Longport, Inc. Announces Sales Activity from the First Quarter of 2008 and the Publication of an Aesthetics Paper
Thursday May 1, 2:00 pm ET
GLEN MILLS, Pa.--(BUSINESS WIRE)--Longport, Inc. (OTC PK:LPTI), a medical technology specialist in high frequency high resolution ultrasound imaging, today announced details on orders received during the first quarter of 2008.
During the first quarter Longport received orders for 23 EPISCAN systems. All of the units have been sold into wound prevention/assessment. Of these sales, 13 systems were to one customer, a long-term care group with whom we have been conducting studies into the use of the EPISCAN to detect early stage pressure ulcers for the last two years. The EPISCAN will be used as part of the facilities’ admission process and to enhance their regular ongoing skin assessment protocols.
Another two systems were sold to acute hospitals as a result of CMS announced reimbursement changes (see Longport’s announcement of September 20, 2007). One system was sold to a hospital rehabilitation facility, and two were sold to a wound care service group. The remaining five systems were sold to a series of long-term care facilities. Of these 23 systems, eleven were delivered during the first quarter.
David Hunt, Administrator of one of these long-term care facilities, the Tsali Care Center, Cherokee, NC commented, “We are excited about our EPISCAN that we anticipate will help us in many ways. The staff is excited about the opportunity to work with the technology, which we know will help us save money, but the most important reason for the purchase is resident care. We are confident that the EPISCAN will help us to prevent wounds, and you cannot put a price on that.”
Paul Wilson, President of Longport, Inc. said, “Longport is pleased with the sales activity in the wound market in the first quarter of the year and the encouraging level of additional sales inquiries received during the period. The Company is looking to use this positive start to the year as a basis to substantially grow sales volume during the rest of 2008.”
Longport also announced today that a paper has been published on the use of high frequency ultrasound in the assessment of injectable dermal fillers. Dermal fillers are used to help reverse the changes associated with aging and are forecast to give rise to $1 billion of sales in 2010. They are used to reduce wrinkles, raise scar depressions, enhance lips, and replace soft-tissue volume loss. This paper was printed in Skin Research and Technology 2008, Vol 14: 1-4, and discusses the efficacy of high frequency diagnostic ultrasound in the assessment of dermal filler longevity using Longport’s EPISCAN. The results of this pilot study revealed that high frequency ultrasound scanning provides a non-invasive, convenient, and rapid technique for the assessment of filler performance. Further information on this paper and other recent events can be seen in the News section of Longport’s website at www.longportinc.com.
Paul Wilson commented that “This paper illustrates the wide range of applications for Longport’s technology. The Company believes there is significant market opportunity for the EPISCAN in aesthetics and the Company will be using this and other data to promote the EPISCAN into this market sector during 2008.”
About Longport, Inc.
Longport, Inc. of Glen Mills, Pennsylvania, is a medical technology company that specializes in high resolution ultrasound imaging. After several years and a multi-million dollar investment in the technology, Longport has secured patents, copyrights, and FDA permission to market. The Company’s technology has been used to engineer a unique high resolution ultrasound imaging system. For further information please contact Longport, Inc. at 1-800-289-6863 or visit our website at www.longportinc.com.
Forward-looking Information and the Private Securities Litigation Reform Act of 1995
Certain statements in this press release, including statements concerning product development milestones and anticipated events, are “forward-looking statements” within the Private Litigation Reform Act of 1995. Forward Looking Statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. The words “believe,” “expect,” “intend,” “anticipate,” variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect Longport’s actual results include, among others, uncertainties as to the Company’s ability to manage potential problems, delays or anticipated expenses, including problems, delays or expenses involving manufacturing. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only to the date of this release. Reference is made to Longport’s 2004 annual report on Form 10-K filed with the Securities and Exchange Commission for a more definitive description of such factors. Longport, Inc. undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
Contact:
Longport, Inc.
Paul D. Wilson, President
800-289-6863
Source: Longport, Inc.
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