Novadaq to Release Q3-09 Financial Results on November 12-Conference Call to Follow

TORONTO, ONTARIO, Oct 29 (MARKET WIRE) --
Novadaq(R) Technologies Inc. (TSX: NDQ), a developer of real-time medical
imaging systems for the operating room, will announce its third quarter
2009 financial results prior to the market opening on Thursday, November
12, 2009.

Novadaq is pleased to invite all interested parties to participate in a
conference call on November 12th, at 10:00 a.m. Eastern Time during which
the results will be discussed.

Those wishing to access the live conference call by telephone should dial
1-877-407-0778 (within Canada and the United States) or 1-201-689-8565
(international callers) several minutes prior to the beginning of the
call. A telephonic replay of the conference call will be made available
until midnight on 12/12/09 and can be accessed by dialing 1-877-660-6853
(within Canada and the United States) or 1-201-612-7415 (international
callers) and entering the account number 286 and the conference
identification number 336494 when prompted.

The call will be archived for 365 days on the company's website at
http://www.novadaq.com under the "Events" tab in the Investors section.
In addition, a replay of the call will be available for download to a
portable audio player or computer, as an MP3 or podcast file, at the same
location on Novadaq's website.

About Novadaq Technologies Inc.

Novadaq develops and commercializes real-time imaging systems for use in
the operating room. Novadaq's SPY(R) Imaging System uniquely enables
surgeons to visualize blood vessels, blood flow in tissue, tumors, tumor
margins and the lymphatic system in real-time during surgery. This core
technology is now being applied across multiple surgical markets such as
cardiac, plastic and reconstructive, gastrointestinal, urological,
general, micro and transplant. The PINPOINT(TM) System for endoscopic
autofluorescence imaging is Novadaq's first minimally invasive product.
PINPOINT allows surgeons to differentiate between healthy and cancerous
tissue in the lung and other hollow organs. Expanding its portfolio of
minimally invasive products, Novadaq offers SPY scope, which combines the
typical features of a standard endoscope with the capabilities of SPY
Imaging. The ability to visualize tissue perfusion and flow through
vessels, ducts and the lymphatic system adds another dimension to the
images available to surgeons during endoscopic surgical procedures.
Novadaq also leverages its core technology to offer the OPTTX(R) System,
which is designed for the diagnosis, evaluation and treatment of wet
Age-related Macular Degeneration (AMD). Novadaq is the exclusive United
States distributor of PLC Medical's CO2 HEART LASER(TM) System, which is
used in the same cardiac procedures as the SPY Imaging System. For more
information, please visit the company's website at http://www.novadaq.com.

Forward-Looking Statements

Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those implied
by such statements, and therefore these statements should not be read as
guarantees of future performance or results. All forward-looking
statements are based on Novadaq's current beliefs as well as assumptions
made by and information currently available to Novadaq and relate to,
among other things, results of future clinical tests of PINPOINT, SPY(2)
scope and the SPY Imaging System, anticipated financial performance,
business prospects, strategies, regulatory developments, market
acceptance and future commitments. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date of this press release. Due to risks and uncertainties,
including the risks and uncertainties identified by Novadaq in its public
securities filings actual events may differ materially from current
expectations. Novadaq disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

Contacts:
Novadaq Technologies Inc.
Suzie Robinson
905-629-3822 X 333
Email: srobinson@novadaq.com
Website: www.novadaq.com

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