IMAT News_Look like this stock needs some luck... It is my understanding in the past Jack Welch, CEO of GE had some by-pass surgeries, just wonder what's his thought about IMAT scanner technology. ...Probably, he is just still worry about his GE superior technology rather than his health. Still hang in there.
SOUTH SAN FRANCISCO--(BUSINESS WIRE)--Sept. 17, 1998--
Imatron and Lifetest America, Inc. Agree to Extend Deadline for
Consummation of Sale of HeartScan Imaging Subsidiary
Imatron Inc. (Nasdaq:IMAT.O) said today that a study highlighted
in the September issue of the "Journal of the American College of
Cardiology" reported that the coronary calcium score, as measured by
electron beam CT scanning, is the "most powerful predictor of
angiographic obstructive and non-obstructive coronary artery
disease."
Two independently conducted studies just released add weight to
the value of accurately measuring the amount of coronary artery
calcification in patients with signs of heart disease. In their
September 1998 Journal, the American College of Cardiology
highlights a paper by Alan D. Guerci, MD and colleagues from St.
Francis Hospital in Roslyn, New York in which they concluded that
"EBCT scanning offers improved discrimination over conventional risk
factors" in the identification of disease in persons who underwent
coronary angiography.
Their study, which included nearly 300 people, demonstrated
that the Imatron EBT scans was able to predict increased likelihood
of mild or severe disease independent from the number of classical
risk factors, such as cholesterol, smoking status, age and male
gender, exhibited by the patient. In their analysis they showed that
defined thresholds of calcium score were between 8 and 15 times more
powerfully associated with coronary disease than age and cholesterol
ratio, the most powerful of the conventional risk factors in this
group.
Commenting on the study, Alan D. Guerci, MD, said, "Our study
shows that the coronary calcium score is more accurate than
conventional risk factor assessment in diagnosing coronary artery
disease. Its diagnostic power applies to non-obstructive (less than
50 percent narrowing of the artery), as well as obstructive disease.
This is particularly important because non-obstructive coronary
disease accounts for 50 percent of fatal and non-fatal heart
attacks, and because non-obstructive disease cannot be diagnosed by
any other non-invasive means, including stress testing."
In a separate study, performed by Schermund and co-authors at
the Mayo Clinic and reported in the "American Journal of
Cardiology," findings of "spotty" calcification, individual small
foci of coronary artery calcium, were found to be associated with
early atherosclerosis and arterial remodeling in 50 patients
undergoing coronary angiography. This study revealed that some
patients with normal or near-normal angiographic results still
exhibited EBT signs of early disease.
S. Lewis Meyer, Imatron's President and Chief Executive
Officer, said, "These studies not only further confirm the
pre-eminent role played by coronary calcification in coronary artery
disease as compared to conventional risk factors, but they also
document the unique ability of the Ultrafast CT scanner to
quantify the extent of heart disease, providing doctors and patients
with an inexpensive and non-invasive way to accurately measure the
degree of coronary calcification and the progression of
atherosclerosis.
"The Ultrafast is the only CT scanner on the market with the
capability of providing this kind of very detailed information. It
is the only machine capable of taking a 'freeze frame' picture of
the beating heart and consequently providing an accurate calcium
score. The level of precision demonstrated in these and other
studies is the reason that General Electic Medical Systems entered
into its strategic alliance with Imatron and is now selling our EBT
scanner through their dedicated cardiology sales force," Meyer
added.
Imatron also announced that it and Lifetest America, Inc. have
mutually agreed to extend the deadline for the closing of the sale
of HeartScan Imaging to Lifetest America in order to have sufficient
time to complete the transaction. Both companies have agreed to take
all possible steps to conclude the transaction as soon as is
practicable.
Imatron Inc. is primarily engaged in designing, manufacturing,
marketing, and supporting high performance computed tomography (CT)
scanners based on the Company's proprietary scanning electron beam
technology. Ultrafast CT(R) is a registered trademark of Imatron.
Imatron's Ultrafast CT scanner is now in use at major medical
centers around the world, including The Mayo Clinic, University of
Iowa, National Institutes of Health, UCLA, Stanford University,
University of Illinois, The Arizona Heart Institute, The Royal
Brompton Hospital in London, Tokyo University Hospital, Beijing
Hospital and the National University Hospital of Singapore.
Except for the historical information contained herein, the
matters discussed in this news release may contain forward-looking
statements that are based on current expectations and estimates
about the industry in which Imatron operates, the estimated impact
of certain technological advances, the estimated impact of published
research studies on scanner sales and procedures, as well as
management's beliefs and assumptions. It is important to note that
the Company's actual results could differ materially from those
projected in such forward-looking statements. The factors that could
cause actual results to differ materially include, among others:
failed clinical demonstration of certain asserted technological
advantages and diagnostic capabilities; reliance on product
distributors; competition in the diagnostic imaging market; failure
to improve product reliability or introduce new product models and
enhancements; delays in production and difficulty in obtaining
components and sub-assemblies from limited sources of supply;
inability to meet cash-on-delivery or prepayment terms from vendors;
determinations by regulatory and administrative government
authorities; patent expiration and denial of patent applications;
the high cost of the scanner as compared to commercially available
CT scanners; and the risk factors listed from time to time in the
Company's Securities and Exchange Commission reports, including
their reports on Form 10-K for their current fiscal year.
--30--RJ/la* WJA/la
CONTACT: Imatron Inc., South San Francisco
S. Lewis Meyer or Gary Brooks, 605/583-9964
or
Sitrick and Company
Jeff Lloyd or Tom Ekman, 310/788-2850 |
