COII AUGUST 1990 MISLEADING PRESS RELEASE $40MM ASIAN DEAL
But this announced $40 million of sales never happened...
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Copyright 1990 Business Wire Inc.
Business Wire
August 29, 1990, Wednesday
DISTRIBUTION: Business Editors
LENGTH: 381 words
HEADLINE: Computerized Thermal Imaging Inc. agrees to $40 million in equipment financing
DATELINE: PORTLAND, Ore.
BODY:
Computerized Thermal Imaging Inc. (CTI, OTC, Bulletin Board: 3COII), a state-of-the-art leader in medical diagnostic computerized thermal imaging technology, Wednesday released an agreement with Asian American Capital, a diversified merchant banking firm, headquartered in Tampa, Fla., to finance $40 million in CTI hospital-placed systems.
American's equipment financing commitment calls for 100 percent of the financing to be paid in cash to CTI upon presentation of a medical facility use agreement and financial approval of the institution by Asian American Capital. CTI management is confident that such involvement by Asian American Capital will implement rapid CTI systems placement in hospitals nationwide and insure the planned financial development of the company.
Asian American's principal operating divisions include financial services (leasing, financial advisory, invesments); healthcare products; and the strategic acquisition of healthcare facilities. Asian American also has a marketing joint venture with Primary Care Services Inc., a Florida corporation whose principal business is to identify medical labs, diagnostic clinics and similar businesses suitable for acquisition.
Computerized thermal imaging is a non-invasive, harmless technique using the body's own infrared energy like a road map to detect abnormalities in human physiology.
CTI's technological innovations, achieved exclusively through agreements with other industry leaders and the State University of New York, Buffalo, include: 1. computer routines in controlled environmental conditions; 2. a mass storage system that will make creation of a central data base possible, connecting hospitals and doctors across the coutry to an information storehouse; and 3. reliable transmission of computerized thermal images by telephone.
By 1992 CTI believes that substantially all hospitals and clinics, as well as 2 percent of all hospital-related physicians, will be users of CTI units.
CTI is headquartered in the Portland, Ore., area.
CONTACT: Computerized Thermal Imaging Inc., Portland
Gaylen Cox, 800/695-6956
by PCL Inc., Salt Lake City
Connie S. Ross, 801/521-7300 |
