What a difference an announcement can make:
Colorado MEDtech, Inc. Announces
FDA Approval of FreshAir Oxygen
Generation System
BOULDER, Colo.--(BW HealthWire)--Sept. 24, 1999--Colorado MEDtech, Inc. (NASDAQ: CMED - news), a Boulder, Colorado-based medical products and services company, today
announced that the U.S. Food and Drug Administration has approved CMED's FreshAir(TM) oxygen generation system.
The FreshAir system provides supplemental oxygen to nursing home facilities. The system can be
connected to the central oxygen supply of the facility or can be used to fill oxygen cylinders for use in the facility. It is designed to provide significant savings for facilities with respiratory patients, over other oxygen delivery methods. The system delivers 93% oxygen concentration, which is typical of most applications for patients in need of respiratory care. The current system is capable of supporting
the needs of 30 - 60 patients in a facility, depending on oxygen needs.
CMED plans to launch a sales and marketing campaign for FreshAir, through its subsidiary, BioMed
Y2K, Inc. (''BioMed''). BioMed has built a sales organization for sales to healthcare organizations of Y2K products and services. It is fully staffed with medical sales and support personnel to implement
the FreshAir program.
The FreshAir system will be marketed to large nursing home network corporations and individual
nursing homes with a population of 20 or more patients on respiratory care. FreshAir may be purchased or leased on a monthly basis, depending on the needs of the nursing home. FreshAir may
be sold in other markets where opportunities are identified.
John Atanasoff, CEO of Colorado MEDtech, stated, ''We are pleased to get FDA approval for the FreshAir system. We will aggressively sell this product in all markets where an opportunity exists.''
Colorado MEDtech, Inc., through its wholly-owned subsidiaries and operating divisions, is a leading full-service provider of advanced medical products and comprehensive outsourcing services.
Forward-Looking Statements
Statements in this news release which are not historical facts are forward-looking statements subject
to risks and uncertainties which could cause actual results to differ materially from those set forth in or
implied by forward-looking statements, including, but not limited to the risk that FreshAir, as a new
product, will not be accepted in the market at a level sufficient to positively impact operating results
and the risk that a downturn in general economic conditions or customer budgets may adversely
affect capital expenditure budgets of potential customers upon which the Company is dependent.
These factors are more fully described in the Company's filings with the Securities and Exchange
Commission, including its Form S-3 and its Form 10-K for the year ended June 30, 1998, copies of
which the Company will provide on request.
Contact:
Colorado MEDtech, Inc.
John V. Atanasoff, President and CEO
Stephen P. Hall, CFO
Telephone: 303/530-2660
Fax: 303/581-1010
Website: www.cmed.com
Email: cmedinfo@cmed.com
or
BioMed Y2K, Inc.
Chuck Philipp, Vice President
Telephone: 303/530-2660 |
