The Medipattern Corporation
TSX VENTURE : MKI

The Medipattern Corporation

March 30, 2006 06:30 ET

Medipattern Receives Increased Revenue Commitment from Orison for Whole-Breast Imaging Project

TORONTO, ONTARIO--(CCNMatthews - March 30, 2006) -

Attention: Business/Financial Editors:

The Medipattern Corporation (TSX VENTURE:MKI), an award-winning developer of software applications for medical imaging, today announced an increased commitment from Orison Corporation of Johnson City, Tennessee, for Medipattern's work on Orison's new ultrasound-based 3D breast tomography platform. This new contract, for project-based services, is in addition to the B-CAD™ agreement with Orison announced in December of 2005. The new contract is related to modification of B-CAD for the Orison scanner, modeling ultrasound system components, and optimizing performance. Orison has now committed to a 50% increase from the original US$300,000 of fees anticipated for these services from Medipattern.

HIGHLIGHTS OF THE RELEASE

- Under the additional contract, Medipattern increases its project-based revenue by 50 percent;

- A customized version of B-CAD for Orison's whole-breast imaging is now underway;

- The new commitment underlines the strength of Medipattern's contribution to the Orison scanner.

Initially, the Orison contract related to customization of B-CAD™ for Orison's new scanner. Now the Company has received firm purchase orders for an expanded bill of work to include modeling services for scanner and probe design. The project-based services anticipated in this phase will likely be delivered throughout 2006.

"Since the signing of the original contract in December 2005, the Medipattern team has consistently exceeded our expectations on all deliverables outlined in our contract. As such, we felt very comfortable increasing our commitment to Medipattern under this new contract," stated Mark Stribling, CEO of Orison Corporation.

"B-CAD was originally developed as part of a whole-breast imaging system that Medipattern created and tested clinically," said Jeff Collins, CEO of Medipattern. "The concept of a fast, ultrasound-based, 3D whole-breast imaging system with detection and diagnostic capability has several extremely compelling clinical advantages, including very positive user response."

Orison's ultrasound-based 3D breast tomography system is designed to capture anatomically correct whole-breast patient images without either compression of the breast or radiation. The system will use B-CAD technology from Medipattern to improve the clinical workflow and help assist the medical practitioner in assessing the need to biopsy a selected nodule.

The Medipattern Corporation develops award-winning software applications for medical imaging. These applications enhance workflow while improving interpretive and diagnostic confidence. The Company's initial clinical application is B-CAD™ for breast ultrasound. B-CAD uses pattern recognition technology to assist radiologists in their efforts to classify and characterize lesions in ultrasound images of the breast. For additional information, please visit the Company's website at: www.medipattern.com.

B-CAD™ and B-CAD MRI™ are trademarks of The Medipattern Corporation.
Medipattern® is a registered mark of The Medipattern Corporation.

Forward-looking statements

This document contains forward-looking statements relating to Medipattern's financial performance, operations or business environment. Such statements are based on Medipattern's operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. A number of factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in the company's corporate filings, (posted at www.sedar.com). Consequently, readers should not rely on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Although any forward-looking statements are based upon what management believes to be reasonable assumptions, Medipattern cannot be certain that actual results will be consistent with these forward-looking statements, and the company disclaims any intention or obligation to update or revise any forward-looking statements for any reason.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this release.

Contact Information

  • The Medipattern Corporation
    Jeff Collins
    CEO
    (416) 744-0009 x224
    jcollins@medipattern.com
    or
    Ciris Investor Relations
    Investor Relations Contact
    Robin Sundstrom, President
    (416) 368-8770 x223
    robin@ciris.biz