3M and Zargis Medical Corp., a spin-off from Siemens Corporate Research (NYSE:SI) and a majority-owned subsidiary of Speedus Corp. (NASDAQ:SPDE) today announced an exclusive multi-year marketing agreement involving Zargis’ heart sound analysis software and 3M Littmann’s next-generation electronic stethoscope.
Under the agreement, Zargis will support 3M in its efforts to develop a next-generation stethoscope that will be compatible with Zargis’ heart sound analysis software. The date on which Zargis’ software will become available for use with a Littmann stethoscope has not yet been announced.
“This agreement builds on the rich Littmann brand legacy of advancing the art of auscultation,” said Chuck Kummeth, Vice President and General Manager, 3M Medical Division. “We are committed to bringing innovative solutions to our customers, and this agreement with Zargis will help us do this well into the future.”
“We have been working closely with 3M for nearly two years to further evaluate this market and refine our product strategy,” stated Zargis CEO John Kallassy. “We believe that the use of our software could enhance the physician experience during every patient exam where a stethoscope is currently used. This alliance with 3M will allow us to seamlessly integrate our advanced sound analysis technology with 3M’s next-generation electronic stethoscopes and turn this vision into a reality on a global level.”
In addition, the alliance provides Zargis with a wide-range of marketing and promotional opportunities along with exclusive rights to sell its ground-breaking heart sound analysis software through the global distribution network of the Littmann brand. The agreement grants 3M a minority equity position in Zargis, following the first sale of Zargis’ software through the 3M distribution channel, and a seat on Zargis’ board of directors.
Tom Miller, member of Siemens Medical’s Executive Management Board, stated, “We are very encouraged by this agreement and the progress Zargis has made since it spun off from Siemens Corporate Research and we look forward to continuing our support and seeing their business mature.”
About 3M Health Care
3M Health Care, one of 3M’s six major business segments, provides world-class innovative products and services to help health care professionals improve the practice, delivery and outcome of patient care in medical, oral care, drug delivery and health information markets.
About 3M - A Global, Diversified Technology Company
Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company’s customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation. For more information, including the latest product and technology news, visit www.3M.com.
Littmann, Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.
About Zargis Medical Corp.
Zargis Medical Corp. develops advanced diagnostic decision support products and services for primary care physicians, pediatricians, cardiologists and other healthcare professionals. Zargis was formed in 2001 when Siemens Corporate Research, a division of Siemens AG (NYSE: SI), and Speedus Corp. co-invested to develop and market an advanced acoustic technology designed to detect heart abnormalities identified through analysis of heart sounds.
About Siemens
Siemens AG (NYSE:SI) is one of the largest global electronics and engineering companies with reported worldwide sales of $107.4 billion in 2006. Founded 160 years ago, the company is a leader in the areas of Medical, Power, Automation and Control, Transportation, Information and Communications, Lighting, Building Technologies, Water Technologies and Services and Home Appliances. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $21.4 billion and employs approximately 70,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens' worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 480,000 people in 190 countries. For more information on Siemens in the United States: www.usa.siemens.com.
For additional information about Zargis or Speedus Corp., contact Peter Hodge at 888.773.3669 (ext. 23) or phodge@zargis.com or visit the following Web sites: www.zargis.com and www.speedus.com.
Statements contained herein about Zargis that are not historical facts, including but not limited to statements about Zargis’ product, corporate identity and focus, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by Zargis, including, but not limited to, the continuing development of Zargis’ sales, marketing and support efforts.
ZargisPeter Hodge, 888-773-3669 Ext.23phodge@zargis.comor3MStephanie Sanderson, 651-733-8588http://www.3m.com/PressContact
