MediGuide, Boston Scientific to Develop 3-D Devices

HAIFA, Israel, May 19 -- MediGuide Inc. has signed an agreement with medical device company Boston Scientific Corp., of Natick, Mass., to develop and market 3-D intravascular imaging and intrabody navigation technology.

The agreement includes an equity investment in MediGuide by Boston Scientific, codevelopment responsibilities for integrating Boston Scientific's device platforms with MediGuide's proprietary guidance system, exclusive global distribution and an option for Boston Scientific to acquire MediGuide in the future.

MediGuide is based in Haifa, Israel, and has a US office in Arlington, Va. It is a private venture in which Elbit Systems Ltd., also of Haifa, is a majority shareholder. MediGuide has developed the medical positioning system (MPS), which it says enables the real-time tracking of miniature sensors integrated into therapeutic and diagnostic medical devices. These "MPS-ready" devices will allow physicians to track their progress as they travel through the body, using advanced diagnostic systems such as Boston Scientific's intravascular ultrasound (IVUS) system and other noninvasive tehcniques, including angiography, magnetic resonance imaging and computed tomography scanning.

The companies said they plan to develop a product that integrates the MPS system with Boston Scientific's IVUS system and expands the IVUS image from 2-D to 3-D, to improve its clinical usefulness. They said they will also investigate applications for integrating the navigation technology into devices for interventional cardiology and radiology, neuroradiology, endoscopy and other specialties.

For more information, visit: www.mediguide.co.il/