SonoSite Taps Pipeline To Compete In Expanding Hand-Held Ultrasound Space
This article was originally published in The Gray Sheet
Executive Summary
SonoSite's S-MSK hand-held ultrasound system for musculoskeletal imaging is among six new products the firm plans to debut in 2008 to help maintain a 15% annual growth rate
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Financings In Brief
Zonare Medical IPO would bolster portable ultrasound system sales effort: Maker of z.one compact ultrasound systems plans initial public stock offering worth up to $86.3 million, according to a July 2 preliminary prospectus filed with the Securities & Exchange Commission. A portion of the proceeds are tabbed for R&D, sales and marketing, as well as "general corporate purposes," the firm says. The Mountain View, Calif., company currently fields a 26-rep U.S. sales force and uses a combination of direct reps and distributors overseas. Revenue for the quarter ended March 31 was down 23% from last year to $8.9 million and the firm is not yet profitable, with an accumulated deficit of $148.5 million. Founded in 1999 as NovaSonics, the company received 510(k) clearance for its z.one system in 2002. The firm's primary competitors in the $4.4 billion worldwide ultrasound market include large players GE, Philips and Siemens, as well as smaller firms specializing in the handheld ultrasound market, including SonoSite, with which Zonare is in patent litigation (1"The Gray Sheet" March 3, 2008, p. 16). Underwriters for the IPO include Citi, Piper Jaffray, Cowen and Co., and Canaccord Adams
Financings In Brief
Zonare Medical IPO would bolster portable ultrasound system sales effort: Maker of z.one compact ultrasound systems plans initial public stock offering worth up to $86.3 million, according to a July 2 preliminary prospectus filed with the Securities & Exchange Commission. A portion of the proceeds are tabbed for R&D, sales and marketing, as well as "general corporate purposes," the firm says. The Mountain View, Calif., company currently fields a 26-rep U.S. sales force and uses a combination of direct reps and distributors overseas. Revenue for the quarter ended March 31 was down 23% from last year to $8.9 million and the firm is not yet profitable, with an accumulated deficit of $148.5 million. Founded in 1999 as NovaSonics, the company received 510(k) clearance for its z.one system in 2002. The firm's primary competitors in the $4.4 billion worldwide ultrasound market include large players GE, Philips and Siemens, as well as smaller firms specializing in the handheld ultrasound market, including SonoSite, with which Zonare is in patent litigation (1"The Gray Sheet" March 3, 2008, p. 16). Underwriters for the IPO include Citi, Piper Jaffray, Cowen and Co., and Canaccord Adams
SonoSite Touts Benefits Of Hand-Held Ultrasounds Over Traditional Modalities
Ultrasound devices are not responsible for the alleged imaging overuse currently being investigated by Congress, according to SonoSite CEO Kevin Goodwin