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news release:
Electronics
redesign will cut costs and improve break-even prospects for 2007
Vancouver, BC, Feb. 23: VSM MedTech Ltd.
(TSX:
VSM), world
leader in the emerging clinical market for magnetoencephalography (MEG)
functional brain imaging systems, will receive a contribution of $350,000 from
the Canadian Government.
The funding will offset part of the cost of a $1.5 million electronics redesign
initiative planned for the next generation of CTF MEG™ systems. The support will
be provided on a cost-incurred basis during 2006. The objective of the
initiative is to substantially reduce the cost of manufacturing CTF MEG systems
by the end of 2006, without sacrificing performance.
"In the emerging clinical market for MEG, we have earned the lead position with
superior technology and customer service," said Jack Price, President and Chief
Executive Officer of VSM. "This important electronics redesign should allow us
to increase our gross margins on MEG systems and will therefore improve our
prospects of achieving break-even status in 2007."
The redesign will reduce the size and cost of the electronics sub-system,
improving system performance in the clinical environment. The redesigned
electronics sub-system will allow VSM to make use of off the shelf, commercially
available computers and components and will also be more energy-efficient during
operation. The new MEG electronics will facilitate remote monitoring and
servicing, further improving support capabilities and reliability.
Customers worldwide have purchased 38 CTF MEG systems since 1993 including the
nine sales agreements announced during 2005. Because MEG uses a non-invasive
approach in an environment that is comfortable for the patient, it is gaining
medical acceptance worldwide for real-time, high-resolution mapping of brain
function. Long-recognized as a leading-edge research tool, MEG is increasingly
in demand in the much larger clinical market for the diagnosis and treatment of
neurological disorders.
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