2007 Annual Report
TSO3 Starts to Make its Mark in a Replacement Market Worth $2 Billion
Inexorably, the influence of an enterprise is based on the recognition of its product and the satisfaction of its customers. For a new medical technology entering the market, this is even truer, and the first steps are crucial.
The success of our product among the first clients is the very foundation of our current influence and our long-term success. The development of our sales and service has been meticulous.
The referral site program, now ended, and the sales closed to date, put us in an ideal position for the group of innovative clients from nearly 30 healthcare institutions throughout North America. The decision-makers, who are also the leaders of opinion involved in associations, testify to the efficacy of our sterilization process, as well as to the numerous benefits our technology offers in terms of reducing operating costs, speed, simplicity, and safety for the users, the patients and the environment.
Through their positive references, these influential decision-makers support our sales efforts in a market that is opening up to us – a market worth $2 billion where we are carving out our place.
Company Profile
Since it was founded in 1998, TSO3 has made its mission the development and commercialization of innovative, high performance solutions with strong commercial potential, designed for the sterilization of medical instruments.
The Company has developed a unique sterilization process that utilizes ozone as the sterilizing agent. Compared to the other methods currently utilized, the ozone sterilization process – developed and patented by TSO3 – addresses the evolving needs in sterilization: it provides major savings in operating costs, greater security for both users and patients, and “green” technology that is environmentally friendly.
The Company believes this technology constitutes a viable replacement solution for other low-temperature sterilization processes currently utilized in hospital settings.
The Company’s first product, the 125L Ozone Sterilizer developed for hospital sterilization centres, entered the commercialization phase in 2006.
The 125L Ozone Sterilizer is a large capacity sterilizer designed for general clinical use. This reliable and easy-to-use device permits the efficacious sterilization of surgical and diagnostic instruments sensitive to heat and humidity. The 125L Ozone Sterilizer has been cleared for commercialization by both Health Canada and the United States Food and Drug Administration (FDA).
TSO3 currently has more than 70 employees, with nearly half in the sales and marketing team. TSO3 became a publicly owned company on August 30, 2001, with an Initial Public Offering of $5 million. The Company has raised an additional $65 million through subsequent rounds of financing and the exercise of warrants. Company shares are now traded on the Toronto Stock Exchange (TSX) under the TOS symbol.
For more information:
Marc Boisjoli, Vice President Finance and Chief Financial Officer
(418) 651-0003, Ext. 228 / mboisjoli@tso3.com
Caroline Côté, Director, Corporate Communications and Investor Relations
(418) 651-0003, Ext. 237 / ccote@tso3.com
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