By Krystle Chow, Ottawa Business Journal Staff
Tue,10:00 AM EST
Jan 23, 2007 -- Digital radiography technology developer ImaSight Inc. has launched its first product, a digital radiography sensor for use in veterinary diagnostics.
The Gatineau-based company's ImaSight4600 sensor aims to generate high-quality images at an affordable price, and uses an interface developed in conjunction with Ottawa-based Macadamian Technologies Inc.
"To achieve the digital image quality that you get with the ImaSight4600, you would need to pay at least $100,000 on the market today," said ImaSight chief executive John Brooks. "A veterinary hospital could convert to the ImaSight sensor for less than $50,000."
Mr. Brooks said the veterinary market was a lucrative one to explore because there are two-and-a-half times more veterinary hospitals than human hospitals in Canada and the United States.
ImaSight has been a pre-revenue stage company up until this point, and it has raised approximately $3 million in equity capital since its inception in 2001.
Mr. Brooks said the company is planning on setting up a limited partnership which will allow its angel investors to deduct approximately 90 per cent against their investments in the company. ImaSight will then eventually fold the partnership back into the company, he explained.
The company will demonstrating the sensor at the Ontario Veterinary Medical Association's Annual Conference and Tradeshow this week, and it plans to release the product in the veterinary market in April.
ImaSight is also planning to introduce new versions of the sensor about three months after the launch of the ImaSight4600, which will be targeted towards human health care.
