I n t e l l i g e n t D e s i g n a n d D e v e l o p m e n t | |
| | PRESS RELEASE "Becton Dickinson Invests $3 Million in Lucent Medical Systems" Major medical device company recognizes strength of Lucent Medical’s technology Kirkland, WA - Lucent Medical Systems today announced that Becton Dickinson and Company (NYSE: BDX) has made an equity investment of $3 million for a 19.9 percent position in the Seattle-area medical device company. According to Christopher Somogyi, President and CEO of Lucent Medical, the investment from Becton Dickinson represents an important endorsement of the company and its technology. "We are very pleased that Becton Dickinson has shown confidence in our ability to create smarter, more cost-effective medical devices," Somogyi said. "With today’s continued cost and efficiency pressures on the health care system, health care providers are relying on professionals of varying skill levels to administer care outside of the traditional hospital setting. For these providers to experience the benefits of cost savings and improved care, they need access to devices and systems that have built-in intelligence. Our technology helps fulfill this need." Funding from an industry leader like Becton Dickinson, Somogyi said, "is a significant validation of our approach." He added that the investment will enable Lucent Medical to commercialize its proprietary system for the navigation and tracking of infusion therapy catheters and other devices. "Becton Dickinson’s high-volume manufacturing expertise and powerful international distribution network make them an excellent partner to carry our technology to infusion therapy customers around the world", he said. Dr. Robert Adrion, President of Becton Dickinson Worldwide Infusion Therapy, said that the association is a mutually beneficial one. "After conducting a thorough global search, we identified Lucent Medical Systems as the leader in the development of cost-effective device localization," Dr. Adrion said. "Teaming up with an innovator like Lucent Medical allows us to create valuable new solutions for our customers", he added. "Lucent Medical Systems is a skilled technology company with outstanding engineering capabilities." The Becton Dickinson investment completes a second round of funding for Lucent Medical, with investments totaling $5.5 million. Becton Dickinson joins investors JAFCO (formerly the Japan Associated Finance Corporation) and the Daiwa Business Investment Company, both of Tokyo, in the current round. Other major shareholders include the University of Washington, the Washington Research Foundation, and the Rathmann Family Foundation. Lucent Medical Systems is currently developing low-cost intelligent medical products based on proprietary localization technology. In addition to infusion therapy devices, the company is applying its technology to indwelling and surgical devices in a number of medical disciplines, including cardiac and vascular surgery, neurosurgery, anesthesia, gastroenterology, and general nursing. Each system pairs a specially tagged disposable with a low-cost, hand-held detector. Lucent Medical Systems (www.lucentmedical.com) was founded in 1994 to commercialize cost-saving medical inventions based on research initially conducted at the University of Washington.
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