01 Mar 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Signostics, an Adelaide-based medical devices company, has unveiled its new ultrasound device Signos RT. The device is Signostics' second generation portable handheld ultrasound device and builds on the cutting-edge technology of the original Signos device by giving users the critical ability to view ultrasound images in real time.
Signostics anticipates that the Signos RT will attract widespread interest from medical practitioners, healthcare professionals and veterinarians globally. The product is already available for sale in Australia and Europe, with US availability for the human market pending 510(k) clearance.
Signostics was established in Adelaide, South Australia, in 2005 and launched its first product into the veterinarian market in 2009 before gaining regulatory approvals to enter the human medical device market in Australia, the US and Europe.
Signos RT features unique patented technology and an award-winning design to provide a completely portable, lightweight, handheld ultrasound device for point-of-care use by medical personnel in a number of clinical settings. It has been aided also by private investors and venture capital funding.
Signostics Chairman Mr Raymond Spencer says development of the Signos RT was made possible by a $1.9 million early-state commercialization grant from Commercialisation Australia (awarded in August 2011), which helped position the company to capture a larger slice of the growing personal ultrasound market currently estimated to be worth around $3 billion globally.
"From humble beginnings, Signostics has already enjoyed tremendous success and is now on the verge of becoming a worldwide leader in fast and affordable point-of-care medical devices," said Mr Spencer. "The next-generation Signos RT has the potential to change the future of medicine and allow physicians to see more and do more anywhere at any time."
Distribution partnership with Japanese company
Signostics has announced a key distribution partnership with Konica Minolta Medical & Graphic.
"At Signostics, we have more than just imagination and today we can announce we have signed an agreement with Konica Minolta Medical & Graphic to sell our devices exclusively in Japan, the US, China and India," said Mr Warren Ortmann, chief executive officer, Signostics. "We have also received enormous interest from potential distribution partners throughout Europe, South East Asia and our own Australian market who have seen and experienced our prototype device."
Under the agreement, Signostics will manufacture the Signos RT with the help of partner suppliers and deliver it exclusively to Konica Minolta Medical & Graphic under their brand, Sonimage P3, to promote and sell via their existing supply channels in both the human and veterinary markets.
Mr Atsushi Kodama, president and CEO of Konica Minolta Medical & Graphic, said the company was anticipating an exciting future ahead. "We are very excited about selling this truly portable and flexible point-of-care imaging tool and incorporating it into our product portfolio," said Mr Kodama. "Signostics has developed a revolutionary product which we believe will have a significant impact across our global markets."
South Australian Minister for Manufacturing, Innovation and Trade Mr Tom Kenyon also congratulated Signostics on its achievement and praised the company for its commitment to innovation. "This is a big win for South Australia with the main component of this new ultrasound device to be manufactured right here in Adelaide," said Mr Kenyon. "Developing niche, high-value products such as this is one is a key objective of South Australia's Manufacturing Works strategy. It's a great example of what can be achieved when industry, researchers and government work together."