Integrated Surgical Systems, Inc. (ISS) signs a letter of intent with FUJIFILM Medical Systems, USA (Fuji) for it to purchase additional technology and marketing rights for its Synapse system for the Picture Archiving and Communications Systems (PACS) market.
Davis, CA (PRWEB via PR Web Direct)
November 30, 2004 -– Integrated Surgical Systems, Inc. (OTC:RDOC.PK), a world
leader in medical robotics and image-directed, semi-autonomous robotic products
for surgical applications, announced today that it has signed a Letter of Intent
with FUJIFILM Medical Systems, USA (Fuji) for it to purchase certain additional
technology and marketing rights for the PACS market to those already granted
under the current product development agreement. Both parties will immediately
enter into negotiations to arrive at definitive agreements that are subject to
formal approval by the respective Board of Directors.
A development agreement already exists between the two Companies and it calls for ISS to employ its proprietary, FDA cleared 3D planning software technology to develop 2D/3D orthopedic surgical planning software which will be jointly integrated into Fuji’s Synapse system. This new agreement will formalize Fuji’s plans to market the product that is already under development and offer opportunities for closer integration of the technologies of both organizations.
“Fuji’s strong worldwide market position in the rapidly growing PACS market makes it an ideal partner for ISS. The strong proprietary and leadership position of ISS in the Orthopedic software technology area led Fuji to enter into this expanded relationship" added Dr. Ramesh C. Trivedi, President & CEO of Integrated Surgical Systems.
Integrated Surgical Systems designs, manufactures, sells and services image-directed, computer controlled robotic products for use in orthopaedic and neurosurgical procedures. Our ROBODOC® Surgical Assistant System is the world’s leading robotic system for hip and knee replacement surgery.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including the timely development and market acceptance of new products and upgrades to existing products, the impact of competitive products and pricing, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission (SEC).
ROBODOC® is a registered trademark of Integrated Surgical Systems, Inc.
Integrated Surgical Systems
Ramesh C. Trivedi, Ph.D. – President and CEO
Chuck Novak – CFO
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Source : http://www.prweb.com/releases/2004/12/prweb184281.htm