Echometrix LLC today announced that it has received clearance from the U.S. Food and Drug Administration to market its EchoSoftTM ultrasound technology.
EchoSoft is Echometrix’ first commercial offering. It is a powerful software package that is used with diagnostic ultrasound to assist with the diagnosis and monitoring of musculoskeletal conditions. EchoSoft’s proprietary technology generates color maps to help trained clinicians visualize structural characteristics that are unique to tendons and ligaments. This information is not available through the use of diagnostic ultrasound equipment or conventional software packages.
“We are very pleased to have reached this critical milestone in our company’s history,” said Sam Adams, the company’s CEO. “The FDA’s clearance of EchoSoft will help patients and clinicians better understand musculoskeletal conditions at both initial diagnosis and during rehabilitation. By enabling wider use of ultrasound for musculoskeletal evaluation with our EchoSoft product, we can lower medical imaging costs by helping to reduce dependence on MRI.
“By achieving this milestone, we have created significant value, not only for clinicians and patients, but for our shareholders, as well,” Mr. Adams said.
Although the company’s core technology can be used for a range of applications, Echometrix has focused on the musculoskeletal system because the emerging market is growing rapidly. The U.S. musculoskeletal ultrasound market is projected to grow by 27 percent per year, reaching $93 million annually by 2015, according to Frost and Sullivan.
EchoSoft is designed for compatibility with ultrasound equipment produced by all major manufacturers. The company estimates that there are roughly 24,000 ultrasound machines in use for musculoskeletal evaluation in U.S. healthcare institutions today.
Echometrix continues to participate in a range of longitudinal clinical studies with partners in the United States, Canada and Australia.
About Echometrix LLC
Echometrix is based in Madison, Wis. The company is commercializing proprietary ultrasound technology developed by Hirohito Kobayashi, Ph.D., at the University of Wisconsin-Madison and licensed from the Wisconsin Alumni Research Foundation. Dr. Kobayashi was among the first to apply the theory of acoustoelasticity to the evaluation of biological materials such as ligaments and tendons, while working at the laboratory of Ray Vanderby, Ph.D., at UW-Madison. The company seeks to provide workers, soldiers and athletes with a more available and objective evaluation of their musculoskeletal health, both at initial diagnosis and during rehabilitation.