iSonea (ASX: ISN) is the new company name (and ASX Code) for KarmelSonix (ASX: KSX), with the name becoming official today after shareholders approved the name at a general meeting held earlier in the month.
Mike Thomas, chief executive officer, said that the new name more accurately reflects what the company does and stands for.
"The 'i' signifies innovation. 'Son' refers to the Latin word 'Sonus,' meaning sound. 'ea' references the Latin word 'Apnoea,' meaning without breath. So, the new name of the company describes what we do: the innovative analysis of sound for breathing disorders."
iSonea looks to lead global revolution
Thomas just last week said the company has a real chance to lead a global revolution in the way breathing disorders, especially asthma, are managed.
Thomas said in his first address since taking over the reins said "we can create a billion dollar industry, while providing a solution to better detect and manage life threatening breathing disorders worldwide."
His experience in the respiratory and breathing disorder markets in the US (one IPO on Nasdaq, one M&A to GE Healthcare and one independent firm now a global leader) had convinced him iSonea had a pathway to profitability could be paved with a reasonable probability of execution success.
iSonea offers an innovative platform for helping patients, physicians, and healthcare insurance providers a solution to better detect life threatening breathing disorders and deliver a better patient outcome.
Thomas outlines key objectives for 2012
- Fill out the remaining gaps in the management team with best in class executives;
- Complete our capital campaign that enables the company to achieve substantive milestones over the next 12 months;
- Consummate additional strategic partnership deals in industries that are currently not represented (medical device manufacturer, pharmaceutical manufacturer, healthcare payer, disease management service provider, etc…); and
- Initiate, complete, and publish key clinical outcome studies that enable the company and the American Thoracic Society (ATS) to jointly lobby the American Medical Association (AMA) to issue Category I codes (the company currently has Category III codes issued) for the WheezoMeter™ and the WHolter™ - a Category I supports negotiation with major third party insurers and rapid scale up of revenue in the US.