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Press ReleasesTeraRecon reorganizes with focus on advanced visualization, appoints new chief technology officer San Mateo, CA – November 30th, 2007: TeraRecon, Inc. (www.terarecon.com), a leader in innovative imaging processing technology and advanced 3D visualization solutions, today announced that its board of directors has approved the sale to XTrillion, Inc. of certain assets unrelated to TeraRecon’s medical advanced visualization business. XTrillion is a Japanese corporation newly formed by TeraRecon co-founders, Dr. Motoaki Saito, M.D., Ph.D. and Kazuo Takahashi. Dr. Saito will continue to serve as TeraRecon’s chairman and CEO, and Mr. Takahashi will also remain on the TeraRecon board of directors, but both will also join the board of directors of XTrillion. Mr. Takahashi, TeraRecon’s former chief technology officer and executive vice president, and Tetsu Hirata, TeraRecon’s former vice president of finance, will leave TeraRecon and assume management positions in XTrillion. Mr. Takahashi will be appointed as President, CEO and CTO of XTrillion, while Mr. Hirata assumes the role of CFO. Vikram Simha, formerly TeraRecon’s vice president of 3D engineering, will assume the role of chief technology officer and senior vice president of 3D engineering of TeraRecon. The assets being purchased by XTrillion relate to TeraRecon’s Dental cone-beam CT, non-medical cone-beam CT, ultrasound and certain other OEM business operations of TeraRecon, but do not include TeraRecon’s medical ultrasound scanner unit inventory. All contracts, rights, obligations and liabilities related to those businesses will be assigned to XTrillion by TeraRecon. TeraRecon will retain all assets related to the end-user and OEM operations in Aquarius (medical advanced visualization) and VolumePro (volume rendering engines). Those employees of TeraRecon working in areas related to the assets purchased by XTrillion will join XTrillion or the company’s USA subsidiary, PreXion, Inc. “By this, its 10th anniversary year, TeraRecon has developed a broad portfolio of exciting businesses in various stages of development,” said Dr. Saito, “Considered apart from other operations, TeraRecon’s Aquarius and VolumePro businesses are now well established in the marketplace, profitable, and moving into a phase of development where continued rapid growth must be sustained, with the additional requirement to improve margins and profitability at the same time. Meanwhile, TeraRecon has also been home to very promising and rapidly-growing business operations in advanced CT solutions including reconstruction and visualization components, complete scanner systems for non-medical applications, ultrasound engines and systems, and turnkey Dental cone-beam CT systems. These businesses are growing well, but they still require significant investment to realize their full potential, and profitability remains in the future. Accordingly, the time is right for TeraRecon to focus on the continued development of profitable operations for Aquarius and VolumePro, and allow XTrillion to provide a supportive and flexible environment for the remainder of the company’s operations, so that they may enjoy the same dynamic and rapidly-responsive environment that nurtured Aquarius and VolumePro to become the established businesses they are today.” Mr. Takahashi, President, CEO and CTO of XTrillion, said “I believe this move is an extremely positive one for both TeraRecon and XTrillion. It has been extremely challenging and rewarding to develop the technologies and end-user solutions that have made the Aquarius and VolumePro businesses successful to date, but today, the challenge we face is how best to allow Aquarius and VolumePro to move into the next phase of business growth, while providing enough attention and support to the following wave of successful businesses that are currently developing in our companies. The potential of TeraRecon’s former ultrasound and non-medical CT businesses, including inspection and dental operations, is significant and compelling, but success requires focus and investment and without question, this is best provided not within the TeraRecon environment, but in a separate company focused on nothing else but providing this. We look forward to a long and successful arms-length relationship with TeraRecon as we move forward with this mission.” Regarding the appointment of Mr. Simha as TeraRecon chief technology officer and senior vice president of engineering, Dr. Saito said, “Since Vikram joined TeraRecon in January, 2001 he has played a key role in engineering leadership for both Aquarius and VolumePro. He refers to himself as a ‘Volume Rendering Evangelist’ which aptly reflects his passion and enthusiasm for everything we do. I have no doubt he will be a great successor to Mr. Takahashi as he leads the next phase of technology innovation at TeraRecon.” Mr. Simha said “It has been extremely exciting to be a part of the pioneering culture at TeraRecon, where so much has been achieved in such a short time through the determination and commitment of the most talented engineers and designers. In my new role, I very much look forward to being able to lead our engineering teams to continue in this spirit of focused technology innovation, to drive the next phase of growth and differentiation for TeraRecon.” XTrillion will become a customer of TeraRecon for the supply of
certain Aquarius and
About XTrillion, Inc., Contact: XTrillion, Inc.
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