For Immediate Release
NOVADAQ and CHC Healthcare Group Announce International
SPY and PINPOINT Distribution Agreements
Toronto, Ontario and Taipei, Taiwan – January 2014 – NOVADAQ® Technologies Inc. (“NOVADAQ” or the “Company”) (NASDAQ: NVDQ, TSX: NDQ), a developer of clinically-relevant imaging solutions for use in surgical and outpatient wound care procedures and CHC Healthcare Group (“CHC”) (TWSE: 4164 TT), a leading distributor of radiation oncology and medical imaging equipment in Asia, today announced that the companies have entered into international distribution agreements pursuant to which CHC has become exclusive distributor of NOVADAQ Imaging Systems for the regions of Greater China (including China, Hong Kong and Taiwan). Both parties have agreed upon minimum annual purchase commitments for each country in the territories.
“CHC’s is a full service solution provider for high-end radiotherapy, neuroscience, surgical, and diagnostic imaging equipment and their practices are serving as a model for the use of advanced medical equipment in China”, stated Dr. Arun Menawat, Ph.D., M.B.A., President and Chief Executive Officer of NOVADAQ. “As such, they are the ideal partner to introduce NOVADAQ’s point-of-care fluorescence imaging technologies into the large and growing markets covered by the agreements announced today”.
The cooperation between NOVADAQ and CHC shall set a milestone for Taiwan’s medical industry. We strongly believe that SPY Imaging System will efficiently improve the outcomes of surgery in future“, stated Mr. Pei-Lin Lee, Chairman of Chiu Ho Medical Systems. “CHC is the market leader in Greater China region with strong presence. Therefore, we are very confident that we will successfully bring NOVADAQ’s products into the booming Asia market and create great value.”
About NOVADAQ Technologies Inc:
Enabling medical professionals with clinically relevant, point-of-care imaging solutions to enhance the lives of patients and their caregivers, while reducing health care costs, is NOVADAQ’s global mission. SPY® fluorescence imaging technology provides surgeons with real-time visualization, leading to improved outcomes and reduced costs without exposing the patient to radiation. More than 80 peer-reviewed publications demonstrate that the use of SPY imaging during complex surgery, leads to fewer post-operative complications and lower hospital costs.
SPY Imaging Systems are United States Food and Drug Administration 510(k) cleared for use in seven surgical specialties. The endoscopic version of SPY called PINPOINT®, combines the capabilities of SPY Imaging with high definition (“HD”) visible light visualization offered by conventional endoscopes. LUNA™ is used to assess perfusion in patients being treated for non-healing wounds. In August 2013, NOVADAQ acquired the surgical scintigraphy imaging technology, which is being developed for perioperative imaging of sentinel lymph nodes and tumor margins. Our unique business model of partnering with market-leading companies to drive adoption of our imaging technology, while building our own commercial infrastructure, is the cornerstone of our corporate strategy for growth.
About CHC Healthcare Group:
CHC is a leading Greater China full service solution provider for high end Radiotherapy, Neurosurgery and Diagnostic Imaging Equipment. With more than 30 years extensive experience in Taiwan, CHC is now the largest high end medical equipment distributor in Taiwan and aims to become the regional leader in Asia Pacific Region. Moreover, CHC is the only pure play of medical equipment distributor listed in Taiwan Stock Exchange. Due to the experienced and certified medical consulting team, CHC could therefore differentiate from other competitors in the region.
Forward Looking Statement:
Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on NOVADAQ’s current beliefs as well as assumptions made by and information currently available to NOVADAQ and relate to, among other things, the Company’s strategy, strategic goals, research and development activities, research and clinical testing outcomes, taxes, capital expenditures, future operations, future financial position, future revenues/results, projected costs, prospects and plans and objectives of management.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by NOVADAQ in its public securities filings available at www.sec.gov and www.sedar.com, actual events may differ materially from current expectations. NOVADAQ disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
David C. Martin
Vice President, Corporate Development and Investor Relations
NOVADAQ Technologies Inc.
905-629-3822 ext: 218
CHC Healthcare Group
5F, No. 380, Chang Chun Rd.,
Taipei 10487, Taiwan, R.O.C.