AFP Imaging Begins Deliveries Of Its New Model Three Dimensional X-Ray Scanner For Dentists

Main Category: Dentistry
Also Included In: MRI / PET / Ultrasound;  Radiology / Nuclear Medicine
Article Date: 17 Dec 2007 - 3:00 PDT

email to a friend   printer friendly   opinions  

AFP Imaging Corporation (AFPC.OB) announced that it has begun the delivery and installation of the new model "VG" (vertical generation) Cone Beam CT x-ray scanners ("CBCT") to dentists in the United States, Canada and Europe. The Company recently received regulatory clearance from the FDA, Health Canada and the CE agencies for this new model. It joins the Company's well respected "New Tom" 3-D imaging product line. The Model "VG" allows the patient to stand, sit or stay in a wheel chair while they are scanned in an upright, vertical position. It utilizes a conical beam of x-rays that passes around the head, allowing the capture of a three dimensional, digital radiographic image of the patient's teeth and jaw structures. The Company's technology features proprietary software to capture and quickly display these detailed images. 3-D applications are vital for orthodontics, implants and oral surgery, among others, where complex cases require sophisticated imaging to plan the treatment procedure. Cone Beam imaging is quickly becoming the high tech, gold standard of care for the dental professional. Patients also benefit from reduced radiation dosage and quicker treatment scheduling.

The Company expects significant growth of profitable revenues from this new product. AFP's entry into the CBCT market was achieved in April 2007 through the successful acquisition of QR srl, Verona, Italy. QR has over ten years of product experience in this field. The Company is well along in integrating and expanding its domestic and foreign sales and manufacturing operations for improved, future efficiency. Management believes there is a strong future for AFP and over the next twelve months CBCT will become a major contributor to profitability. The Company estimates that the world market for Cone Beam CT scanners, over the next few years, could reach more than 4,000 new unit sales. With suggested retail price points of up to $200,000 per unit, the total world market could generate $600 to $800 million in sales, near term. The introduction of the new "VG" model positions AFP to increase its CBCT market share and become a major contributor to the growth of the Company. QR was an early pioneer in research and development of the basic CBCT technology. Vertical, CBCT patient positioning reduces the office space required for the equipment and will often replace an older, two dimensional panoramic x-ray unit. The Company's software upgrades and product development programs are being expanded for additional medical applications. Currently, AFP has about five hundred of the original New Tom 3-D units installed, worldwide.

Since the acquisition, the Company has significantly invested in sales and marketing programs to bring these CBCT products into commerce. AFP and QR attend and demonstrate all of its x-ray imaging equipment at the major dental trade shows in the USA and internationally. Recently, the Company attended the American Dental Association (September 2007), Greater New York Dental Convention (November 2007) and will be at the Chicago Mid-Winter Exposition in February 2008. AFP also exhibits at numerous other clinical meetings with its veterinary and medical imaging product lines. Sales leads are developed by direct contact with dentists as well as through its independent representatives. The Company promotes directly to end users by advertizing, lecturing at clinical study groups and continuing educational seminars. Internationally, over the past ten years, the Company utilizes a qualified dealer network that sells, install and support our CBCT installations in the global dental marketplace.

The remarks contained in this press release and presented elsewhere by management from time to time contain forward-looking statements, which involve risks and uncertainties, including statements regarding the Company's plans, objectives, expectations and intentions. The Company's actual results may differ significantly from the results discussed in this press release or in other forward-looking statements presented by management. Among the factors that could cause actual results to differ materially include the failure of revenue on new products to develop as estimated, regulatory delays, loss of existing customers, the Company's inability to meet increasing demand for its new products, general downward trends in the Company's industry and other risk factors as described in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectation or any change in events, conditions or circumstances on which such statement is based.

AFP Imaging Corporation

• Additional
• References
• Citations