Luis, Todays announcement has me VERY, VERY, VERY, EXCITED! I always knew Jack had a brain and I'm glad to see that he is finally starting to use it. Here it is: ]
Tuesday May 12, 6:33 am Eastern Time
Company Press Release
Caprius, Inc. to Acquire Comprehensive Breast Imaging
Center
WILMINGTON, Mass.--(BUSINESS WIRE)--May 12, 1998--Caprius, Inc. (Nasdaq: CAPR
- news) announced today that it had signed a definitive agreement to acquire the Strax Breast
Diagnostic Institute, a comprehensive breast imaging center in Lauderhill, Florida. The center has
annual revenues of approximately $1,250,000 and sees approximately 15,000 patients annually.
The purchase price is $600,000 and the transaction is structured as an asset purchase agreement.
This acquisition further defines and expands the strategy of Caprius to introduce its Aurora(R)
system into the commercial marketplace. The Aurora is the only FDA cleared breast scanning
device utilizing MRI (magnetic resonance imaging) technology. To date Caprius has entered into
joint venture agreements with the University of Arkansas for Medical Sciences in Little Rock,
Arkansas, Magee-Womens Hospital in Pittsburgh, Pennsylvania, and Englewood Hospital &
Medical Center in Englewood, New Jersey. Caprius also owns and operates its own center at
Faulkner Hospital in Boston, Massachusetts. An Aurora system was sold to University of Texas
Medical Branch at Galveston and is currently in operation.
Commenting on the acquisition, Jack Nelson, Caprius' Chairman and C.E.O., stated, ''Our foray
into Caprius' owned comprehensive breast imaging centers punctuates our confidence in our
capacity to distinguish and differentiate a breast imaging center with Aurora's unique utility. The
Strax Center is demographically ideal and has a significant patient population which can benefit
enormously from the introduction of the Aurora system in an expansive comprehensive breast
imaging center. The Strax Center is known for its quality approach to the diagnosis of breast
disease and patient care. It contains all the required diagnostic imaging modalities including
mammography, ultrasound, and a stereotactic biopsy system. This technological capacity coupled
with its strategic demographic location in a burgeoning area of southern Florida should provide
Caprius great reward.''
Caprius recently announced that it had secured equipment credit lines for up to $3.2 million which
will be used to advance Caprius' strategic plan to secure 20 installations for its Aurora system by
the end of 1999.
Caprius, Inc. is dedicated to the development and commercialization of the Aurora system, a
breast imaging system based on magnetic resonance imaging (MRI). The Aurora is the only
FDA-cleared, MRI-based dedicated breast imaging system in the United States.
Safe Harbor Statement:
The statements made in this press release which are not historical fact are ''forward-looking
statements'' which are based upon current expectations that include a number of risks and
uncertainties. Factors that could cause actual results to differ materially from the forward-looking
statements include meeting ordinary and customary closing conditions, delays in product
development, lack of market acceptance of technology, technological innovations of competitors
and changes in health care regulations, including reimbursement programs.
Contact:
Caprius, Inc.
Beverly Tkaczenko or Jorge Clemente
800/476-0569 |
