Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : IMAT - ultrafast tomography for coronary artery disease -- Ignore unavailable to you. Want to Upgrade?

To: stock bull who wrote (2404)	4/16/1998 9:03:00 AM
From: ENOTS	Read Replies (1) \| Respond to of 3725

News +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ hursday April 16, 8:28 am Eastern Time Company Press Release Imatron Receives First Ultrafast CT Order Since Assuming Distribution Rights From Siemens SO. SAN FRANCISCO, Calif.--(BUSINESS WIRE)--April 16, 1998-- Imatron Inc. (Nasdaq:IMAT - news) said today that it has received its first order for an Ultrafast CT(R) scanner since reacquiring distribution rights from Siemens Medical Systems on April 1, 1998. The order is from the Advanced Imaging Center in Schereville, Indiana, and is valued at over $1.7 million. The sale will be recorded in the second fiscal quarter of 1998. Under the new distribution arrangement, Imatron has worldwide distribution rights for the Ultrafast CT scanner which includes the United States, Canada, Europe, and India -- markets that were previously served exclusively by Siemens. ''This initial order from the Advanced Imaging Center represents a major milestone for Imatron,'' said S. Lewis Meyer, Imatron president and chief executive officer. ''It demonstrates that we have the in-house capability to sell our Ultrafast CT scanners direct. Prior to our assumption of Siemens' distribution rights we assembled a new sales team and support staff that has over 60 years of combined experience in the medical imaging industry. With this $1.7 million order in place, it is very gratifying to see this group deliver so quickly. Based upon the initial response that we are getting from our representatives in the field, we feel confident that we will be able to significantly increase the number of scanners that we sell domestically. ''In addition, one of our objectives in regaining distribution rights from Siemens was to increase our revenues and gross margins. Because we retain a greater portion of the revenues from each sale now, direct sales is considerably more profitable for Imatron than distributing in these markets through Siemens,'' Mr. Meyer added. 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 Royal Brompton Hospital in London, Tokyo University Hospital, Beijing Hospital and the National University Hospital of Singapore. Imatron's HeartScan Imaging Inc. subsidiary provides Coronary Artery Disease Risk Assessment diagnostic services in a nationwide network of clinics. 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. Contact: Imatron Inc., So. San Francisco, 310/788-2850 S. Lewis Meyer, President/CEO Gary Brooks, VP Finance/CF ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++