Press Room

Latest

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001


News - 2003

USCOM LAUNCHES GLOBAL MARKETING EFFORT

December 23rd, 2003

USCOM Limited, the Australian medical devices company, announced today the launch of its global marketing campaign, with the USCOM cardiac output monitor on show at three important international events in January.

Taking a profile at major conferences in Europe, the Middle East and Asia, USCOM is off to an aggressive start to 2004 as part of its worldwide marketing roll-out.

The company was cleared for its global launch on December 19, with the announcement of CE Certification, the regulatory approval required for sales in Europe and several other international markets.

USCOM Chief Executive, Gary Davey said today, “USCOM is committed to broadening the company‘s international focus in 2004. The three events we are targeting in January are exactly where our technology needs to be on display. The primary purpose of our December 2003 Australian Stock Exchange listing was to ensure adequate funding for a worldwide marketing effort. We are delighted this campaign is now underway.”

The three January conferences are:

Singapore, January 13-14: The Asia Pacific Congress of Cardiology. As part of the Asia Pacific Congress of Doppler Echocardiography, USCOM Chairman, Mr Rob Phillips will present two important scientific papers relating to clinical applications of the USCOM technology.

London, January 14-16: The Scientific Meeting of the GB & Ireland Association of Anaesthetics. USCOM Technical Manager, Mr Nick Schicht is representing the company as an exhibitor at this event in association with USCOM‘s UK distribution partner, Beaver Medical.

Dubai, January 18-21: Arab Health. USCOM is exhibiting at the biggest medical event in the Middle East. Last year, the Arab Health conference was attended by more than 19,000 delegates.

In addition, USCOM has secured a high profile position at further international events for early 2004, including the most important US critical care convention in Orlando Florida during February and the World Congress of Anaesthesiology in Paris during April.

REGULATORY APPROVAL OPENS DOOR TO EUROPEAN SALES FOR USCOM

December 19th, 2003

Australian medical devices company USCOM Limited has received approval to commence sales of the company’s heart monitor into the European market having today been notified that it had secured CE Certification.

The CE Mark, often referred to as the ‘Trade Passport to Europe’, is mandatory for all Class IIa medical devices sold into the European Union. The CE Mark will enable sales to commence throughout the company’s network of medical marketing and distribution partners, which spans eight key markets, comprising 60% of the population of Western Europe.

USCOM Limited has developed, patented and manufactured the USCOM Monitor, which is a safer and more cost-effective alternative to existing invasive and expensive procedures for measuring blood flow through the heart. The monitor has diverse applications ranging from emergency care and anaesthetics to cardiac assist devices. The Managing Director of USCOM Limited, Mr Gary Davey, said regulatory approval was the final milestone before sales into Europe could be commenced. We can now implement the first phase of our sales strategy, which also targets the Australian and a number of Asian markets where regulatory approvals have previously been obtained. USCOM Limited has an experienced network of marketing and distribution agents covering the UK, Eire, Germany, Italy, Switzerland, Austria, Spain and Portugal. “Europe is a primary target market for the USCOM monitor following successful clinical trials at a range of prestigious European and International clinical sites as well as extensive scientific validation,” he said.

Successful trials have been conducted at Hanover University Hospital in Germany, the Aalst Hospital in Belgium and at MECABIO, Marseilles, as well as 19 other sites. Reports on the monitor have been published in the European Heart Journal and several other key peer reviewed journals. This week, USCOM also released the findings of an important study, conducted at Hanover University Hospital, demonstrating the utility of the USCOM Cardiac Output Monitor in intensive care. The study, supervised by Dr Karsten Knobloch between August and September 2003, involved 26 consecutive patients comparing the non-invasive USCOM method with the invasive thermodilution catheter procedure.

Dr Knobloch’s tests were carried out in a cardiac surgery intensive care environment as well as in the operating theatre. The company has been advised by Dr Knobloch that the tests demonstrated a close correlation between the mean values of the two methods.

The conclusion of the study states: “Using the USCOM system it is possible to determine the beat-to-beat cardiac output in critically ill patients in the cardiac intensive care unit noninvasively with a high correlation to invasive determined cardiac output via a Swan-Ganz catheter…without the possible complications associated with invasive right heart catheterisation.

The results of this study will be published at a major international critical care conference in early 2004.

The recent success of USCOM’s initial public offering, which saw USCOM debut on the stock exchange with a market capitalisation of $91.2 million, will facilitate the commercialisation of the heart monitor.

USCOM CE Certificate (1901 kb)

USCOM RELEASES RESULTS FROM IMPORTANT GERMAN STUDY

December 16th, 2003

USCOM Ltd (ASX Code: UCM) today released the findings of an important study, conducted at Hanover University Hospital in Germany, demonstrating the utility of the USCOM Cardiac Output Monitor in intensive care.

The study, supervised by Dr Karsten Knobloch between August and September 2003, involved 26 consecutive patients comparing the non-invasive USCOM method with the invasive thermodilution catheter procedure.

Dr Knobloch‘s tests were carried out in a cardiac surgery intensive care environment as well as in the operating theatre. The company has been advised by Dr Knobloch that the tests demonstrated a close correlation between the mean values of the two methods.

The conclusion of the study states: “Using the USCOM system it is possible to determine the beat-to-beat cardiac output in critically ill patients in the cardiac intensive care unit non-invasively with a high correlation to invasive determined cardiac output via a Swan-Ganz catheter – without the possible complications associated with invasive right heart catheterisation.”

The results of this study will be published at a major international critical care conference in early 2004.

USCOM HONOURED AT CIVIC RECEPTION

December 11th, 2003

USCOM Limited was honoured at a Civic Reception hosted today by the Lord Mayor of Coffs Harbour, Councillor Jenny Bonfield.

