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Healthcare Enterprise Group announces agreement with Wahl Optoparts GmbH, a division of JENOPTIKS AG, for the development and manufacture of Optiscope, a rigid endoscope based on proprietary technology. Optiscope is one of HCEG’s key portfolio technologies. JENOPTIKS AG is a world leader in photonics technologies operating out of twenty countries with group sales of €3 billion.
Optiscope combines a revolutionary, patented optical design with innovative plastic manufacturing methods and components, to produce a disposable clinical product with no compromise to functionality. This gives Optiscope a significant clinical advantage by removing the risk of cross contamination normally associated with the re-use of expensive endoscopy equipment. Optiscope's products will have high quality optics and are planned to be marketed at an extremely attractive unit cost to hospitals, clinics and general practitioners. In addition to the elimination of cross contamination, the low price will enable bulk purchase, thereby streamlining procedures and reducing waiting times.
As part of this agreement, Wahl Optoparts has undertaken to perform a series of laboratory tests on Optiscope’s optic design and plans to introduce, together with Optiscope, additional elements of its own expertise that will enhance both the intellectual property and product functionality. It is thought that the partnership with Wahl Optoparts will accelerate time to market for the finished product by nearly a year. HCEG now anticipates that a commercial product will be available for FDA inspection by mid 2005.
Optiscope is uniquely competitive in the endoscope market. The cost of a comparable re-useable rigid endoscope is circa $3,000 per instrument. These are frequently damaged during use, resulting in costly repairs. They also require disinfection, decontamination, sterilisation and servicing following each operation and, with a life span of approximately 200 operations, the estimated cost per use is $40.
Gabriele Wahl-Multerer CEO, Wahl Optoparts GmbH, commented:
The relationship with Optiscope provides Wahl Optoparts with an exciting opportunity to develop our business in optical products and demonstrates our commitment, as an OEM supplier with a closed process chain, to the international medical market.
Wahl’s know-how and established procedures will ensure effective development and manufacture, for example, through giving us 100% traceability throughout the total production process. We are extremely excited to be associated with Optiscope.”
Stuart Bruck, Executive Chairman, Healthcare Enterprise Group, commented:
This relationship with Wahl represents a pivotal step for Optiscope and sets out the timetable to market. Wahl, as part of the mighty JENOPTIKS, should be viewed as major endorsement and confirms our original belief, that Optiscope has significant market potential.
Both Ebiox and Optiscope have received acclaim at the highest levels which will provide HCEG shareholders with confidence in management’s ability as we move to roll out our new product portfolio.”
10 November 2004
Enquiries:
Healthcare Enterprise Group PLC
Tel: 020 7351 7500
Stuart Bruck, Executive Chairman
College Hill
Tel: 020 7457 2020
Nicholas Nelson/ Corinna Dorward
Note to editors
An endoscope is a surgical optical instrument for the examination of internal tissues and organs in the body, and is an aid to surgical operations. According to research data compiled by HCEG, the worldwide market size for rigid endoscopes is approximately $165 million per annum and growing
Optiscope is a product of the portfolio of research products from SafaTec (UK) Limited, which was acquired by HCEG in November 2003.
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