DANVERS, Mass., Feb. 17 /PRNewswire-FirstCall/ -- Medwave, Inc. , the innovator in sensor-based, non-invasive blood pressure measuring solutions, announced today the first sales of its new product, the Primo(TM) non-invasive blood pressure monitoring system that eschews the century-old cuff-based sphygmomanometer. Medwave believes there is capability of addressing markets representing approximately $600 million in annual revenue with the palm-sized device, which provides unparalleled accuracy and convenience.
“I’m glad healthcare providers will be able to experience and benefit from this revolutionary technology,” said Tim O’Malley, CEO of Medwave, Inc. “We anticipate Primo will replace existing manual and automatic cuff-based systems, resulting in greater staff efficiency and increased patient satisfaction, all with a higher degree of accuracy.”
Published studies indicate that the standard, cuff-based system for blood pressure monitoring can generate readings that vary sometimes by as much as 10 percent, leading to potential misdiagnosis and inconvenience for the caregivers and their patients. In field tests, Primo proved to be nearly as accurate as invasive, arterial catheter-based technologies.
At approximately $1,000 per device, Primo is anticipated to save healthcare providers thousands of dollars as a result of increased efficiency. Standard blood pressure monitoring systems require an average of two minutes to yield a reading, whereas Primo presents a digital readout of pulse, systolic and diastolic blood pressure within 15 seconds. In addition, both manual and automatic blood pressure cuff products require annual maintenance and calibration, which adds hundreds if not thousands more to the cost of ownership of these products over their life span. The only maintenance required for Primo is battery replacement, which amounts to very little additional cost of ownership, approximately $130, over the life of the product.
“The existing technology is more than 100 years old, and it shows,” added O’Malley. “Blood pressure monitoring was overdue for a major innovation, and Primo represents that innovation.”
Medwave, Inc. develops, manufactures, and distributes sensor-based non- invasive blood pressure solutions. Its Vasotrac(R) APM205A NIBP Monitor, the Vasotrac(R) APM205A Model DS, and the MJ23 OEM Module are new approaches to non-invasive blood pressure monitoring. Medwave’s Legato(TM) OEM Developers Kit is designed to introduce the innovative Vasotrac(R) technology to OEM designers. The Primo(TM) Non-Invasive Blood Pressure Monitoring System, Medwave’s latest innovation, is designed to be sold into the point of care blood pressure monitoring market, estimated to be in the $600 million per year range. Medwave has received the necessary regulatory clearances to market its technology in Europe, Asia, and the United States. Medwave’s technology is installed in over 500 hospitals and clinics worldwide. Medwave has received the Seal of Acceptance from the Alliance of Children’s Hospitals, as well as the Frost & Sullivan Market Engineering Award for Technology Innovation and the Frost & Sullivan Customer Value Enhancement Award. Medwave currently has supply and/or other agreements with Nihon Kohden, Zoll Medical Corporation, Analogic Corporation, and a global electronics company. Medwave trades on the NASDAQ small cap market under the symbol MDWV. For more information, visit http://www.medwave.com .
Statements made in this release that are stated as expectations, plans, anticipations, prospects or future estimates or which otherwise look forward in time, including the company’s estimates of cost savings related to use of Primo, are considered “forward-looking statements” and involve a variety of risks and uncertainties, known and unknown, which are likely to affect the actual results. The following factors, among others, as well as factors discussed in the Medwave’s filings with the SEC, have affected and, in the future, could affect Medwave’s actual results: resistance to the acceptance of new medical products, the market acceptance of the Primo(TM) system, the Vasotrac(R) system and other products of Medwave, hospital budgeting cycles, the possibility of adverse or negative results or commentary from clinical researchers or other users or evaluators of Medwave’s products, Medwave’s success in creating effective distribution channels for its products, Medwave’s ability to scale up its manufacturing process, and delays in product development or enhancement or regulatory approval. Consequently, no forward- looking statement can be guaranteed and actual results may vary materially. Medwave(R), Vasotrac(R), Legato(TM), and Primo(TM) are trademarks of Medwave, Inc.
Medwave, Inc.
CONTACT: Investor Relations, Jodie Chastain, +1-800-894-7601, or MediaRelations, Kevin Sawyer, +1-612-465-8356, both of Medwave, Inc.
Web site: http://www.medwave.com/
