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June 2, 2010 — OTTAWA, ON – Panacis, a provider of collaborative product development services and advanced battery power systems, announced today that it has been listed in the 22nd annual PROFIT 100 ranking of Canada’s Fastest-Growing Companies. This announcement marks the second consecutive year that Panacis has appeared in the PROFIT 100 rankings. 

Ranking Canada’s Fastest-Growing Companies by five-year revenue growth, the PROFIT 100 profiles the country’s most successful growth companies. Published in the June 2010 issue of PROFIT and online at PROFIT100.com,  the PROFIT 100 is Canada’s largest annual celebration of entrepreneurial achievement. “Canada’s Fastest-Growing Companies are the poster children for entrepreneurship, innovation and pure tenacity,” says Ian Portsmouth, editor of PROFIT. “They demonstrate what it takes to succeed in today’s highly competitive, technology-driven global economy.”

“It’s an honor once again to be recognized as one of Canada’s fastest growing companies,” said founder and CEO of Panacis, Steve Carkner. “That we are able to capture this award a second year is due to the tremendous efforts of our staff and the continued loyalty of our customers. We view this as further validation of our maturing business strategy.”

The announcement follows recent news that Panacis acquired key technology assets from former battery engineering firm Lux Aviation Engineering, and subsequently opened a research facility in Tucson, Arizona. “Our recent growth has been fuelled by our track record of innovation, particularly in the field of advanced battery power systems,” said Gregory Bridgett, Chief Operating Officer of Panacis. “With this acquisition we expect to build on our successes and realize our potential to become a leader in this high-growth market.”

About PROFIT

Your Guide to Business Success is Canada’s preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 28 years, Canadian entrepreneurs and senior manag­ers across a vast array of economic sectors have remained loyal to PROFIT because it’s a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generat­ing positive economic and social change. Visit PROFIT online at www.profitmagazine.ca.

About Panacis

Panacis is a provider of collaborate product development services and advanced battery solutions. With comprehensive engineering and production capabilities, Panacis enables its customers to conceive and realize their ideas, and accelerate them to market. Collaborating with technology companies, entrepreneurs, and researchers, Panacis develops products for defense, medical, industrial, and consumer markets. A manufacturer of regulated products with an ISO quality management system, its manufacturing facility produces early-stage and low-volume products. Panacis is based in Ottawa and has a research facility in Tucson, Arizona. Visit Panacis online at www.panacis.com.

Contact: Gregory Bridgett, Panacis, gbridgett@panacis.com

May 31, 2010 — TUCSON, ARIZONA - Panacis, a provider of collaborative product development services and advanced battery solutions, has officially announced the opening of a research and development facility in Tucson, Arizona. This news follows a recent announcement by Panacis that it has acquired the technology assets of Tucson-based Lux Aviation Engineering in March 2010. The Tucson facility will be responsible for advancing the recently acquired technologies, and for developing new and innovative battery and power product concepts. The expansion further reflects strategic investments by Panacis to broaden its offerings for advanced battery technology markets.

Former Lux employees, the Tucson staff is to focus on development of aerospace battery products. The initial project will be the finalization of the newly acquired ‘main ship battery’, a high-power, advanced lithium battery for use in engine start applications. “We’re excited to have access to such strong engineering talent,” said Steve Carkner, Chief Executive Officer of Panacis. “They will be instrumental in helping us to realize the full benefit of our technology acquisition.” The Tucson facility will also develop a line of lithium-based emergency battery products for commercial and military aviation applications. This line of lithium-based emergency batteries will also satisfy the market demands for electric vehicles and industrial applications.

The Tucson facility represents a new presence in the United States for Panacis, which is a Canadian-based company. “Our new location will facilitate business with some of our US-based customers,” said Gregory Bridgett, Chief Operating Officer of Panacis.

Corporate operations, including those for Tucson, will continue to be managed out of the Panacis headquarters in Ottawa, Canada.

March 4, 2010 — OTTAWA, CANADA – Panacis, a provider of collaborative product development services, announced that it has acquired the core technology assets of Tucson-based battery engineering firm, Lux Aviation Engineering Corp. The acquisition includes a family of battery pack and power systems designs for a range of commercial aviation and defense applications. Panacis will immediately begin advancing these designs, pursuing key regulatory certifications, and undertaking production for key customers.

Among the technologies acquired, most notable is the Lux “Electro-Batt” design: an advanced concept for a high-power, low-weight battery platform for engine start applications. Designed for use as a drop-in replacement, the Electro-Batt platform offers substantial savings in weight, performance, and maintenance costs over currently-available battery technologies. It has been trialed on commercial aircraft, helicopters, and ground vehicles. “The Electro-Batt platform is highly advanced and unique in the market,” said Steve Carkner, Chief Executive Officer of Panacis. “It comprises years of effort and millions of dollars of investment by some extremely talented and experienced aerospace engineers.”

The acquisition extends Panacis collaborative product development services, and reinforces its capabilities as a developer of advanced battery power systems. “From implantable medical devices to high performance aircraft, Panacis has a strong track record developing battery solutions for a range of mission critical applications,” said Gregory Bridgett, Chief Operating Officer of Panacis. “We are excited to be able to broaden our offering with this innovative, high-performance technology.” Also included in the acquisition is a range of smaller battery system designs for commercial aviation and medical device applications.

The strategic investment is significant for Panacis signaling its intention to become a leading supplier of advanced battery and power systems products. Panacis expects to advance the newly acquired technology to develop custom and turnkey mobile power solutions for defense, aerospace, and medical markets.

June 1, 2009 — OTTAWA, CANADA – Panacis, a leading global provider of collaborative product development services, announced today that it has been named as one of Canada’s 100 fastest growing companies by PROFIT Magazine.