The civic reception was held to recognise the recent presentation of a major award to USCOM at the Asian Innovation Awards, as well as the company‘s successful listing yesterday on the Australian Stock Exchange.

Caption: (Left to Right) Coffs Harbour Lord Mayor, Councillor Jenny Bonfield, USCOM chairman, Mr Rob Phillips, USCOM Chief Executive, Gary Davey, Coffs Harbour Town Crier, Mr John Kerr.

USCOM LIMITED MAKES STRONG DEBUT ON ASX

December 10th, 2003

Shares in Australian medical devices company USCOM Limited today made a healthy debut on The Australian Stock Exchange opening at $2.50 per share, a premium of 25% to the issue price. During the day USCOM shares traded as high as $2.55, closing at $2.40 with 1.2 million shares traded. At the close price of $2.40 per share USCOM has a market capitalisation of $91.2 million.

The Managing Director of USCOM Limited, Mr Gary Davey, said the listing marked the next phase in the company‘s development which would initially target the Australian, Asian and European markets.

“Investors have recognised that our marketing and manufacturing strategy is sound and now, as a listed company, we have the business framework in place to translate that strategy into commercial success.”

USCOM Limited has developed, patented and manufactured the USCOM Monitor, which is a safer and more cost-effective alternative to existing invasive and expensive procedures for measuring blood flow through the heart. The monitor has diverse applications ranging from emergency care and anaesthetics to cardiac assist devices.

Commenting on the listing, the Chairman of USCOM Limited, Mr Rob Phillips, said:

“The medical profession has been calling for a safe and non-invasive way of measuring cardiac output for many years. In response to that need we have developed a unique monitor that uses technology which has been applied in hospitals for the last twenty years.”

USCOM is targeting a worldwide market for cardiac output monitoring devices estimated to be worth up to $7 billion annually.

The offer was fully underwritten by broker Bell Potter Securities.

PATENT BREAKTHROUGH FOR USCOM

December 2nd, 2003

USCOM Pty Ltd, the Australian developer of medical devices, announced today important progress in securing United States patent protection for its Ultrasonic Cardiac Output Monitor technology.

The company has received a provisional indication of allowance of its US Patent from the US examiner, the culmination of more than 2 years work with the US Patent Office. The USCOM patent covers the use of ultrasound, transcutaneously (through the skin), for the purpose of monitoring cardiac flow. The US patent will apply for a period of 20 years.

USCOM’s technology has been patent protected worldwide since June 2002 under the Paris Convention “patent pending” provisions and is now undergoing Market Entry Phase procedures in multiple national markets around the world. Allowance of the Australian Patent was secured for the Australian market in mid 2002.

The Chief Executive of USCOM, Mr Gary Davey said: “The US patent approval is one of the most important milestones in the company’s history. The United States accounts for approximately 50% of sales in medical devices, worldwide. In order to take a global position for our product, it was essential that the US market be fully protected.”

USCOM’s patent portfolio, currently relating to 16 different applications, is managed by Mr Peter Treloar, through Baldwin Shelston & Waters in Sydney and by Merchant & Gould Minneapolis in the United States.

USCOM ON TRACK WITH SUCCESSFUL IPO

November 28th, 2003

Australian medical devices company USCOM Limited is on track to commercialise its heart monitor – initially targeting the Australian, Asian and European markets – following the successful closing today of its initial public offering.

The share offer closed over-subscribed following strong investor demand having raised $16 million through broker Bell Potter Securities by the issue of 8 million new shares at $2.00 per share. The company will have a market capitalisation of $76 million at the issue price.

The Managing Director of USCOM Limited, Mr Gary Davey, said that the IPO was a key milestone in the commercialisation of the company‘s heart monitor which will target a world-wide market in excess of $7 billion.

“Having just returned from the world‘s largest medical industry trade show in Germany I am more confident than ever that we have developed a unique product which fulfils a critical need of the medical profession.”

USCOM Limited has developed, patented and manufactured the USCOM Monitor, which is a safer and more cost-effective alternative to existing invasive and expensive procedures for measuring blood flow through the heart. The monitor has diverse applications ranging from emergency care and anaesthetics to cardiac assist devices.

“USCOM Limited has made solid progress to date. Regulatory approvals and patent protection have been secured while clinical trials at more than 17 clinical and laboratory sites worldwide are in progress and results so far have been positive. The company is now poised to commence a worldwide marketing sales and product support program.”

USCOM Limited‘s Chairman and the inventor of the monitor, Rob Phillips, said the company was delighted to welcome a large number of new shareholders to the company.

“Investors have responded positively to the opportunity to participate in the commercialisation phase of this exciting product, which has diverse applications across a range of medical applications.”

The offer opened on 13 November 2003. The offer was fully underwritten by Bell Potter Securities Limited. ASX listing is anticipated on 10 December 2003 under the ASX code: UCM.

New Appointment to USCOM Advisory Board

November 5th, 2003

USCOM Pty Ltd, the Australian medical devices company, today announced an important new appointment to the company‘s Medical and Technology Advisory Board.

The appointment of Professor Malcolm West , Head of the Department of Medicine at the University of Queensland and Professor of Cardiovascular Research at Prince Charles Hospital, brings to 7 the number of distinguished medical and technology luminaries, acting as Advisory Board members.

The Chairman of USCOM, Mr Rob Phillips has been working with Professor West for over 5-years, conducting research into a number of important developments of Echocardiography.

