KNOXVILLE, Tenn., Dec. 1 /PRNewswire-FirstCall/ -- CPS Innovations, a unit of CTI Molecular Imaging, Inc. , and a leading developer and manufacturer of positron emission tomography (PET) equipment, announced today that it has installed its 25th 16-slice PET/CT imager, bringing the total installed base of all PET and PET/CT systems manufactured by CPS to over 700 units world-wide. CPS Innovations continues to lead the PET market with an estimated market share of over 50% of all PET and PET/CT systems installed, according to the latest Frost and Sullivan estimates.
"We announced the release of our 16-slice PET/CT system at the RSNA last year and have now delivered more 16-slice PET/CT systems than all other manufactures combined," said Greg Brophy, President of CPS Innovations. "The 16-slice PET/CT system demonstrates our commitment to provide innovative new technology to the clinician as we seek to improve the quality of patient care."
CPS Innovations integrates the latest generation of 16-slice CT with CPS' LSO Fast-PET technology, to provide a PET/CT system which is uniquely versatile in performing both state-of-the-art oncology scans, as well as leading edge cardiac examinations, with significantly faster scan times than competing technology.
In June 2003, researchers at UCLA Medical Center were awarded the Society of Nuclear Medicine Image of the Year for their work on LSO Fast-PET imaging protocols, providing high-quality PET/CT images in as little as 7 minutes.
"We've seen a dramatic increase in the demand for multi-slice CT combined with Fast-PET LSO technology," commented Brad Herrington, CPS Innovation's Vice President of Marketing. "We've achieved a record backlog of orders which predominantly are for 16-slice PET/CT. Our recent addition of a mid-tier 6- slice CT demonstrates our commitment to providing clinicians with a wide spectrum of choices in clinical performance and capabilities."
About CPS Innovations:
CPS Innovations is the trade name for CTI PET Systems, Inc., a joint venture between CTI Molecular Imaging, Inc. and Siemens Medical Solutions USA, Inc. CPS develops and manufactures PET scanners and other imaging technology, which it sells through distributors, including Siemens Medical Solutions USA, Inc., CTI Molecular Imaging, Inc., Hitachi Medical Systems of America, Inc, and Toshiba Medical Systems Corporation Japan.
CTI Molecular Imaging, Inc. is a leading supplier of products and services for positron emission tomography (PET), a diagnostic imaging technology used in the detection and treatment of cancer, neurological disorders and cardiac disease. Additional information is available at: http://www.ctimi.com/.
About PET and PET/CT:
PET images the biology of diseases at the molecular level, often before anatomic changes are visible or, in some cases, before symptoms appear. Diseases are biological processes and it is these processes that PET examines. PET/CT is a new imaging technology that combines the biological examination of patients by PET with the CT images of the body's structural detail. PET/CT technology improves the diagnostic accuracy and treatment management of patients by providing surgeons, radiation oncologists and other physicians precise anatomical landmarks associated with the disease condition as determined by PET.
PET's whole-body imaging capability helps physicians improve their ability to detect and determine the location, extent and stage of cancer, neurological disorders and cardiac disease. By improving diagnosis, PET scans aid physicians in selecting better courses of treatment, as well as assessing whether treatment is effective or should be changed. Recent published clinical trials have shown that in a wide array of cancers, the use of PET has caused the treatment to be changed for 15 to 50% of patients, depending on the specific clinical question. In addition, PET and PET/CT provide both the patient and their physician with a degree of certainty that is often unavailable through other imaging methods.
Michael A. Lawless of CTI Molecular Imaging, Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the business of CTI Molecular Imaging, Inc. ("CTI") that are not historical facts are "forward- looking statements" that involve risks and uncertainties. Further information regarding such risks and uncertainties and other factors that could adversely affect CTI or cause actual results to differ materially from those anticipated in forward-looking statements are included in CTI's Annual Report on Form 10-K for the fiscal year ended September 30, 2002, Quarterly Reports on Form 10-Q, and in other reports CTI files with the SEC. CTI undertakes no obligation to update or revise any forward-looking statements.
CTI Molecular Imaging, Inc.