REHOVOT, Israel, August 11 /PRNewswire-FirstCall/ -- Applisonix LTD , a developer of innovative ultrasound based solutions for the aesthetic market, received the 2008 European Technology Innovation Award for the aesthetics market from Frost & Sullivan, a global Growth Partnership company who provides research and consulting services to accelerate growth. Applisonix was awarded the lucrative award for developing its revolutionary and unique ultrasound technology, IMPRESA(TM).
Frost & Sullivan provides industry leading market research in several technology areas, including healthcare. The company's analysts and consultants publish market research and business intelligence data, including a recent comprehensive report on "Global Aesthetic Laser Market". The criteria for the final ranking of the Technology Innovation Award includes, among others: innovation significance in the industry, the potential to become an industry standard, the competitive advantage over other technologies, and the impact on the industry.
According to the award announcement, Applisonix' ultrasound technology platform offers a unique solution for long-term hair removal for all skin tones, hair colors, and body parts. "As ultrasound becomes an emerging technology in the aesthetic market, Applisonix' technology platform and experience pave the road for the company to join the leading aesthetic companies in the world in the hair removal and aesthetic market." Frost & Sullivan further state that "The technology holds huge market potential and the company showed impressive execution capabilities".
Sharon Mathews, Healthcare Research Analyst for Frost & Sullivan's Technical Insights team said: "We think ultrasound presents a huge opportunity in the aesthetic market in general, and specifically in hair removal. We chose Applisonix over other candidates, which are some of the leading light-based aesthetic companies, as Applisonix has developed an innovative ultrasound platform that could potentially change the way hair removal is done. Applisonix takes a phased commercialization approach, starting with a hair by hair solution for small body areas, and later a complementary component for larger body areas. Such gradual approach, common to disruptive technologies, can provide immediate commercial success, paving the way for increasing market share."
Alon Goren, Applisonix Founder and co-CEO, said: "We congratulate the recognition by some of the leading technology and market analysts, for the unique technology platform we developed, for the market penetration strategy, and for the company's commercial potential".
Applisonix Chairman, Prof. Yitzhak Peterburg stated that "The selection by a large and distinguished research firm such as Frost & Sullivan of Applisonix' technology as innovative, will help us establish Applisonix' position as a leading player in the global aesthetic market".
About Applisonix:
Applisonix develops ultrasound based solutions for aesthetic applications and is currently focused on the long-term hair removal market. The company went through an Initial Public Offering (IPO) in the Tel Aviv Stock Exchange (TASE) in the beginning of 2007. According to the company's prospectus's plan, the launch of the first device for the professional market is expected in first quarter of 2009.
For further information:
Investor Relations:
Noam Tepper - IR Manager
Financial Access Ltd.
+972-(54)-428-3328
Public Relations:
Eran Gabai - PR Manager
Gelbart Kahana - Investment Relations
+972-(54)-246-7378
USA:
Yossi Aloni - VP Marketing and Business Development
Applisonix Ltd.