The Chief Executive of USCOM, Mr Gary Davey, said: “We are extremely proud to be associated with a scientist of such high international calibre. Professor West is recognized at the world level as an innovator in his field. We are delighted he will be assisting us in managing our medical and scientific programme.”

Commenting on the appointment, Professor West said : “It is a pleasure to be invited to join the Medical Advisory Board of USCOM, and I look forward to assisting in the development of the clinical usefulness of this device across a range of applications.”

USCOM‘s Medical and Technology Advisory Board includes expertise in medicine and science from Australia, the United States and Europe. Additional members are expected to be appointed later in the year.

The other six members of the USCOM Advisory Board are:

Mr Rob Phillips (Chairman)

Chairman of USCOM Rob Profile

Dr Fred Berry

Leading Anaesthetist Fred Profile

Professor Stephane Carlier

Cardiologist, Biomedical Engineer Stephane Profile

Professor Colin Sullivan

Chairman, ResMed Advisory Board Colin Profile

Dr Greg Clark

Vice Chair, Knowledge Universe Greg Profile

Professor C.P. Lau

Cardiologist, Electrophysiologist C.P. Lau

USCOM is committed to the development and marketing of unique, innovative and worthwhile solutions for worldwide health care markets. It is the company‘s intention to maintain the highest professional and ethical standards in all of its activities across science and business.

The role of the Advisory Board is to provide research guidance and augment the company‘s current research programmes in both the medical and technology fields. The Advisory Board will assist in the identification and development of new and promising medical technologies for the Company.

Professor Malcolm West

Professor Malcolm West Profile

USCOM WINS INTERNATIONAL AWARD FOR INNOVATION

October 28th, 2003

USCOM Limited has been presented a major international prize at the Asian Innovation Awards.

At a ceremony in Singapore last night, the Chairman of USCOM, Mr Rob Phillips was presented the inaugural Global Entrepolis Award by the Prime Minister of Singapore, Mr Goh Chok Tong. USCOM was selected from 142 companies nominated from throughout the Asia Pacific and granted the special Global Entrepolis Award as the entry that best applied technology to a strong business model.

The Asian Innovation Awards are hosted by the highly respected business magazine, The Far Eastern Economic Review and the Singapore Economic Development Board and judged by an independent panel of experts representing technology, business and the community.

Commenting on the award, Mr Phillips said: “We are extremely proud to have been recognised internationally for our work in developing the USCOM heart monitor. This award recognises the importance of combining good science with sound business practice, the two principles that have been the core focus of all the team at USCOM since the company‘s inception. It is a great honour to have been presented the award by Prime Minister Goh and to be showcased across Asia in the pages of the Far Eastern Economic Review”.

“Novel ideas to improve the quality of life.” This is what the REVIEW‘s Asian Innovation Awards, now in their sixth year, aim to recognize. But in the business world, dreamers need to be pragmatic: A strong business model is just as important as the philanthropic sentiment.

To reflect this, the REVIEW, in association with the Economic Development Board of Singapore, is this year introducing the Global Entrepolis @ Singapore Award. While the Asian Innovation Awards acknowledge the inspiration and effort behind life-improving inventions, the Global Entrepolis Award rewards the entry that best applies technology to a strong business model. This year, the judges received 142 nominations. Twelve were short-listed for Asian Innovation Awards and were judged according to three criteria: level of creativity, or degree of innovation; quality of execution, to measure the science, engineering and technology involved; and potential impact on society or quality of life.

The Prime Minister of Singapore, Mr Goh Chok Tong presents the inaugural Global Entrepolis Award to Mr Rob Phillips, Chairman of USCOM Limited.

For the Global Entrepolis Award, six finalists were judged on these criteria: exploitation of technology in their business or products; the potential to be a global leader or a market leader; exhibited growth for the last three years, for example, in operating profit, size, and market share; and demonstration of a commercially viable business model. USCOM Chairman Rob Phillips. The Prime Minister of Singapore, Mr Goh Chok Tong.

The judging panel for the Awards included: Anil Gupta, head of the Society for Research and Initiatives for Sustainable Technologies and Innovations, in India; John Chen, chief executive and president of United States-based solutions provider Sybase; Mechai Viravaidya, chairman of the Population and Community Development Association, in Bangkok; Tony Buss, president and chief executive of MerLion Pharmaceuticals, in Singapore; and Lim Kok Wing, president of the Malaysia Design Technology Centre, in Petaling Jaya. USCOM Chairman Rob Phillips. The Prime Minister of Singapore, Mr Goh Chok Tong.

Far Eastern Economic Review

Professor C.P. Lau Joins USCOM Advisory Board

October 24th, 2003

USCOM Pty Ltd, the Australian medical devices company, today announced the appointment of Professor Chu-Pak Lau to the company‘s Medical and Technology Advisory Board.

Professor Lau is a world authority in Cardiology and particularly Electrophysiology, including the management of patients with cardiac pacemakers and defibrillators.

Announcing the appointment today, the Chairman of USCOIM, Mr Rob Phillips said: “It is an important step for USCOM to have Professor Lau join our advisory board. He is a scientist of international standing who will add enormous strength to the range of skills and experience within our company. USCOM looks forward to working closely with Professor Lau to develop clinical applications in the increasingly important field of electrophysiology.”

Based in Hong Kong, Professor Lau will be working closely with USCOM‘s North Asia representative, Mr Jules Flach of Pacific Medical Systems, the company acting as USCOM‘s distribution gateway to Hong Kong, China, Macau, Korea and Japan.

Professor Lau joins 5 other medical and technology professionals on the company‘s advisory board, which was created in September 2002. The Advisory Board includes expertise in medicine and science from Australia, Asia, the United States and Europe. Additional members are expected to be appointed later in the year.

