COLOR KINETICS AND HOMEDICS FORGE LICENSING AGREEMENT
HoMedics licenses Color Kinetics' patents for innovative line of
LED-based sensory therapy products
Boston, MA and Commerce Township, MI - April 14, 2004 - Color Kinetics Incorporated and HoMedics today announced a strategic patent licensing agreement through which HoMedics will develop and market a new line of intelligent LED-based color light products designed for sensory therapy. The innovative Color Cube™ product line was recently unveiled at the International Home & Housewares Show in Chicago, Ill., and will be sold via HoMedics' major consumer distribution channels.
Tapping into the power of color therapy, the new Color Cube™ products feature illumination panels, which display color and light and react to sound, producing varying light patterns for mood-enhancing benefits.
"This is an exciting agreement for Color Kinetics that extends our reach in the market for LED-based consumer products," said Bill Sims, president and chief operating officer of Color Kinetics. "We're pleased to work with HoMedics, whose expertise in sensory therapy products will help reach an entirely new consumer audience for intelligent solid-state lighting technologies."
"HoMedics is pleased to have licensed Color Kinetics' technologies, which we believe will provide HoMedics with a substantial competitive advantage in this field. We are committed to introducing new and revolutionary products that promote health and personal wellness," said Ron Ferber, president and co-owner of HoMedics. "Once again, HoMedics is launching products with advanced proprietary technologies and considers this relationship with Color Kinetics a critical differentiator in the development of our ground-breaking color therapy product line. Our strategic relationship assures us even more exciting products in the future."
About HoMedics
Founded in 1987 and headquartered in Commerce Township, Mich., HoMedics established the home personal healthcare and wellness products category by creating its reputation as the leading manufacturer of back and body massagers, then expanding its product offerings to include footbaths, handheld massagers, home spa items, sensory relaxation systems and magnetic therapy products. In August of 2002, HoMedics acquired Taylor Precision Products, the leading North American manufacturer of thermometers, scales and related measurement products. Today, HoMedics manufactures the most complete line of home personal healthcare, wellness and relaxation products sold in America. The company's products are available worldwide at most major department, discount, drug, mass-market and specialty stores. For more information, refer to the HoMedics Web site at www.homedics.com. Color Cube is a trademark of Homedics, Inc.
About Color Kinetics
Color Kinetics Incorporated is a pioneer in the design, manufacture, marketing and licensing of intelligent solid-state lighting systems. The company's award-winning line of products applies the practical and aesthetic benefits of LEDs to transcend the limits of traditional light sources for use in high-performance lighting and OEM and licensing applications. Its products and technologies leverage a patented layer of digital intelligence, called Chromacore®, to generate and control millions of colors and dynamic lighting effects. Color Kinetics holds 28 patents and has over 115 patent applications pending that apply to many aspects of solid-state lighting technology. Founded in 1997, the company is privately held and is headquartered in Boston, MA with offices in the UK, China, and a joint venture in Japan. More information can be found at www.colorkinetics.com.
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