Ranking Canada’s fastest-growing companies by five-year revenue growth, the PROFIT 100 profiles the country’s most successful growth companies. Published in the June, 2009 issue of PROFIT Magazine and online at PROFITguide.com, the PROFIT 100 is Canada’s largest annual celebration of entrepreneurial achievement.

“It is gratifying to have built a business than can be counted among Canada’s most successful,” said Steve Carkner, founder and CEO of Panacis, formerly of Research In Motion. “This achievement has been realized thanks to the loyalty of our customers, the support of our shareholders, and the dedication of our staff. I’m excited by the continued prospects for our growth.”

Recruiting and retaining the most talented and motivated employees is seen as a key element of the company’s success. “Panacis is always on the lookout for exceptional staff”, asserts Gregory Bridgett, Vice President of Operations, also formerly of Research In Motion. “Currently, we see the hiring of a Senior Business Development Manager as critical to keeping on top of the tremendous opportunities.”

Formerly known as Panacis Medical, the company is in the process of changing its name to Panacis, reflecting a broadening demand for its services. “We have seen tremendous success in the fast-growing advanced battery market, which has taken us beyond medical device design.” While still providing product development for its medical technology customers, Panacis also lends its expertise in wireless and power systems to the design and manufacture of a wide range of innovative products for consumer and military markets.

About PROFIT Magazine

PROFIT: Your Guide to Business Success, offers news, strategies, tips, interviews and other resources to entrepreneurs leading Canada’s fastest-growing companies. Each year PROFIT—which currently reaches more than 300,000 readers nationally—hosts a number of events that bring together business leaders in the fast-growth segment and champions the interests of those leaders. PROFIT was founded in April, 1982 as Canada’s first national magazine geared to entrepreneurs.
For more information visit: www.PROFITguide.com.

About Panacis

Panacis is a leading global provider of collaborative product development services that enables its customers to conceive and realize their ideas, and accelerate them to market. With comprehensive engineering capabilities that include low power, wireless, advanced battery technologies, and electromechanical design, Panacis is an award-winning designer and manufacturer of innovative technology products. Panacis collaborates with technology companies, entrepreneurs, and researchers to develop products for medical, industrial, consumer, and military markets. A manufacturer of regulated products with an ISO quality management system, its manufacturing facility produces early-stage and low-volume products. Panacis was founded in 2002 and is based in Ottawa. For more information, visit www.panacis.com.

Contact: Greg Bridgett, Panacis, gbridgett@panacis.com

June 3, 2008 — Panacis Medical Incorporated (“Panacis”) and Bloorview Kids Rehab (“BKR”) are to collaborate on the development of “Body-Machine Interfaces for Voiceless Communications.” Under the direction of Dr. Tom Chau at BKR, Panacis will support the research and development of novel medical technologies that may provide new communications tools for a largely unaddressed segment of the disabled population. Individuals with certain neurological impairments can have an intact mind, but be locked inside a non-functional body. Today, the majority of these individuals do not have assistive technology to facilitate even basic communication. Based on promising preliminary research at BKR, non-invasive body-machine interfaces are proposed that will be capable of intelligently extracting information from physiological signals and map them to intentions. Such body-machine interfaces will allow individuals to translate mere thoughts into computer synthesized speech and control of external devices. The importance and potential impact of this research has been recognized through the granting of funds from the Ontario Centres of Excellence.

February 25, 2008 — OTTAWA, Spartan Bioscience, developer of the Spartan DX DNA Analyzer, has signed a Co-Development Agreement with Panacis Medical, a developer of non-invasive, convergent medical devices. This agreement reaffirms the role of Panacis as a partner in the design and manufacture of Spartan real-time PCR (polymerized chain reaction) products, and represents another milestone in the successful collaboration between the two companies. In working with Panacis, Spartan was able to bring the Spartan DX product from concept to commercial launch in twelve months.

November 5, 2007 — OTTAWA, Panacis Medical, design and developer of non-invasive, convergent medical devices, has announced today that Brian Radburn has joined the company as Acting Chief Financial Officer. Mr. Radburn is a chartered accountant and has 25 years of in-depth executive experience in the field of public accounting and financial reporting. Prior to joining Panacis, Mr. Radburn served as an audit partner with PricewaterhouseCoopers LLP, where he worked closely with emerging companies to align financial strategies with corporate goals. Mr. Radburn sits on the boards of a number of business organizations and charities, including roles as Chair of the Board of Trustees of the Children’s Hospital of Eastern Ontario. As a business and community leader, Mr. Radburn will be a strong contributing member of the Panacis Executive Team.

June 7, 2007 — OTTAWA, Panacis Medical has signed a manufacturing agreement with Spartan Bioscience to produce the first commercial units of their DNA analysis system. This agreement extends and enhances the design and development association between the two companies. Panacis was selected as manufacturer for its experience with “new product introduction”, reducing time and costs during the transition to high volume production. Panacis is also to support the regulatory files related to manufacturing and commercialization of Spartan products.

May 1, 2007 — OTTAWA, Panacis Medical is pleased to announce the hiring of Michael McDonnell in the role of Director of Quality Assurance and Regulatory Compliance. Mr. McDonnell brings a wealth of international quality, operations management, regulatory, and product safety experience to Panacis. He has particular experience with the medical device industry, having worked for and with recognized companies such as WorldHeart, Isotechnika, IatroQuest, AnnidiS Health Systems, and Flourosense. Mr. McDonnell will provide vital leadership for Panacis in the areas of quality, regulatory affairs, and product safety.

April 23, 2007 — OTTAWA, Panacis Medical has expanded its operations through the securing of additional floor space for a dedicated manufacturing facility.