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Biotech / Medical : Colorado MEDtech, CMED -- Ignore unavailable to you. Want to Upgrade?

To: Paul K who wrote (247)	8/25/1999 2:04:00 AM
From: Paul K	Read Replies (1) \| Respond to of 288

"Colorado MEDtech, Inc. Expands Imaging Business With Asset Purchase of Creos Technologies" BOULDER, Colo.--(BW HealthWire)--Aug. 20, 1999--Colorado MEDtech, Inc. (NASDAQ: CMED - news), a Boulder, Colorado-based medical products and services company, today announced it has completed the acquisition of the assets of Creos Technologies, LLC (``Creos'). Creos, located in Englewood, Colorado, provides highly advanced x-ray generator subsystems for the medical imaging industry. Creos generators are installed in almost 800 advanced computed tomography (CT) scanners worldwide. The purchase price for the assets was approximately $2 million. Prior to the sale, Creos had annualized revenues of approximately $4 million. The assets purchased will be integrated into CMED's Imaging and Power Systems Division (formerly the Erbtec Engineering Division). The Imaging and Power Systems Division designs and develops magnetic resonance imaging (MRI) systems and high-performance solid state RF amplifier subsystems for MRI systems. ``This acquisition is an important strategic addition to enhance and diversify the technology of Colorado MEDtech,' said John V. Atanasoff, President and CEO of Colorado MEDtech, Inc. ``The Creos advanced x-ray generator will broaden and strengthen our product offerings for our important OEM clients. CMED is focusing on the medical imaging business, and this is a significant addition to our technical capabilities.' Colorado MEDtech, Inc., through its wholly owned subsidiaries and operating divisions, is a leading full-service provider of advanced medical products and comprehensive outsourcing services.