the development and use of non-invasive
ultrasound technologies for diagnosis, monitoring, and therapeutic
effects. Spencer Technologies is involved in all aspects of ultrasound
through integrated patient services, clinical research, R & D,
manufacturing, and marketing their products and services.
Terumo Cardiovascular Systems Corporation manufactures and markets
continuous monitoring systems and cardiopulmonary bypass products for
the cardiac surgery market. It is headquartered in Ann Arbor, Michigan
with manufacturing operations in Ann Arbor, as well as Elkton, Maryland;
Ashland, Massachusetts; Tustin, California; and Matamoros, Mexico. It is
a subsidiary of Terumo Corporation of Japan. Terumo Corporation is a
premier global medical company with 2001 annual sales in excess of $1.7
billion. Terumo Corporation develops manufactures, and markets a wide
range of medical products including syringes, needles, catheters, and
blood bags.
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