MDST Medicsight

 

TIDMMDST 
 
RNS Number : 4183T 
Medicsight Plc 
05 June 2009 
 

 
+------------------------------------+------------------------------------+ 
| Press Release                      |                       05 June 2009 | 
+------------------------------------+------------------------------------+ 
 
 
Medicsight PLC 
 
 
("Medicsight" or "the Company") 
 
 
Share options re-pricing and Directors awarded options 
 
 
Medicsight PLC (AIM: MDST), industry leader in the development of Computer-Aided 
Detection (CAD) and image analysis software which assists in the early detection 
and diagnosis of disease, today announces that following the recent streamlining 
and restructuring of the business the board of Directors has approved an offer 
to employees to cancel all existing scheme A to I options. These are priced in 
the range of GBP0.23 to GBP1.10, and are to be replaced with half the original 
quantity under a new scheme J to be priced at 8.5p (closing market price on 14th 
May). Scheme J will vest at six monthly intervals over a three year period and 
the options are valid for a period of ten years. The offer has been made to all 
employees remaining in employment as at 14th May. 
 
 
In addition to this, Executive Directors David Sumner and Allan Rowley have each 
been awarded 2,000,000 scheme J options to be priced at 8.5p on agreement to 
cancel all previous options held under schemes A to I. 
 
 
Following these awards, the Directors' interests share options are set out 
below: 
 
 
+----------------+-----------+-----------+ 
|                |    Number |     Total | 
|                |        of |  options: | 
|                |   options |           | 
|                |  awarded: |           | 
|                |           |           | 
+----------------+-----------+-----------+ 
| David          | 2,000,000 | 2,000,000 | 
| Sumner         |           |           | 
+----------------+-----------+-----------+ 
| Allan          | 2,000,000 | 2,000,000 | 
| Rowley         |           |           | 
+----------------+-----------+-----------+ 
| Tim            |   875,000 |   875,000 | 
| Paterson-Brown |           |           | 
+----------------+-----------+-----------+ 
 
 
Allan Rowley, CEO, of Medicsight commented: "The restructure has been a 
difficult time for all staff and we would like to recognise the hard work and 
dedication of those staff that remain." 
 
 
- ENDS - 
For further information: 
+-------------------------------------------+----------------------------+ 
| Medicsight PLC                            |         www.medicsight.com | 
+-------------------------------------------+----------------------------+ 
| Allan Rowley                              |        +44 (0)20 7605 7950 | 
+-------------------------------------------+----------------------------+ 
| Daniel Stewart & Company PLC              |                            | 
+-------------------------------------------+----------------------------+ 
| Simon Leathers / Charlotte Stranner       |      +44 (0) 20 7776 6550  | 
+-------------------------------------------+----------------------------+ 
Media enquiries: 
+-----------------------------------------------+------------------------+ 
| Abchurch Communications                       |   +44 (0) 20 7398 7700 | 
+-----------------------------------------------+------------------------+ 
| Heather Salmond / Stephanie Cuthbert / Simone |   +44 (0) 20 7398 7718 | 
| Alves                                         |                        | 
+-----------------------------------------------+------------------------+ 
| stephanie.cuthbert@abchurch-group.com         | www.abchurch-group.com | 
+-----------------------------------------------+------------------------+ 
 
 
 
 
Notes to editors 
Medicsight PLC is a UK-headquartered, research driven, leading developer of 
computer-aided detection (CAD) and image analysis software for the medical 
imaging market. The CAD software  automatically highlights suspicious areas on 
computerised tomography (CT) scans of the colon and lung, 
helping radiologists to identify, measure and analyse potential disease and 
early indicators of disease. Medicsight's CAD software has been validated using 
one of the world's largest and most population diverse databases of verified 
patient CT scan data. Medicsight's ColonCAD(TM) and LungCAD(TM) software 
products are seamlessly integrated with the advanced 3D visualisation 
workstations of several industry-leading imaging equipment partners. 
 
 
About Computer-Aided Detection 
With increasingly sophisticated radiological imaging hardware such as 
Multi-Detector CT scanners, radiologists are facing a growing challenge in the 
amount of detailed patient image data that they must review for each patient 
examination. Some CT scan examinations generate as many as 1000 images per 
patient. Review of this data by the radiologist is not only time-consuming but 
also prone to error due to reader fatigue. CAD software can help the reviewing 
radiologist by analysing the image data and automatically highlighting 
suspicious regions of interest for closer inspection. Without CAD software some 
potential abnormalities or areas of disease may be overlooked. This is critical 
for diagnosis and the management of patient outcomes as early detection of 
disease greatly increases the probability of successful treatment and a positive 
therapeutic outcome. 
 
 
About Medicsight's CAD software 
Medicsight's ColonCAD(TM) and LungCAD(TM) software use an advanced CAD algorithm 
to analyse CT scans of the colon and lung and automatically highlight suspicious 
areas that may be indicators of disease. CAD may highlight areas easily 
overlooked by the reviewing radiologist, such as small lesions or regions that 
are hidden from view behind folds in the colon or normal structures and 
surrounding tissue in the lung. 
 
 
Both CAD products seamlessly integrate with the advanced 3D visualisation 
platforms of industry-leading imaging equipment partners. The integrated systems 
provide sophisticated image viewing capabilities, including 3D reconstructed 
image data, with the added advantage of demonstrating automatic CAD findings to 
assist clinical end users in the detection and analysis of disease. This allows 
clinical end users to perform either a 'second read', where CAD findings are 
displayed to the user after completion of an initial review of the CT scan data, 
or a 'concurrent read' where CAD findings are displayed during the user's 
initial review of the original CT scan images. 
 
 
Since inception, Medicsight has developed close and lasting relationships with 
some of the world's foremost clinicians in product related areas. This provides 
the Company with a wealth of clinical expertise and dedicated clinical research 
to support ongoing product development.  Medicsight also collaborates with a 
number of leading academic institutions and clinical research programmes 
worldwide to develop the Company's comprehensive database of  population diverse 
verified patient CT scan data, thus allowing Medicsight's products to be 
validated to the highest possible standards. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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