I own some VSM Medtech and it has really rallied this week.
VSM Signs Agreement with US Diagnostic Consortium for Three MEG Systems
Thursday June 26, 8:00 am ET
VANCOUVER, June 26 /CNW/ - VSM MedTech Ltd. (TSX:VSM - News) today announced that its CTF subsidiary has signed an agreement with a Nevada-based physician/investor consortium for three 275-channel magnetoencephalography (MEG) systems. The first system is scheduled for delivery in 2003, with the remaining two systems to be delivered late in 2004. The deal marks a significant milestone for VSM as it is the first multiple-unit order in the US.
"This contract is further evidence that we are entering a new stage in the development of the MEG market," said Skip Mendelson, VSM's Executive Vice President of MEG Products. "Heightened awareness of the patient-care benefits of MEG, an increase in the level of ongoing clinical research, and the ability to generate significant revenue are all driving commercial demand for the technology."
The first MEG system will be installed at a multi-modality imaging clinic being established in Las Vegas, Nevada. Included in the plans for the clinic are a 3T MRI system, a combined PET/CT scanner, a gamma camera, and a fluoroscopy unit. As per the agreement, and for competitive business reasons, the consortium has requested the release of only limited details prior to the clinic's official opening.
"Installation of a MEG system represents a significant opportunity for any new patient-care center," said neuroradiologist Dr. William Orrison, Jr., who will oversee clinical aspects of the MEG project for the consortium. "After several years of involvement in MEG research, it is exciting to be a part of the technology's transition to mainstream usage."
A veteran of MEG technology, Dr. Orrison was a member of the team of clinical researchers at Los Alamos National Research Laboratories that was the first to combine MEG and MRI images in the 1980s. He went on to become professor and chair of radiology at the University of Utah where he was director and cofounder of the Center for Advanced Medical Technology. Dr. Orrison has published 6 text books and more than 150 peer-reviewed scientific journal articles in the field of neuroimaging with more than 20 specifically related to MEG.
About CTF Systems Inc.
CTF Systems, a subsidiary of VSM MedTech, is the leading global supplier of magnetoencephalography (MEG) systems, a noninvasive diagnostic imaging technology used by clinicians and researchers for the detection and treatment of neurological disorders. With precision and accuracy, CTF's OMEGA System measures the strength and origin of electromagnetic fields caused by normal and abnormal brain activity.
About VSM MedTech Ltd.
VSM MedTech develops, manufactures, and markets medical devices for the diagnosis and treatment of neurological disorders and cardiovascular diseases. Targeting significant global market opportunities, VSM equips healthcare providers with noninvasive technology that improves the standard of patient care.
For further information please contact: Skip Mendelson, Executive VP, MEG Products, VSM MedTech Ltd., (925) 256-9818 tel, (925) 256-9830 fax, smendleson@ctf.com
Ryan Males, Manager, Corporate Communications, VSM MedTech Ltd., (604) 646-0973 tel, (604) 738-8762 fax, rmales@vsmmedtech.com
www.vsmmedtech.com |
