Gregory,
I think this is the announcement COII investors may have been waiting for...
Monday January 13 11:02 AM EDT
CTI Awards TRW An Estimated $27 Million Contract to Install Medical Diagnostic Systems in the U.S.
SAN BERNARDINO, Calif.--(BUSINESS WIRE)--Jan. 13, 1997-- TRW Inc has signed a contract estimated at $27 million with Computerized Thermal Imaging, Inc. (CTI) to provide system integration services for CTI(tm) diagnostic equipment systems.
Work on this four-year contract, the largest awarded to San Bernardino-based TRW Healthcare Information Systems, will be performed locally and in Ogden, Utah. TRW will install and maintain the diagnostic systems sold by CTI to hospitals and clinics throughout the United States and provide the operational and clinical training required to identify and diagnose soft tissue and physiological
disorders using TRW's advanced image processing technologies.
For the past year, TRW has collaborated with CTI and its affiliates in conducting clinical research and tests using this advanced technology. This contract formalizes and expands the prior cooperation
agreement to the installation of CTI(tm) systems. The contract's estimated value is based on CTI projected sales of more than 250 systems during the next four years.
The CTI(tm) system employs a sophisticated infrared camera and computing system that allows for the rapid collection and analysis of numerous images images and temperature data that clinicians can
examine over a several-minute testing period, with a high degree of accuracy.
CTI's thermal imaging technology is a "functional imaging method that non-invasively allows doctors and practitioners to identify symptoms of disorders and diseases in the body's soft tissues," says
R.V. Secord, CTI's president and chief operating officer of the Lake Oswego, Ore.-based company.
"In addition to providing system integration support, TRW will assist CTI in enhancing the system to meet additional governmental requirements for medical equipment," says Fred Alexander, managing
director of TRW Healthcare Information Systems. "TRW also will develop and operate a database registry for new classes of soft tissue disorders as they are identified and processed by TRW's advanced medical imaging laboratory in Ogden, Utah."
CTI is collaborating with medical equipment leasing companies in the U.S. to employ telemedicine technologies and Web-based automated billing methods for payment of services using the CTI(tm)
system. The telemedicine and Web-based technologies will be developed by TRW.
Computerized Thermal Imaging, Inc. markets and sells its computerized thermal imaging systems to hospitals, health management organizations, and free-standing imaging centers worldwide.
TRW Inc. provides advanced technology products and services for automotive and space and defense markets worldwide. TRW's 1995 sales were more than $10 billion.
CONTACT: TRW Inc.
Linda Javier, 310/812-4105 or
Al Frascella, 703/803-5353
or
CTI, 503/293-4311 |