The company is proud to be associated with scientists of such high international calibre, bringing to the company a wide range of skills and experience in medicine and technology.

The five founder members of the Advisory Board are:

Mr Rob Phillips F.I.R., D.M.U.(Cardiology), A.M.S Chairman of USCOM Dr Fred Berry MBBS, FANZCA Leading Anaesthetist Professor Stephane Carlier MD, Ph.D. Cardiologist, Biomedical Engineer Professor Colin Sullivan MD PhD FRACP Chairman, ResMed Advisory Board Dr Greg Clark Ph.D Vice Chair, Knowledge Universe

Professor Chu-Pak Lau is the Academic Division Chief and Chair Professor of the Cardiology Division of the Department of Medicine at Hong Kong University and Queen Mary Hospital, Hong Kong.

Professor Lau is a member of the Board of the International Cardiac Pacing and Electrophysiology Society (ICPES) and is the author of numerous scientific papers published in the world‘s most prestigious cardiology publications.

In February 2003, Professor Lau was the Secretary General and Chairman of the Scientific Programme Committee of the 12 th World Congress on Cardiac Pacing and Electrophysiology.

Professor Lau has been conducting clinical trials with the USCOM Ultrasonic Cardiac Output Monitor as a tool to assist in the modulation of heart assist devices.

Professor Chu-Pak Lau

Professor Chu -Pak Lau Resume

USCOM PROVEN IN PRECISION LAB TEST

October 22nd, 2003

USCOM Limited announced today the results of an independent laboratory study, which proves the accuracy of flow measurement by the USCOM 1A Ultrasonic Cardiac Output Monitor.

The USCOM device was validated in a computer controlled haemodynamic simulator, at the MECABIO Biomechanics Institute at Marseilles, France.

Under precision flow probe testing, the USCOM device exactly agreed with measured flow velocities up to 1.6 metres per second, the accurate range of the simulator. Even beyond 1.6 metres per second, which is well above the normal adult range at rest, the USCOM machine showed a variation against the precision simulator of just 5%.

Other indicative measures for negative flow showed similar accuracy.

Announcing the results today, the Chief Executive of USCOM, Mr Gary Davey said: “This is an important result for USCOM. MECABIO is one of the most respected biomechanical research establishments in Europe and applies the most stringent technical and scientific standards in its precision bench testing. The MECABIO study eliminates any doubt about how accurately our device can measure the velocity of blood flow, the most important variable in the measurement of cardiac output.”

Comparison of Flow probe and USCOM measures in an haemodynamic simulator, demonstrating no difference in values from -1 to 1.6 metres per second.

MECABIO STUDY REPORT

USCOM becomes Public Company

October 16th, 2003

USCOM announced today that it had completed conversion from a Proprietary Limited company to a Limited company.

USCOM APPOINTS US AGENT FOR FDA FILING

October 15th, 2003

USCOM Ltd, the Australia medical devices company, today announced the appointment of Vantage Consulting International Ltd as the company’s US Agent for the purpose of filings with the FDA (Food and Drugs Administration).

USCOM will be filing an application under the FDA’s 510K Pre Market Notification guidelines, the necessary regulatory approval for the sale of USCOM’s Ultrasonic Cardiac Output Monitor in the United States. The USCOM machine is already approved for sale in Australia, with a TGA (Therapeutic Goods Administration) listing and is in the final stages of securing a CE-Mark for Europe.

Vantage Consulting International is a highly experienced consulting firm, specialising in medical device and pharmaceutical regulatory compliance and quality system implementation. The company has assisted numerous companies, including Australia’s Portland Orthopaedics in the preparation and filing of regulatory documentation with the FDA.

Announcing the appointment today, the Chief Executive of USCOM, Mr Gary Davey said: “Regulatory compliance is a critical part of the development of our company. In the US, we must maintain the highest standards in our FDA documentation and procedures. Vantage will play an important role in guiding us through this important process and assisting with other regulatory issues.”

VANTAGE WEBSITE

KEY USCOM STUDY PUBLISHED

October 11th, 2003

The Chairman of USCOM, Mr Rob Phillips, today presented an important case study demonstrating the accuracy of the USCOM method compared to the gold standard method of cardiac output measurement.

The faculty presentation, titled: “Incremental Doppler stress echocardiographic evaluation of cardiovascular reserve in heart failure: A case comparison of 2D independent CW Doppler and thermodilution” was made to the World Congress of Echocardiography and International Society of Cardiavascular Ultrasound in Buenos Aires, Argentina.

The case study, conducted at the Cardiac Transplantation Department of Royal Perth Hospital demonstrates that USCOM correlates well against the gold standard PAC thermodilution method in a difficult clinical environment. Repeated side-by-side measurements in a difficult clinical subject at Royal Perth Hospital have demonstrated accurate agreement between USCOM and the PAC method, with a variation of just 2.6%.

The abstract arising from this pilot study was co-authored by Mr Rob Phillips and:

Prof Gerry O’Driscoll, Head of Heart Failure and Cardiac Transplantation, Royal Perth Hospital.

Dr Danny Green of the Department of Cardiovascular Research, Royal Perth Hospital.

Dr Jeremy Wright, Cardiology Registrar, Royal Perth Hospital.

Louise Naylor, Ultrasound Researcher, Royal Perth Hospital.

Prof Malcolm West, Head of the Dept of Medicine, University of Queensland.

Assoc Prof Darryl Burstow, Head of the Dept of Echocardiography, Prince Charles Hospital

Commenting on the study today, Mr Phillips said: “This case study illustrates that USCOM has a significant role to play in the new and important clinical field of Stress Doppler.”

