Well, this probably explains the softness in today's price . . .
Monday November 3 10:28 AM EST
Company Press Release
Prime Medical Services, Inc. Makes Forbes 200 Best Companies List
AUSTIN, Texas--(BW HealthWire)--Nov. 3, 1997--Prime Medical Services, Inc. (''Prime'') (Nasdaq/NM:PMSI) announced
that it has made Forbes Magazine's list of the 200 Best Small Companies in America.
Forbes evaluated more than 6,000 companies that have annual sales between $5 million and $350 million. To qualify for the
Forbes 200 Best, companies had to have a minimum five-year average return on equity of 14%, and a five-year annual growth
rate in sales and earnings per share of at least 15% and 8%, respectively. Prime's average return on equity was 14.2% while its
five-year growth rates were 34% for sales and 56% in earnings per share.
Prime currently operates a fleet of 60 lithotripters in 34 states which perform over 36,000 procedures annually through
contracts with over 400 hospitals and 225 managed care companies. Lithotripsy is a cost effective, non-invasive method for
treating kidney stones through the use of extracorporeal shock waves which pulverize kidney stones and permit them to pass
painlessly from the body. Prime currently operates one mobile thermotherapy device and is currently developing additional
mobile routes to provide thermotherapy services to hospitals and surgery centers to treat benign prostatic hyperplasia (BPH).
Thermotherapy uses microwaves to apply heat to the prostate resulting in relief of the symptoms of BPH without damaging
surrounding tissues. In addition, Prime provides installation, upgrade, manufacturing, refurbishment, and repair services for
major medical equipment manufacturers and mobile medical service providers.
For more information, visit Prime's website at: www.primemedical.com . |
