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IMRIS and Siemens announce long term OEM agreement

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^{Published in Health and Fitness on Monday, November 30th 2009 at 7:30 GMT by Market Wire}  

-- Renewed Supply Arrangement to include MRI and Angiography Equipment --

WINNIPEG, Nov. 30 /CNW/ - (TSX: IM) -- IMRIS Inc. ("IMRIS" or the "Company") and Siemens Healthcare ("Siemens") today announced the signing of a new Master OEM Agreement (the "Agreement") to support IMRIS's continued growth and expansion as a global leader in the provision of image guided therapy solutions.

Under the terms of the Agreement, Siemens will supply magnetic resonance ("MR") imaging scanners and angiography systems as component parts for IMRIS's fully integrated image guided therapy suites. The Agreement is for a five year period with provision to extend the agreement for successive two year terms. The Agreement renews and amends the previous arrangement between the two companies for the supply of MR imaging scanners that was entered into in November 2005.

IMRIS's products serve the neurological, cardiovascular and neurovascular markets. IMRISneuro provides magnetic resonance images to neurosurgeons during procedures such as tumour resections. The Company's newest products -- IMRISNV and IMRIScardio combine timely MR imaging with the capabilities of an angiography system to assist clinicians with patients suffering from neurovascular and cardiovascular disorders. IMRIS is formally introducing IMRISNV and IMRIScardio at RSNA 2009, which is being held at McCormick Place in Chicago from November 29th to December 4th. Demonstrations of IMRIS's products can be seen at the Company's booth, No.820, Lakeside Center Hall D.

"The quality of Siemens products and their level of customer service are important contributors to the delivery of IMRIS's leading edge solutions," said David Graves, IMRIS President & CEO. "We have developed a very positive relationship with Siemens over the past few years, and we look forward to working together under our renewed arrangement."

About IMRIS

IMRIS (TSX: IM) is a global leader in providing fully integrated, advanced imaging solutions that incorporate multiple imaging modalities including magnetic resonance and fluoroscopy to deliver timely information to clinicians during surgical or interventional procedures. The Company's systems serve the neurosurgical, cardiovascular and neurovascular markets and utilize patented technology that allows a high field MR scanner to be moved in to the operating room on demand, providing imaging during surgical or interventional procedures without compromising patient safety. The Company's products have been selected by leading medical facilities around the world.

About SIEMENS Healthcare

The Siemens Healthcare Sector is one of the world's largest suppliers to the healthcare industry and a trendsetter in medical imaging, laboratory diagnostics, medical information technology and hearing aids. Siemens is the only company to offer customers products and solutions for the entire range of patient care from a single source - from prevention and early detection to diagnosis, and on to treatment and aftercare. By optimizing clinical workflows for the most common diseases, Siemens also makes healthcare faster, better and more cost-effective. Siemens Healthcare employs some 49,000 employees worldwide and operates in over 130 countries. In fiscal year 2008 (to September 30), the Sector posted revenue of 11.2 billion euros and profit of 1.2 billion euros. For further information please visit: [ www.siemens.com/healthcare ].

Forward-Looking Statements

This press release contains and refers to forward-looking information based on current expectations. In some cases, forward-looking statements can be identified by terminology such as "will", "anticipate", "may", "expect", "believe", "prospective", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts. These statements should not be understood as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that actual results will be consistent with such statements. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and except as may be required by applicable law or stock exchange regulations, the Company assumes no responsibility to update or revise them to reflect new events or circumstances.