SOURCE: In Veritas Medical Diagnostics Inc.

October 11, 2006 02:30 ET

IVMD, Inc. Announces New Focused Strategy

INVERNESS, SCOTLAND -- (MARKET WIRE) -- October 11, 2006 -- Following the recent announcement of a new management team, IVMD, Inc. (OTCBB: IVME) (FRANKFURT: I7VF) is pleased to unveil a new strategy following a complete business review by the team.

For the past two years IVMD has focused its development and commercial activity on a single, important contract. This contract was completed in July and the resultant product has recently been launched into the market by IVMD's commercial partner, Inverness Medical Innovations (IMA). This represents a key milestone for IVMD as it now moves out of its development stage into becoming a commercialized business. IVMD will share in the resulting revenues and may be involved in future projects with IMI.

Commenting on the new strategy, Professor Patricia Connolly, Director of Science and Operations, stated, "Our strategy is now solidly focused on three principle product areas:

1. That focus on our proven capability  around pregnancy and labour;
2. That detect diseases using our proven concepts of magnetic markers
   in immunoassay technology;
3. That detect and enable intervention in medical conditions using our
   skin blood flow measurement technology.

"We will continue to support medium-term development on two other platforms where we have developed technology, portable tissue scanning and non-invasive glucose monitoring."

IVMD has significant core technology which is embodied in its thirteen patent applications, and the extensive know-how in its multidisciplinary science and development team. This core technology has many potential commercial applications in the field of point-of-care medical diagnostic products.

Under its new strategy IVMD will focus on innovative point-of-care products in the three areas referred to above. The new strategy emphasizes the development and commercialization of a limited number of products which are transformational both for the patient and in the cost of treatment; and which address major global markets. IVMD will work in partnership with major medical distribution companies as primary routes to market.

IVMD will focus on creating products which are materially differentiated in one or more areas: low cost, portability, ease of patient use, home or clinical application, reliability and energy efficient.

Graham Cooper commented, "This new strategy is highly focused on building value by exploiting our existing core technologies and know-how, and building upon that strong foundation. We aim to create important, transformational products, several of which are squarely on our agenda, several in an advanced state. We aim to launch at least one or two major new product initiatives every year."

About IVMD, Inc.

IVMD uses its proven, patented core technology to design, develop and test medical devices for near patient testing and monitoring. IVMD products serve large global markets in the monitoring of chronic conditions affecting large numbers of the population: the coagulation of blood in patients with cardiovascular disorders, pregnancy (advanced prediction of the onset of human labour), highly sensitive immunoassays, etc. From across all sectors of industry, the company uses proprietary technology to create rapid prototype and product development, in partnership with major global marketing and distribution partners. For more information, visit IVMD Inc. at:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "believe,'' "expects,'' "projects,'' "forecasts,'' "intends,'' "will,'' "anticipated,'' "could,'' or "may,'' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the act and are subject to the safe harbor created by the act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties.

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