Valens' groundbreaking solution, the first on the market to
include a built-in electrosurgical noise canceller, will be on
display at MEDICA, marking Valens' entry into a new high-growth
market
HOD HASHARON, Israel, Nov. 11,
2024 /PRNewswire/ -- Today, Valens Semiconductor
(NYSE: VLN), a leader in high-performance connectivity, announced
that it will unveil a series of innovative solutions, including a
chip that will enable some of the industry's most advanced
endoscopes, at Medica 2024.
Based on the VA7000 chipset, the endoscopes offer a series of
key benefits, including exceptional EMC reliability during
electrosurgery, as well as high-resolution and wide field-of-view
video, which will enhance the capabilities of medical professionals
and improve patient outcomes. Further, with its small form factor
and extremely low power consumption, the solution is optimized for
high-performance single-use endoscopy – a growing segment within
the endoscopy vertical.
At Medica 2024, Valens will showcase a live demonstration of the
VA7000 chipset, with its built-in electrosurgical noise cancellers,
enabling a cautery procedure with exceptional EMC reliability and
no image loss.
More than 250 million endoscopies are performed every year
globally. Due to the rigorous, costly, and time-consuming
requirements of cleaning the endoscopes, the industry has been
attempting to transition to a disposable model. This transition has
been spurred by the FDA, which for years has been proclaiming the
need for single-use endoscopes to enhance patient safety. The
disposable endoscope market in the US is therefore growing at a 17%
CAGR, according to Grand View Research, and is expected to reach
USD 7.32 billion by 2030.
In addition to the VA7000 chipset, Valens will also display the
VS6320 chipset for high-performance USB3.2 extension, as well as
the VS3000 chipset for human-machine interface extension.
"Our participation in Medica 2024
marks the perfect opportunity for us to introduce our
cutting-edge connectivity solutions to the medical industry,"
Moshe Doron, SVP, Business
Development at Valens Semiconductor. "With its built-in
electrosurgical noise canceler, the VA7000 will provide exceptional
reliability and video quality for medical professionals. The
advantages of the VA7000 chipset remove the major roadblock that
had prevented the industry from transitioning to the long-desired
disposable endoscope architecture. We are already seeing
significant interest in this chip from our customers and partners,
and we're excited about the spotlight that Medica will allow us to
shine on our innovative technology."
Valens' solutions will be on display at Medica 2024 at the
Israeli Pavilion, Hall 15, Stand #E30, from November 11-14.
About Valens Semiconductor
Valens Semiconductor (NYSE: VLN) is a leader in high-performance
connectivity, enabling customers to transform the digital
experiences of people worldwide. Valens' chipsets are integrated
into countless devices from leading customers, powering
state-of-the-art audio-video installations, next-generation
videoconferencing, and enabling the evolution of ADAS and
autonomous driving. Pushing the boundaries of connectivity, Valens
sets the standard everywhere it operates, and its technology forms
the basis for the leading industry standards such as HDBaseT® and
MIPI A-PHY. For more information, visit
https://www.valens.com/.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding our anticipated future results, including
financial results, currency exchange rates, and contract wins, and
future economic and market conditions. These statements are based
on various assumptions, whether or not identified in this press
release, and on the current expectations of Valens Semiconductor's
("Valens") management and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Valens
Semiconductor. These forward-looking statements are subject to a
number of risks and uncertainties, including the cyclicality of the
semiconductor industry; the effect of inflation and a rising
interest rate environment on our customers and industry; the
ability of our customers to absorb inventory; competition in the
semiconductor industry, and the failure to introduce new
technologies and products in a timely manner to compete
successfully against competitors; if Valens fails to adjust its
supply chain volume due to changing market conditions or fails to
estimate its customers' demand; disruptions in relationships with
any one of Valens' key customers; any difficulty selling Valens'
products if customers do not design its products into their product
offerings; Valens' dependence on winning selection processes; even
if Valens succeeds in winning selection processes for its products,
Valens may not generate timely or sufficient net sales or margins
from those wins; sustained yield problems or other delays in the
manufacturing process of products; our ability to effectively
manage, invest in, grow, and retain our sales force, research and
development capabilities, marketing team and other key personnel;
our ability to timely adjust product prices to customers following
price increase by the supply chain; our ability to adjust our
inventory level due to reduction in demand due to inventory buffers
accrued by customers; our expectations regarding the outcome of any
future litigation in which we are named as a party; our ability to
adequately protect and defend our intellectual property and other
proprietary rights; the market price and trading volume of the
Valens ordinary shares may be volatile and could decline
significantly; political, economic, governmental and tax
consequences associated with our incorporation and location in
Israel; and those factors
discussed in Valens' Form 20-F filed with the SEC on February 28, 2024 under the heading "Risk
Factors," and other documents of Valens filed, or to be filed, with
the SEC. If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that Valens does not presently know or that Valens
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect Valens'
expectations, plans or forecasts of future events and views as of
the date of this press release. Valens anticipates that subsequent
events and developments may cause Valens' assessments to change.
However, while Valens may elect to update these forward-looking
statements at some point in the future, Valens specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing Valens' assessment as of
any date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
Press Contacts
Yoni Dayan
Head of Communications
Valens Semiconductor Ltd.
Yoni.dayan@valens.com
Pat Burek
Senior Vice President
Financial Profiles, Inc.
pburek@finprofiles.com
Investor Contacts
Michal Ben Ari
Investor Relations Manager
Valens Semiconductor Ltd.
michal.benari@valens.com
Lisa Fortuna
Senior Vice President
Financial Profiles, Inc.
lfortuna@finprofiles.com
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