Comparison of SG vs USCOM measures of CO at rest and during incremental exercise in a single subject. The mean difference between measures was 0.09±0.58l/min.

Royal Perth Hospital Abstract

USCOM Anaesthetics study published at National Congress

October 6th, 2003

An independent pilot study demonstrating the utility of the USCOM cardiac output monitoring method has been published at a national Anaesthetics conference in Melbourne.

The study was conducted at the Anaesthetics department at Royal Perth Hospital. The abstract titled: “The effect of cardiac output, as assessed by transcutaneous Doppler measurement, on the induction dose of propofol required for anaesthesia – a pilot study” was co-authored by Veltman MG, Pulletz M, Ward M and Re F. and presented at the Australian Society of Anaesthetics conference.

The abstract states in part: “Cardiac output can be measured non invasively using a novel device from USCOM. It uses ultrasound to calculate cardiac output based on pulmonary arterial flow, using a validated Doppler technique.”

Commenting on the presentation today, the Chairman of USCOM, Mr Rob Phillips said: “This is an important result for USCOM because it demonstrates the clinical usefulness of the USCOM method in the management of drug dosage. This will be one of the most useful functions of USCOM and we look forward to collaborating in further studies with the Anaesthetics team at Royal Perth.”

Australian Society of Anaesthetics Abstract

USCOM opens north asia gateway with Pacific Medical Systems

September 25th, 2003

USCOM Pty Ltd, the developer of the USCOM Ultrasonic Cardiac Output Monitor today announced the conclusion of an arrangement for Pacific Medical Systems Limited to be the logistics hub that coordinates the marketing, sales and distribution of USCOM products across North Asia.

Pacific Medical Systems will take full charge of and responsibility to act as and appoint sales and distribution agents for USCOM in China, Japan, Taiwan, Korea, Hong Kong and Macau.

Based in Hong Kong, Pacific Medical Systems is under the leadership of Mr. Jules Flach, until earlier this year a senior executive in Asia for General Electric Medical Systems.

Announcing the expansion today, the Chief Executive of USCOM, Mr. Gary Davey said: “The North Asian markets, especially China and Japan are vitally important parts of the USCOM global business model. And we are delighted to have an executive of Mr. Flach’s skill and experience representing us there. We are enormously impressed by the strategic focus and quality of the business and marketing team which Mr. Flach has put in place for Pacific Medical Systems.”

Mr. Flach said: “I am extremely excited with the opportunities presented by the USCOM product and am confident of the prospects and vast potential of this cutting-edge technology in the Asian markets.” Pacific Medical Systems will showcase USCOM at the Combined Scientific Meeting in Anaesthesiology 2003, being held in Hong Kong from September 26 to 28.

Pacific Medical Systems website

USCOM to present at World Congress

September 23rd, 2003

The Chairman of USCOM Pty Ltd, Mr Rob Phillips is to present an important scientific paper, validating the USCOM technology at the 7th World Congress of Echocardiography and Vascular Ultrasound.

The World Congress is to be held in Buenos Aires, Argentina from October 10 to 12. Rob Phillips is the only Australian among the international invited speakers to the conference.

Mr Phillips will be presenting results of a pilot study at Royal Perth Hospital, comparing USCOM measurements against those of the Swan-Ganz thermodilution catheter method. The paper, entitled “Incremental Doppler stress echocardiographic evaluation of cardiovascular reserve in heart failure: A case comparison of 2D independent CW Doppler and thermodilution” was co-authored by R.A.Phillips, M.J.West, D.J.Burstow, J.Wright, L.H.Naylor, D.J.Green, J.G.O’Driscoll (The University of Queensland, Brisbane, Australia, Royal Perth Hospital and the University of Western Australia, Perth, Australia).

WORLD CONGRESS WEB SITE

USCOM cited in Parliament as cutting edge medical device

September 16th, 2003

The NSW Treasurer and Minister for State Development, Mr Michael Egan, announced in Parliament today that USCOM Pty Ltd would participate in an Australian exhibit at Medica 2003, the world’s largest international medical supplies and devices trade show.

Medica 2003, to be held in Dusseldorf, Germany from November 19 to 22, is expected to attract more than 130,000 visitors.

In the NSW Legislative Council, Mr Egan said USCOM would be one of 13 New South Wales companies participating in an Australian business stand at Medica. Mr Egan said: “New South Wales has a strong reputation as a leading center of medical device development.” He added, “The mission will further enhance this reputation with a new breed of cutting edge medical devices being showcased. The companies participating include USCOM Pty Ltd, a Coffs Harbour-based company that has developed an innovative medical device. It is the first truly non-invasive, accurate and hands-free monitor of cardiac output. I am told it is backed by novel and inventive patents. The innovative USCOM system is now being exported.”

USCOM SIGNS 4 PARTNERS FOR EUROPE

August 22nd, 2003

USCOM Pty Ltd, the Australian developer of the USCOM Ultrasonic Cardiac Output Monitor, today announced the appointment of marketing and distribution partners covering eight of the most important markets and more than 60% of the population of Western Europe.

The company’s 4 new distribution partners are now actively promoting USCOM in the UK, Eire, Spain, Portugal, Italy, Germany, Switzerland and Austria.

Announcing the appointments today, the Chief Executive of USCOM, Mr Gary Davey said: “For the next 2 years, Europe promises to be the most important region in USCOM’s global marketing roll-out. We are proud to be working with 4 of Europe’s most experienced operators in medical devices.”

The first of USCOM‘s Cardiac Monitors will be available for commercial supply in Australia in late 2002, with a primary focus on clinical application, including operating theatres and emergency care wards. The machine provides a hands-free and completely non-invasive method of accurately measuring real-time output of the cardiac valves.

