CAPRIUS TO HAVE 20 INSTALLATIONS BY 1999.
Caprius Secures $3.2 Million Line of Credit
Financing Supports Expanded Distribution of the Aurora Breast Imaging System: 20 Agreements
Expected by End of 1999
WILMINGTON, Mass.--(BUSINESS WIRE)--April 7, 1998--Caprius, Inc. (Nasdaq: CAPR - news) today announced it
has secured equipment credit lines for up to $3.2 million. Caprius may draw from the credit lines to fund current and future
Aurora(R) installations including funding for Faulkner-Sagoff Breast Imaging and Diagnostic Centre, University of Arkansas for
Medical Sciences, Magee-Womens Hospital, and Englewood Hospital and Medical Center. The Company continues to
negotiate with other institutions for additional lines of credit.
The financing will be used to advance Caprius' strategic plan to secure 20 installations by the end of 1999 for its Aurora system,
the only FDA-cleared, MRI-based dedicated breast imaging system in the United States. To date, the Aurora has been
selected for installation at five sites in the U.S., including the Faulkner-Sagoff Breast Imaging and Diagnostic Centre in Boston,
Massachusetts.
Commenting on the new relationships, Jack Nelson, Caprius' Chairman of the Board, said: ''This financing agreement is a
strong signal to the financial community that there is confidence in the commercial application of the Aurora system in breast
care. Furthermore, these agreements enable Caprius to continue to open revenue sharing sites and company-owned centers
across the U.S. for the Aurora system, a strategy which is core to our overall business model.'' |
