A. Ernest WhitonChief Financial OfficerZOLL Medical Corporation+1 (978) 421-9655
Diane EganZOLL Medical Corporation+1 (978) email@example.com
FOR IMMEDIATE RELEASE
FOR IMMEDIATE RELEASE
May 24, 2006—CHELMSFORD, MASS.—ZOLL Medical Corporation (NASDAQ: ZOLL), a manufacturer of resuscitation devices and related software solutions, today announced a five-year exclusive agreement with Nihon Kohden Corporation to market and sell the ZOLL AutoPulse® Non-invasive Cardiac Support Pump in Japan, to commence upon regulatory approval by the Japanese Ministry of Health, Labour and Welfare. With annual revenue of approximately $790 million, Nihon Kohden is one of the top 100 companies worldwide selling medical equipment, and one of the top 10 companies specializing in medical devices.
According to Richard A. Packer, President and Chief Executive Officer of ZOLL, “Nihon Kohden sees the AutoPulse as an innovative product that can help improve patient care. This exclusive agreement provides significant revenue opportunity for the AutoPulse in the world’s third-largest economy. We are confident that Nihon Kohden, with its 650-person direct sale force, can help drive adoption of the AutoPulse inJapan.”
Commenting on the market potential of the AutoPulse, Mr. Packer continued, “Healthcare organizations in Japan are accepting of the concept of mechanical CPR because other devices that automate the CPR process have been in Japan since 1988. Consequently, more organizations understand the benefit, and are more likely to have allocated capital for such products. Since we believe that the AutoPulse is a more effective method of automating CPR delivery, and that the medical community understands the benefits, we anticipate that Japan will adopt the AutoPulse, once it is approved.”
The Japanese market for medical devices, already the world’s second largest, continues to expand as Japan’s population ages faster than that of any other developed country. According to the U.S. Department of Commerce, U.S. companies sell $5 billion worth of U.S.-made medical devices and supplies annually in Japan’s medical device market, which has a total annual value of approximately $20 billion.
ZOLL Medical Corporation is committed to developing technologies that help advance the practice of resuscitation. With products for pacing, defibrillation, circulation, ventilation, and fluid resuscitation, ZOLL provides a comprehensive set of technologies that help clinicians, EMS professionals, and lay rescuers resuscitate sudden cardiac arrest or trauma victims. ZOLL also designs and markets software that automates the documentation and management of both clinical and non-clinical information.
ZOLL markets and sells its products in more than 140 countries. The Company has direct operations, distributor networks, and business partners throughout the U.S., Canada, Latin America, Europe, the Middle East, Asia, and Australia. For more information, visit www.zoll.com or call +1 978-421-9655.
Certain statements contained in this press release regarding matters that are not historical facts are “forward-looking” statements (as defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, ZOLL’s ability to compete; acceptance of the AutoPulse and other resuscitation products; changes in regulations affecting the healthcare industry; general economic conditions; and those other factors discussed in the section entitled “Risk Factors” in ZOLL’s Quarterly Report on Form 10-Q, which was filed with the SEC on May 12, 2006.
©2006 ZOLL Medical Corporation. All rights reserved. 269 Mill Road, Chelmsford, MA 01824-4105. AutoPulse and ZOLL are registered trademarks of ZOLL Medical Corporation. All product names are the property of their respective owners.