Company Purchases 2,960,350 Shares of Its Common Stock at $30.00 Per
Share
BOTHELL, Wash. — SonoSite, Inc. (Nasdaq:SONO), the world leader and specialist in
hand-carried ultrasound for the point-of-care, today announced the final
results of its modified “Dutch Auction” tender offer which expired at
5:00 p.m. New York City time on February 19, 2010.
Based on the final count by the depositary, an aggregate of 2,960,350
shares of common stock were properly tendered and not withdrawn at
prices at or below $30.00. Accordingly, pursuant to the terms of the
Offer to Purchase, the Letter of Transmittal and applicable securities
laws, SonoSite has accepted for purchase 2,960,350 shares of its common
stock at a purchase price of $30.00 per share. These shares represent
approximately 16.9% of the shares outstanding as of February 24, 2010.
With the completion of the tender offer, SonoSite will have
approximately 14,509,464 shares of common stock outstanding. The
aggregate purchase price that will be paid by SonoSite in connection
with the tender offer is $88,810,500, excluding transaction costs.
The depositary will promptly pay for the shares accepted for purchase.
The tender offer was made pursuant to an Offer to Purchase and Letter of
Transmittal, each dated January 19, 2010, filed with the Securities and
Exchange Commission on January 19, 2010, as amended on January 28, 2010,
February 16, 2010 and February 22, 2010.
Attention: Business/Financial Editors
The Medipattern Corporation (”Medipattern”) (TSX VENTURE: MKI), a pioneer in the development of medical software solutions that help improve imaging workflow and productivity, is pleased to announced that it has signed its largest B-CAD-FOR-LIFE agreement to date with Doshi Diagnostic Imaging Services (”Doshi”). Doshi operates 38 sites with more than 115 sonographers located in both New York and Florida, and plans to deploy the B-CAD-FOR-LIFE package throughout all its locations. Installation has started and will commence based upon a rollout schedule over the next several months.
B-CAD® is computer aided detection (CAD) for breast ultrasound imaging. B-CAD can streamline workflow, provide a consistent communication platform, eliminate transcription costs and maintain compliance with the ACR BI-RADS (American College of Radiology – Breast Imaging Reporting and Data System) standards for breast ultrasound. It is an ideal tool for large imaging groups where communication is a key part of an accurate reporting process. Under the B-CAD-FOR-LIFE package all of the separate components that are required to install, train, use and maintain B-CAD are available under one monthly fee.
After decades of delivering exceptional service to its patients, Doshi Diagnostic, the premier radiology provider on the east coast, created “TOTAL BREAST CARE” – a program solely dedicated to improving the delivery of breast care for women. The Center is focused exclusively on breast health by providing the most advanced tools and techniques for the diagnosis and treatment of breast disease and breast cancer. Doshi Diagnostics Total Breast Care program provides every facet of breast cancer care on-location. This patient-focused, world-class center incorporates every facet of optimal breast health management. To minimize waiting for results, the center strives to provide women with results from their screening examinations and any additional studies needed before they leave the Center.
“We provide the most innovative testing available in the management of breast care, including Digital Mammography, Breast Ultrasound, Breast MRI, Stereotactic Biopsy, Ultrasound-Guided Biopsy, MRI-Guided Biopsy, Pathology, Surgery, and Oncology in a centralized medical center setting. Now, we are pleased to include CAD for breast ultrasound in our TOTAL BREAST CARE package,” comments Dr. Leena Doshi, founder and medical director of Doshi Diagnostic Imaging. “DOSHI has grown from my first office in Flushing to be the largest privately owned imaging practice in the United States. Weve grown through our active pursuit of quality in patient care, and B-CAD exemplifies our mission. B-CAD improves quality of communication, thoroughness in reporting and enrichment of evidence-based medicine which all contribute to improved patient care. The B-CAD-FOR-LIFE addresses many of the purchasing decisions facing imaging centers in the U.S. today. This was one of the easiest decisions weve made.”
After 19 years of providing care for patients at the Faulkner-Sagoff
Breast Imaging and Diagnostic Centre, internationally recognized breast
imaging expert, Elsie Levin, M.D. will lead the first freestanding
imaging center in the greater Boston area dedicated exclusively to
breast health. “The mission of our center is to provide a specialized
imaging environment focused on compassionate breast health care. We will
be offering the most advanced screening technologies, as well as
accurate and timely results for all of our patients and referring
physicians” said Levin, the center’s medical director. She added, “We
hope to change the patient experience and replace the clinical
atmosphere of hospitals and imaging centers with a warm, comfortable,
relaxing, spa-like environment. We want to raise the level of care for
women seeking breast imaging services throughout the region.”
Unlike most other breast centers in the area, Boston Breast Diagnostic
Center offers same day consultation with the radiologist. According to
Dr. Levin, “Our patients can get their screenings, and if necessary, a
diagnostic ultrasound, MRI or biopsy in the same location and, often on
the same day. This helps alleviate the anxiety often associated with
breast imaging and awaiting results, which at some centers can take
weeks.”
State-of-the-Art Technology Raises the Level of Care
In Massachusetts, breast cancer affected more than 4,800 women last
year, and remains one of the most frequently diagnosed cancers in women.
With that in mind, Dr. Levin and her team felt strongly about offering
their patients and referring physicians the most advanced technology
currently available for the early detection of breast disease.
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