Each of the European partners has been supplied with USCOM machines for the purpose of demonstrating the company’s technology at key sites in their respective markets. The official launch of the product will occur during October upon the receipt of the CE Mark European regulatory approval.

UK & EIRE:

USCOM has signed a 3-year exclusive distribution agreement with Beaver Medical plc, a Northampton based distributor of emergency care and cardiology products since 1992, for the UK and Eire markets. Beaver Medical is a highly experienced marketer of ultrasound and other products, representing a wide range of international companies, including Cardio Control, Hewlett Packard, Colin, Quinton, Agilent, Medgraphics & Phillips.

www.beavermedical.com

GERMANY, AUSTRIA & SWITZERLAND:

With a population of 82 million and 24,000 ICU beds, Germany represents an important market opportunity for USCOM. At an annual spend rate of €190 Billion the German medical business is huge, with almost 11% of GDP spent on health. For Germany, Austria and Switzerland USCOM has appointed LEA Medizintechnik a Giessen based developer and marketer of a sophisticated oxygen metabolism device. USCOM and LEA have signed a 3-year exclusive distribution agreement for the three markets.

www.lea.de

ITALY:

With a population of 58 million, Italy also represents a valuable market for USCOM. In Italy, USCOM has appointed TEMA, a division of the Viglia Group, with a highly experienced sales and marketing organization focused on the cardiology and Intensive Care sectors.

www.viglia.it

SPAIN & PORTUGAL:

USCOM has appointed DISSA, a division of Grupo Taper S.A., for the Spanish and Portrugese markets. DISSA specialises in the sales and distribution of electromedical systems and has managed Hewlett Packard, Agilent and Phillips products since 1975.

www.dissa.es

New Appointment to USCOM Advisory Board

August 11th, 2003

USCOM Pty Ltd, the Australian medical devices company, today announced an important new appointment to the company‘s Medical and Technology Advisory Board.

The appointment of Professor Malcolm West , Head of the Department of Medicine at the University of Queensland and Professor of Cardiovascular Research at Prince Charles Hospital , brings to 7 the number of distinguished medical and technology luminaries, acting as Advisory Board members.

The Chairman of USCOM, Mr Rob Phillips has been working with Professor West for over 5-years, conducting research into a number of important developments of Echocardiography.

The Chief Executive of USCOM, Mr Gary Davey, said: “We are extremely proud to be associated with a scientist of such high international calibre. Professor West is recognized at the world level as an innovator in his field. We are delighted he will be assisting us in managing our medical and scientific programme.”

Commenting on the appointment, Professor West said : “It is a pleasure to be invited to join the Medical Advisory Board of USCOM, and I look forward to assisting in the development of the clinical usefulness of this device across a range of applications.”

USCOM‘s Medical and Technology Advisory Board includes expertise in medicine and science from Australia , the United States and Europe . Additional members are expected to be appointed later in the year.

The other six members of the USCOM Advisory Board are:

Mr Rob Phillips (Chairman)

Chairman of USCOM

Rob Profile

Dr Fred Berry

Leading Anaesthetist

Fred Profile

Professor Stephane Carlier

Cardiologist, Biomedical Engineer

Stephane Profile

Professor Colin Sullivan

Chairman, ResMed Advisory Board

Colin Profile

Dr Greg Clark

Vice Chair, Knowledge Universe

Greg Profile

Professor C.P. Lau

Cardiologist, Electrophysiologist

C.P. Lau

USCOM is committed to the development and marketing of unique, innovative and worthwhile solutions for worldwide health care markets. It is the company‘s intention to maintain the highest professional and ethical standards in all of its activities across science and business.

The role of the Advisory Board is to provide research guidance and augment the company‘s current research programmes in both the medical and technology fields. The Advisory Board will assist in the identification and development of new and promising medical technologies for the Company.

The Prime Minister of Singapore, Mr Goh Chok Tong presents the inaugural Global Entrepolis Award to Mr Rob Phillips, Chairman of USCOM Limited.

USCOM WINS DESIGN MARK AND POWERHOUSE DESIGN AWARD

June 11th, 2003

USCOM Pty Ltd, the Australian innovator in medical devices today announced it had been awarded a prestigious Design Mark in the 2003 Australian Design Awards.

The company’s USCOM 1A Ultrasonic Cardiac Output Monitor has also been selected as one of 14 outstanding products to be presented with a Powerhouse Museum Selection Award. The USCOM device will be on show in a special exhibition starting in July in the Powerhouse Museum’s Success and Innovation gallery.

The Chief Executive of USCOM, Mr Gary Davey said: “We are honoured to receive these two prestigious awards and to be recognized for excellence in design. It is a real tribute to our engineering team and our industrial design partners, Tiller&Tiller that we have achieved such high levels of innovation in the concept and quality in executiion of the design.”

Each year the Australian Design Awards, a division of Standards Australia, conducts an awards program to recognise and encourage excellence in Australian product design. Entries are received in six categories: industrial design, engineering design, software & electronics, textiles, furniture, and student design.

As the custodian of Australian design and innovation, the Powerhouse Museum has selected a number of finalists from the Australian Design Awards that have specifically demonstrated excellence in design; innovation; sustainability; and competitive advantage. The Museum has had a long association with the Australian Design Awards and has been recognising cutting-edge designers since 1992.

“This year’s expanded selection, which is the largest to-date, is a testament to the increasing number of exceptional products developed by Australian designers and manufacturers for world markets,” said Director of the Powerhouse Museum, Dr Kevin Fewster.

