Aspect Medical Systems Receives 2006 Shingo Prize for Excellence in Manufacturing
4/6/2006 8:40:00 AM EST
BIOWIRE
Aspect Medical Systems, Inc. (NASDAQ: ASPM) today will be receiving the 2006 Shingo Prize for Excellence in Manufacturing. The brain monitoring company manufactures BIS(R) technology, the market leading patient monitoring system for measuring the effects of anesthetics and sedatives on the brain. Aspect is one of ten companies to receive this honor and was selected based on diverse award criteria including measures of customer satisfaction, profitability, quality, cost and delivery, lean core operations, and leadership and empowerment of employees. Aspect will accept the Shingo Prize tonight at a ceremony in Covington, Kentucky.
"The Shingo Prize is a prestigious national honor that recognizes our efforts to build and sustain best-in-class manufacturing and operations at Aspect," said John Coolidge, vice president of Operations at Aspect. "We are proud of this achievement as it reflects a shared commitment to lean manufacturing, continuous improvement and operational excellence throughout the entire organization."
The Shingo Prize for Excellence in Manufacturing, called the "Nobel Prize for manufacturing" by Business Week magazine, was established in 1988 to promote awareness of lean manufacturing concepts and to recognize companies in the United States, Canada, and Mexico that achieve world-class manufacturing status. The Shingo Prize philosophy is that world-class business performance may be achieved through focused improvements in core manufacturing and business processes. The Shingo Prize is directed by a Board of Governors comprised of leading representatives of businesses, professional organizations, and academic institutions.
"Aspect Medical Systems has demonstrated a clear commitment to the implementation of lean manufacturing processes and was selected as a Shingo Prize recipient as a result of its consistent track record in raising and achieving the highest standards in manufacturing excellence," said Ross Robson, Shingo Prize Executive Director. "This commitment is an invaluable quality that we believe helps companies realize performance excellence in product quality, cost, delivery and general business results."
In addition to receiving the Shingo Prize for Excellence in Manufacturing, Aspect is also the sole recipient of the 2006 HR Medallion award which recognizes outstanding human resource practices that support lean manufacturing. "The HR Medallion award is an honor that we believe reflects Aspect's relationship culture and a strong value system built on teamwork, creativity and innovation," said Margie Ahearn, vice president of Human Resources at Aspect. "This human resource philosophy empowers all employees to drive for improvements in quality, performance and efficiency and ultimately enables us to implement the lean concept throughout our entire organization to achieve a competitive advantage in the market."
About BIS Monitoring
Using a sensor placed on the patient's forehead, BIS monitoring translates information from the electroencephalogram (EEG) into a single number that represents each patient's level of consciousness. This number - the BIS value - ranges from 100 (indicating an awake patient) to zero (indicating the absence of brain activity). Using the BIS value to guide administration of anesthetic medication, in conjunction with other vital signs, allows clinicians to make better-informed decisions to achieve optimal anesthesia.
About Aspect Medical Systems, Inc.
Aspect Medical Systems, Inc. (NASDAQ: ASPM) is a global market leader in brain monitoring technology. The Company's BIS technology has been used to assess more than 14.1 million patients and has been the subject of approximately 2,300 published articles and abstracts. BIS technology is installed in approximately 69 percent of America's top-ranked hospitals, as listed in the July 2005 U.S. News and World Report ranking of America's Best Hospitals, and in approximately 45 percent of all domestic operating rooms. In the last twelve months BIS technology was used in approximately 14 percent of all U.S. surgical procedures requiring general anesthesia or deep sedation. BIS technology is available in more than 160 countries. Aspect Medical Systems has OEM agreements with seven leading manufacturers of patient monitoring systems. The company is also investigating how other methods of analyzing brain waves may aid in the diagnosis and management of neurological diseases, including depression and Alzheimer's disease. For more information, visit Aspect's web site at http://www.aspectmedical.com.
Safe Harbor Statement
Certain statements in this release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may involve risks and uncertainties. The Company may, in some cases, use words such as "believes," "expects," "anticipates," "plans,""estimates" and similar expressions to identify these forward-looking statements. There are important factors that could cause the Company's actual results to vary from its forward-looking statements, including without limitation those factors set forth under the heading " Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2005 , as filed with the Securities and Exchange Commission. In addition, any forward-looking statements represent the Company's views only as of the date of this press release and should not be relied upon as representing the Company's views as of any subsequent date. While the Company may elect to update forward-looking statements in the future, it specifically disclaims any obligation to do so, even if its expectations change. Therefore, you should not rely on these forward-looking statements as representing the Company's views as of any date subsequent to the date of this press release.
