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Christie Acquires Assets from Luminetx Corporation
January 7, 2010
Source: Christie
Digital
Christie, a global
visual technologies company, announced today that it has acquired
substantially all of the assets of Luminetx Corporation, a
medical biosciences technology company.
The assets include Luminetx’ technology and intellectual
property for the market leading vascular imaging system, VeinViewer.
VeinViewer is the first device to utilize patented technologies
to locate subcutaneous veins and project a real-time image
of their location onto the surface of the skin. Christie will
create a new medical products business operating under Christie
Medical Holdings, Inc. (“Christie Medical”).
“Christie’s global presence and world-class manufacturing
and engineering know-how in visual display technology will
enable us to expand our products into multiple new markets,
and to continue advancements in bettering patient care the
world over. We look forward to finding new and better ways
to improve healthcare delivery.”
Christie Medical will leverage the strengths
of one of the most innovative non-invasive technologies in
healthcare with Christie’s leadership in advanced visual
technologies.
The VeinViewer system uses near infrared light to detect a
patient’s veins through the skin and sophisticated image
processing technology to project a map of the vasculature
on top of the skin. The benefits of this technology include
improved peripheral vascular access resulting in significantly
fewer intravenous (or IV) sticks, less time to start an IV,
improved patient comfort and reduced healthcare operating
costs. It is estimated that nine out of every ten procedures
within a hospital start with IV access and there are over
one billion vein punctures performed annually in the US alone.
“We’re excited by the potential of this acquisition,”
said George Pinho, President, Christie Medical. “Christie’s
goal is to diversify into emerging markets and we saw a unique
opportunity to enter the medical imaging industry.”
Pinho noted that moving forward, Christie will leverage its
core competencies in image projection, optical and mechanical
design, and expertise in DLP® technology to help Christie
Medical further penetrate markets in medical visualization.
“Our combined teams will create exciting growth opportunities,
through our collective capabilities and complementary technologies.”
“Christie’s extensive history and expertise in visual
displays will offer exciting opportunities and applications
for the VeinViewer technology platform,” added Chris
Schnee, formerly of Luminetx, who has joined Christie Medical
as General Manager and Vice President, Sales & Marketing.
“Christie’s global presence and world-class manufacturing
and engineering know-how in visual display technology will
enable us to expand our products into multiple new markets,
and to continue advancements in bettering patient care the
world over. We look forward to finding new and better ways
to improve healthcare delivery.”
Recognized by TIME Magazine as "one of the most amazing
medical inventions of the year1" the VeinViewer technology
has received worldwide recognition, most recently taking home
the 2009 Global Business Award from the Memphis Chamber of
Commerce International Business Council for a company with
less than 100 staff.
Christie Medical is committed to ensuring that there will
be no disruption to operations, service, sales, distribution
and support for the VeinViewer business.
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