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Biotech / Medical : ACMI - Accumed Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Sigmund who wrote (1127)	1/14/1998 12:31:00 PM
From: Frank Buck	Read Replies (1) \| Respond to of 1894

Sigmund, I think the important aspect initially, is the "no-dilution" aspect to existing Accumed shareholders, while equitizing cytopathology R&D expenses on the next generation product lines and those currently in development. Oncometrics Imaging Corp., which is 2/3 rds owned by AccuMed will be a chip thrown into the pot. (What's 50% of 0 revenues?) Secondly the release indicates that as a result of this newly formed venture, products will/should be... "brought to market more quickly and anticipate earlier profitability for AccuMed. Thirdly, "AccuMed will retain rights to all current products and development on the microbiology side of the business; the current AcCell Cytopathology System including the TracCell 2000 Slide Mapping System; and the AcCell 3000 fully-integrated microscopy workstation, due for market entry in the second quarter of 1998." Fourthly, "AccuMed will provide contract manufacturing for NewCo products and will receive a revenue stream from the sale of all future TracCell-related products." The over $6M cash infusion can only help AccuMed's existing current financial position. At least 50% ownership in this newly formed Company will be held by AccuMed (using AccuMed's technology and Management expertise). The commitment by Sakura sounds like a better long-term relationship then if they were to act only as a distribution channel for AccuMed's immediately available market-products. Lastly this joint venture is said to have additional "complimentary strategic partners" considering joining in the new-formed venture. This can only lead to an increase; in the awareness and critical mass of AccuMed as a world class player in the international health care diagnostic-equipment sector. I would appreciate any and all perspectives as to the potential down side. The immediate one that I see is the markets inability to perceive this as a beneficial venture. May appear as if AccuMed threw in the towel too early...but continuing R&D was not helping current quarters as we all know. Granted at some point down the road things may have developed...but how long down the road? I think it may create a quarter of accounting headaches, but in the near term (second) quarter and beyond it should prove beneficial. Frank

To: Sigmund who wrote (1127)	1/14/1998 4:51:00 PM
From: Cisco	Respond to of 1894

Sigmund, Looks great from where I'm seated! I forgot to add Sakura to Mystery Theater 1998.<g> Looks like ACMI is going to have a strong influence on the new company! Dr. Norman Pressman, President, Peter Gombrich , Chairman of the board, and at least 50% ownership. If my math is correct, Nasdaq net equity question just flew out of the window. I can't wait to hear the conference call!! The part that really intrigues me is where the release stated: Gombrich reported that several other complimentary strategic partners have been identified and have given an initial commitment to join the venture based on the synergistic nature of their product lines, core technologies and international market positions. That's one heck of a one liner!!! Does that include a mono-layer prep system??? Sigmund, it appears you signed on just in time for a great ride. Cisco