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Biotech / Medical : ACMI - Accumed Inc.

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To: Cisco who wrote (1765)	7/7/1998 10:58:00 AM
From: Frank Buck	Read Replies (2) of 1894

Hello Cisco..... How's that new yacht of yours? I have great sea legs and don't get sea sick if you need a deck-hand. I am heartened to see that the reports of your demise have also been greatly exaggerated..... unfortunately it would seem that AccuMed is terminally ill and Dr. Kevorkian may have to administer a lethal injection of warfarrin. You state: <On Feb 20, 1998 year you had Akzo Nobel officially notifying the company that its manufacturing and selling of the ESP instrument infringed on one of their patients. Thirteen days later you have AccuMed announcing it was looking for a buyer of the Microbiology Division Below is a response I received from Len Prange on that very subject... when the S-3 was released... informing of that patent infringement issue. The ESP/AKZo patent issue is not new. In fact it has been around since we purchased the ESP business over a year ago. AKZO is a company that likes to make noise about patent infringement and all previous correspondence has been directed at the former owners of ESP. Our IP counsel and our technical staff assure us that we are not infringing in any way. The buyer of micro is fully aware of the AKZO issue and it has not affected the deal. The lackluster numbers you depict are reason enough to sell off the micro -division.... and to concentrate attention on cytopathology sales and equipment. Operating expenses and COGS associated with micro-related sales will significantly be reduced and that alone should help the numbers on the income statement. If it costs a nickel to make $0.02375 it doesn't make much sense does it? Also the margins have been steadily reduced on micro sales.... perhaps as a function of competitive pressures and such. Bottom line AccuMed is better off without micro-sales..... unfortunately the investment community in general can't understand that and feels like AccuMed is giving away a treasure map to a Klondike gold mine. Time to get rid of all of the skeletons in the closet..... if this company is to amount to anything it will be from the Savant.... ACYT has come out with some interesting news... as has NPTH today. NPTH announced a pre-earnings release statement and was off about a half a point. ACYT announced some news regarding their PMA submittal and is up slightly. When do we ship off ????

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