MINNEAPOLIS, Dec. 31, 2010 (GLOBE NEWSWIRE) -- Vital Images, Inc. (Nasdaq:VTAL), a leading provider of advanced visualization and analysis solutions, has been awarded a Qualifying Therapeutic Discovery Project (QTDP) grant from the United States government for approximately $1.45 million, based on its commitment to and execution of innovation through research and development over the past year and a half.
Vital Images received the QTDP grant for nine technologies the company developed within the past 18 months. The company was awarded the most grant dollars of any Minnesota company, and ranked within the top thirty nationally.
"We are honored to receive this type of validation for the innovative work we do," said Michael H. Carrel, president and chief executive officer at Vital Images. "It reinforces and reflects our commitment to improving patient care through the use of imaging data and technology."
The Qualifying Therapeutic Discovery Project (QTDP) grant is a component of the 2010 health care reform bill (Patient Protection and Affordable Care Act of 2010) and aims to increase high quality jobs in the United States and advance the United States' global competitiveness in life, biological, and medical sciences.
About Vitrea Enterprise Suite
Vitrea Enterprise Suite (VES) is Vital Images' premier package of advanced visualization tools, clinical applications, and data management systems, backed by first-rate professional services. New optional features available in VES 6.0 include Dynamic MR*, XA 3D Angio, Oncology Fusion and a Denoising filter. In addition, Vitrea Enterprise Suite is the only advanced visualization solution certified VMware Ready™, allowing customers to virtualize the Vital Image Management System (VIMS). A separate license fee will be required when and if deployment in a virtualized environment is made available for Vitrea Core or Vitrea Advanced, should a customer choose this deployment option.
*Approved for use in the European Union and Canada.
About Vital Images
Vital Images, Inc. is a leading provider of advanced visualization and analysis software for physicians and healthcare specialists. The company's software provides users productivity and communication tools to improve patient care that can be accessed throughout the enterprise anytime, anywhere via the Web. Established in 1988 and headquartered in Minneapolis, Vital Images also has offices in Europe and Asia. For more information, visit www.vitalimages.com.
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Vital Images® and Vitrea® are registered trademarks of Vital Images, Inc. Vital Images disclaims any proprietary interest in the marks and names of others.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by that Act. These statements involve risks and uncertainties which could cause results to differ materially from those projected, including but not limited to dependence on market growth, challenges associated with international expansion, the ability to predict product, customer and geographic sales mix, fluctuations in interest rates, regulatory approvals, the timely introduction, availability and acceptance of new products, the impact of competitive products and pricing, dependence on major customers, the ability to successfully manage operating costs, fluctuations in quarterly results, approval of products for reimbursement and the level of reimbursement, and other factors detailed from time to time in Vital Images' SEC reports, including its annual report on Form 10-K for the year ended December 31, 2009. Vital Images encourages you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this release. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this release. The forward-looking statements made in this release are made only as of the date of this release, and, except as may be required by law, the company undertakes no obligation to update them to reflect subsequent events or circumstances.