Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed a Master Research Collaboration Agreement with the Children’s National Medical Center (Children’s National) in Washington, D.C. Through this collaborative partnership, MDA and Children’s National will develop advanced medical robotics and “smart tools” to improve the quality of patient outcomes for children’s surgeries. The initial phase is valued at US$2.7 million.
‘The Sheikh Zayed Institute for Pediatric Surgical Innovation at Children’s National builds partnerships, such as this one with MDA, that will truly shift the paradigm of pediatric surgery,’ said Peter Kim, Vice President of the Sheikh Zayed Institute and Associate Surgeon in Chief at Children’s National. ‘The tools and robotics we conceive together moving forward will represent the first generation technology specifically to focus on precision in children’s surgery.’
‘We’re extremely excited to expand our medical business to provide surgeons with the most advanced tools available,’ said Craig Thornton, the general manager responsible for this business area. ‘We are continually assessing complex surgical procedures that can be performed more effectively and safely utilizing our innovative robotic solutions.’
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. (“MDA”) with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a contract. Any such forward-looking statements are based on MDA’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include failure of third parties and subcontractors; failure of systems to meet performance requirements and failure to anticipate changes in technology, technical standards and product offerings or comply with the requisite standards.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at www.sedar.com or on the Company's website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.