CYPRESS, CA – (January 6, 2010) – 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 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.
Christie, is a global visual technologies company and is a wholly-owned subsidiary of Ushio, Inc., Japan, (JP:6925). Consistently setting the standards by being the first to market some of the world’s most advanced projectors and complete system displays, Christie is recognized as one of the most innovative visual technology companies in the world. From retail displays to Hollywood, mission critical command centers to classrooms and training simulators, Christie display solutions and projectors capture the attention of audiences around the world with dynamic and stunning images. For more information on Luminetx and VeinViewer, visit www.luminetx.com.
For more information contact:
Dorina Belu, Christie
Ashley Burton, Inferno
Mario Almonte, Herman & Almonte Public Relations
(212) 616-1190, ext. 267
Christie® is a registered trademark of Christie Digital Systems USA, Inc.
DLP® is a registered trademark of Texas Instruments, Inc.
Luminetx® and VeinViewer® are registered trademarks of Christie Medical Holdings, Inc.
¹Time Magazine, "The Most Amazing Inventions of 2004", November 29, 2004.