“The Museum congratulates all 14 winners for their achievements as product designers and manufacturers in bringing the best of Australian ingenuity to users here and overseas. We are proud to be associated with the Australian Design Awards as a driving force in the design industry”. Most of this year’s selected products incorporate a first application of new technology that provides market leading opportunities for Australian clients.

The 14 award winning products will be displayed from 28 June in the Museum’s 2003 Australian Design Awards exhibition within the Success and Innovation gallery, which illustrates how product designers convert ideas into reality and also showcases significant Australian innovations from the past.

Powerhouse Museum announcement

Australian Design Awards

USCOM PASSES TECHNOLOGY TEST

June 6th, 2003

USCOM Pty Ltd announced today that its USCOM 1A Cardiac Output Monitor had successfully completed testing for Electro Magnetic Compatability (EMC) compliance. Testing was done to EN60601-1-2:2002 and carried out by EMC Technologies, a NATA (National Association of Testing Authorities) recognized testing authority.

Compliance with this standard is required for sale of the device in Australia and is a major step in gaining the CE mark, a requirement for European market entry.

This gives USCOM the authority to apply the C tick to the product. USCOM Head of Operations, Paul Butler, said “This is an important step for the product. This validation of the engineering design is essential for us to gain access to many large markets, including Europe.”

Design engineering consultants, Considered Solutions, are commended on their work in ensuring the USCOM device complied with the relevant standards.

The device has been tested and complies with EN60601-1-2:2002 which encompasses the following standards.

Conducted Emissions EN 55011 Group 1 Class A Radiated Emissions EN 55011 Group 1 Class A Radiated Immunity EN 61000-4-3 80-2500MHz Electrical Fast Transients EN 61000-4-4 Surges EN 61000-4-5 Conducted RF EN 61000-4-6 Power Freq. Magnetic Field EN 61000-4-8 Voltage Dips and interruptions EN 61000-4-11 Harmonics EN 61000-3-2 Flicker EN 61000-3-3

USCOM COMMITTED TO QUALITY DOCUMENTATION

May 28th, 2003

USCOM Pty Ltd, the Australian developer of non-invasive medical devices, today announced the appointment of leading documentation company Hci for the production of its important user manuals.

“The USCOM Cardiac Output Monitor is an accurate, safe and completely non-invasive method of measuring the flow of blood from the heart,” said USCOM CEO Gary Davey, “Like many medical instruments it is computer-based. Writing instructions on how to use the Monitor required an expert in computer manuals, so we worked with HCi to write the documentation, and we are very happy with the results.”

HCi planned and designed the documentation using a technique specified in IS15910, an ISO international documentation standard originally developed in Australia by a team including HCi senior staff. The documentation will be delivered both as a paper manual, and also online through the Monitor device itself.

HCi Managing Director Phil Cohen said that the documentation planning technique (called “audience and task analysis”) was now almost universally used. “Documentation for the USCOM device is critical, of course, because it is a medical instrument. Clarity is very important in that context, and we feel that we have achieved that. But clarity is not enough – before you can successfully write a piece of technical documentation, you have to know who is going to be reading it, and in what context, and audience and task analysis allowed us to determine that,” he said.

“The work that we do puts us into daily contact with companies who are developing new ideas,” said Cohen, “and that is very exciting. We were particularly proud to be involved with the USCOM device, which is obviously of major importance in its field.”

UNITED STATES PATENT OFFICE PUBLISHES USCOM PATENT

May 27th, 2003

The United States Patent Office this week granted the first of a series of patents owned by Australian medical devices developer, USCOM Pty Ltd.

The USCOM patent covers the use of ultrasound, transcutaneously (through the skin), for the purpose of monitoring cardiac flow. The US patent will apply for a period of 20 years. USCOM’s technology has been patent protected worldwide since June 2002 under the Paris Convention and Patent Cooperation Treaty “patent pending” provisions and is now undergoing Market Entry Phase procedures in multiple national markets around the world. Allowance of the Australian Patent was secured for the Australian market in mid 2002.

The Chief Executive of USCOM, Mr Gary Davey said: “The US patent approval is one of the most important milestones in the company’s history. The United States accounts for approximately 50% of sales in medical devices, worldwide. In order to take a global position for our product, it was essential that the US market be fully protected.” USCOM’s patent portfolio, currently relating to 16 different applications, is managed by Mr Peter Treloar, through Baldwin Shelston & Waters in Sydney and by Merchant & Gould Minneapolis in the United States.

SCIENCE MINISTER LAUNCHES USCOM EXPORTS DRIVE

May 21st, 2003

USCOM Pty Ltd, an Australian medical devices company, announced today it had begun shipment of the first export orders for its Australian-made heart monitoring device.

Founded in 1998, USCOM has developed and manufactured a safe and non-invasive machine, which can accurately measure the flow of blood through the heart, offering a major advancement on the costly and sometimes invasive methods currently used.

The USCOM machine was invented, developed and manufactured entirely in Australia.

At a ceremony at Sydney Hospital today marking the launch of USCOM’s export programme, the New South Wales Minister of Science and Medical Research, Mr Frank Sartor said: “This is exactly the sort of outcome we’re looking for, local ingenuity that with a boost from the Government can be catapulted onto the world stage. It’s taken only five years for this idea, born in Coffs Harbour, to become an export reality that stands to reap massive rewards for the NSW economy.”

The Chairman of the company, and inventor of the USCOM technology, Mr Rob Phillips said: ”This is an exciting day for the company. We are extremely proud of having taken the project from concept through to completion. We genuinely believe USCOM can make a valuable contribution to medical practice. USCOM offers a cost-effective solution in an important area of health care and may open up many new fields of medical research. It has been a great team effort to get to this stage and we look forward to many new challenges and opportunities in the development of the USCOM technology.”

