TROY, Mich., June 23 /PRNewswire-FirstCall/ -- Somanetics Corporation , a health care equipment company that develops, manufactures and markets the INVOS(R) Cerebral Oximeter, the only monitoring system commercially available in the U.S. that noninvasively and continuously monitors changes in a patient's regional brain blood oxygen saturation, today announced that the Company is scheduled to join the Russell 2000(R) and Russell 3000(R) indexes. The newly reconstituted Russell indexes will become effective at the close of the U.S. markets on June 24, 2005.
"During the past year, Somanetics has achieved several significant milestones, including strong revenue and bottom line growth and the presentation and publication of new clinical results showing the benefits of use of the INVOS Cerebral Oximeter," said Bruce Barrett, Somanetics president and chief executive officer. "The year also was marked by the increased adoption of our technology in our target markets, expanded sales and marketing resources and the introduction of our monitoring system into new markets. Our inclusion in the Russell indexes is a reflection of Somanetics' substantial progress and will help to increase our visibility."
Membership in the Frank Russell Company indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. More than $360 billion is invested in index funds based on Russell's indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index. For more information, visit http://www.russell.com .
About Somanetics
Somanetics develops and markets the INVOS(R) Cerebral Oximeter, which occupies a unique position in U.S. hospitals as the only commercially available monitoring system that noninvasively and continuously monitors changes in a patient's regional brain blood oxygen saturation. Use of the INVOS Cerebral Oximeter helps medical professionals, such as surgeons and anesthesiologists, identify regional brain blood oxygen imbalances and take corrective action. Such action can prevent or reduce neurological injuries related to adverse events during surgery or in the critical care unit and reduce the associated cost of care. The device is used in situations where there is a high risk of brain oxygen imbalances, such as adult and pediatric cardiac surgeries, other major surgeries involving elderly patients and some intensive care unit applications. Somanetics also markets the CorRestore(R) System, a cardiac implant used in cardiac repair and reconstruction, including an operation called Surgical Ventricular Restoration, or SVR, a surgical treatment for patients with certain types of severe congestive heart failure. Somanetics' web site is http://www.somanetics.com .
Somanetics CorporationCONTACT: Mary Ann Victor, Vice President, Communications of SomaneticsCorporation, +1-248-689-3050 ext. 204, Fax: +1-248-689-4272