The USCOM success is a model for how Government and private equity can work together to support and promote Australian innovation. The company has been the recipient of significant Government support, including Federal and NSW Government grants. Most recently, the company received a $100,000 NSW Proof Of Concept Grant, under the Government’s Bio First programme, one year ago.

Announcing the grant to State Parliament in April 2002, NSW Premier, Mr Bob Carr said, “USCOM has an idea that stands to change the way doctors across the world treat their patients.” The company has worked with the NSW Department of State and Regional Development in attending the international Bio 2002 conference in Toronto as well as a DSRD and Austrade sponsored trade mission to India in late 2002.

The company is shipping its first export unit to the Middle East. Sales and marketing activities have been simultaneously launched in Europe, Asia and Australia. USCOM has installed machines in 7 of Australia’s most influential research hospitals in Brisbane, Sydney, Melbourne and Perth, with studies being conducted across a wide range of specialist medical disciplines, including paediatrics, anaesthetics, intensive care and cardiology.

Science Minister Frank Sartor with USCOM Chairman, Rob Phillips at Sydney Hospital announcing the USCOM export.

This is in addition to international research collaborations being conducted at Greenlane Hospital, Auckland and the Thorax Centre, one of Europe’s most highly respect cardiac research centers. The Chief Executive of USCOM, Mr Gary Davey said: “USCOM is an innovation success story. It has been a courageous effort to build this device and the keep it an Australian project. But thanks to a lot of extremely talented people and genuine support from Government agencies, we have driven the project to the point of now shipping our first export orders. This represents an important milestone for both our company and the Australian bio-technology sector as a whole.”

 

USCOM Chairman Rob Phillips

Science Minister Sartor’s press statement

USCOM STUDIES BEGIN ACROSS AUSTRALIA

May 12th, 2003

USCOM Pty Ltd announced today it had initiated collaborative clinical studies at 7 of Australia’s most influential hospitals.

The innovative USCOM Cardiac Output Monitor is an accurate, safe and completely non-invasive method of measuring the flow of blood from the heart.

The USCOM device, invented and developed entirely in Australia, is now being manufactured in Sydney for shipment to hospitals and other medical sites across Australia and overseas.

The machine has been installed at key Australian research sites in Sydney, Melbourne, Brisbane and Perth, covering a variety of specialist medical disciplines, including paediatrics, anaesthetics, cardiology and intensive care.

The following are the initial Australian study sites:

Prince Charles Hospital, Brisbane St Vincent’s Hospital, Sydney Royal Prince Alfred Hospital, Sydney St Vincent’s Hospital, Melbourne Royal Children’s Hospital, Melbourne Royal Perth Hospital, Perth Sir Charles Gairdner Hospital, Perth

Announcing the national research effort today, the Chairman of USCOM, Mr Rob Phillips said, “Today’s announcement represents a vitally important step in the development of the USCOM science. Although we are extremely happy with the creation of our device, we stand to learn a great deal from these influential clinical sites for the future development of our system. We are excited about our technology and look forward to working with our research partners across a broad range of clinical applications.”

The studies announced today are in addition to international research collaborations being conducted at Greenlane Hospital, Auckland and the Thorax Centre, one of Europe’s most highly respect cardiac research centers.

USCOM in childrens’ heart collaboration

April 11th, 2003

USCOM Pty Ltd today announced an important collaboration with researchers at Green Lane Hospital, New Zealand, an internationally recognized centre of excellence in paediatric cardiology.

USCOM has joined forces with a research team, led by Jonathan Skinner, a recognized pioneer in the field of Echocardiography for new-born babies.

The objective of the research effort is to optimize the clinical applications of the USCOM cardiac output monitoring system for children and babies.

Jon Skinner has been widely published on the subject, including his editing of the 250-page work “Echocardiography for the Neonatologist”. He also co-authored a ground-breaking study on monitoring at Bristol Children’s Hospital in the UK. The paper “Development of a System to Record Cardiac Output Continuously in the Newborn” published in 1999, was the result of the first major study of the principles and techniques advocated by USCOM.

The Chairman of USCOM, Mr Rob Phillips said: “We are proud to be working with Jon and his team at Green Lane. They clearly understand the issues at the core of the USCOM technology and are perfectly placed to help us create the optimum solution for kids. We are all passionately committed to this important area of USCOM’s future role in medicine.”

Green Lane Hospital has made a significant contribution to the science of cardiology and has an international reputation for medical research and pioneering new surgical procedures, particularly for babies with heart problems. Green Lane is New Zealand’s premier centre for cardiac surgery, cardiology, respiratory medicine, and otolaryngology. It is the national referral centre for paediatric cardiac surgery and heart and lung transplants.

USCOM ON SHOW AT WORLD HEART PACING CONGRESS

February 19th, 2003

USCOM, the developer of the first non-invasive and accurate monitor of cardiac output, joined many of the world’s leading innovators and researchers in heart disease at an important international conference in Hong Kong.

The company is an exhibitor at the 12th World Congress on Cardiac Pacing and Electrophysiology, being held at the Hong Kong Convention and Exhibition Centre from February 19 to 22.

The World Congress, being attended by approximately 4,000 delegates has a particular focus on the state of the art in heart pace makers and other cardiac assist devices.

USCOM is being represented at the conference by company chairman, Mr Rob Phillips, who said: “We believe USCOM has a valuable role to play in the future development of cardiac assist devices. Our non-invasive methods of accurately measuring and monitoring cardiac output are extremely important in optimizing the functions of these life-saving devices. The World Congress is a unique opportunity for USCOM to make contact with the key players in this exciting field.”