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

To: art slott who wrote (2934)	3/1/1999 8:50:00 AM
From: WHL	Respond to of 3725

*** NEWS--> Imatron Announces Sale of HeartScan-San Francisco to Imaging Technology Group; $1.5 Million Purchase Financed by GE Capital SO. SAN FRANCISCO, Calif.--(BUSINESS WIRE)--March 1, 1999--Imatron Inc. (Nasdaq:IMAT) announced today that it has sold its HeartScan-San Francisco coronary artery disease risk assessment center for $1.5 million in cash to Imaging Technology Group (ITG), a privately-held diagnostic imaging services company located in South San Francisco, California. The transaction closed on February 25, 1999. The purchase by Imaging Technology Group was financed by GE Capital, consistent with the marketing alliance between General Electric Medical Systems and Imatron. S. Lewis Meyer, Imatron's Chief Executive Officer, stated, "We are pleased to announce the sale of HeartScan-San Francisco to Imaging Technology Group, which will result in a one-time transactional profit of approximately $.02 per share. We believe this is a positive step toward the sale of the remaining HeartScan operations and supports our corporate strategy of focusing all of our resources on worldwide sales of our Ultrafast CT(R) scanner. We are actively engaged in discussions with other interested parties regarding the sale of all, or a portion, of the remaining HeartScan operations and look forward to consummating a sale, or sales, in the near future." Mr. Meyer continued, "Imatron's investment in HeartScan created significant value by establishing the visibility of coronary artery scanning and Ultrafast CT, forming a foundation upon which we can build our new, focused sales initiatives under the leadership of our President, Terry Ross. We look forward to HeartScan continuing to be an important factor in creating and accelerating the revolutionary changes now apparent in the diagnosis and treatment of heart disease. The paradigm for dealing with heart disease in the United States is shifting toward more emphasis on the early diagnosis and treatment of atherosclerosis. Although this process is slower than we would like; it is inevitable and Ultrafast CT is at the center of this change." Jeffrey Anton, Chief Financial Officer of Imaging Technology Group, stated, "Based on the tremendous public awareness of the power and importance of Ultrafast CT and the Coronary Artery Scan generated by Imatron and HeartScan over the last three years, we are extremely confident in the business prospects for HeartScan-San Francisco. Advertising programs and physician education efforts have built a strong business base that we will now build on to increase patient volumes and profitability. We are looking forward to demonstrating the "state of the art" diagnostic capabilities of Imatron's electron beam tomography (EBT) technology combined with innovative computer workstation software to the San Francisco Bay Area community." HeartScan Imaging, Inc. currently operates coronary artery disease risk assessment centers utilizing Imatron's Ultrafast CT scanners in Houston, Texas; Washington D.C.; and Pittsburgh, Pennsylvania, as well as a scanner operated by a third party known as HeartScan-Iberia located in Cascais, Portugal, a suburb of Lisbon.

To: art slott who wrote (2934)	3/1/1999 8:50:00 AM
From: Thai Chung	Read Replies (1) \| Respond to of 3725

Monday March 1, 8:19 am Eastern Time Company Press Release Imatron Announces Sale of HeartScan-San Francisco to Imaging Technology Group $1.5 Million Purchase Financed by GE Capital SO. SAN FRANCISCO, Calif.--(BUSINESS WIRE)--March 1, 1999--Imatron Inc. (Nasdaq:IMAT - news) announced today that it has sold its HeartScan-San Francisco coronary artery disease risk assessment center for $1.5 million in cash to Imaging Technology Group (ITG), a privately-held diagnostic imaging services company located in South San Francisco, California. The transaction closed on February 25, 1999. The purchase by Imaging Technology Group was financed by GE Capital, consistent with the marketing alliance between General Electric Medical Systems and Imatron. S. Lewis Meyer, Imatron's Chief Executive Officer, stated, ''We are pleased to announce the sale of HeartScan-San Francisco to Imaging Technology Group, which will result in a one-time transactional profit of approximately $.02 per share. We believe this is a positive step toward the sale of the remaining HeartScan operations and supports our corporate strategy of focusing all of our resources on worldwide sales of our Ultrafast CT® scanner. We are actively engaged in discussions with other interested parties regarding the sale of all, or a portion, of the remaining HeartScan operations and look forward to consummating a sale, or sales, in the near future.'' Mr. Meyer continued, ''Imatron's investment in HeartScan created significant value by establishing the visibility of coronary artery scanning and Ultrafast CT, forming a foundation upon which we can build our new, focused sales initiatives under the leadership of our President, Terry Ross. We look forward to HeartScan continuing to be an important factor in creating and accelerating the revolutionary changes now apparent in the diagnosis and treatment of heart disease. The paradigm for dealing with heart disease in the United States is shifting toward more emphasis on the early diagnosis and treatment of atherosclerosis. Although this process is slower than we would like; it is inevitable and Ultrafast CT is at the center of this change.'' Jeffrey Anton, Chief Financial Officer of Imaging Technology Group, stated, ''Based on the tremendous public awareness of the power and importance of Ultrafast CT and the Coronary Artery Scan generated by Imatron and HeartScan over the last three years, we are extremely confident in the business prospects for HeartScan-San Francisco. Advertising programs and physician education efforts have built a strong business base that we will now build on to increase patient volumes and profitability. We are looking forward to demonstrating the ''state of the art'' diagnostic capabilities of Imatron's electron beam tomography (EBT) technology combined with innovative computer workstation software to the San Francisco Bay Area community.'' HeartScan Imaging, Inc. currently operates coronary artery disease risk assessment centers utilizing Imatron's Ultrafast CT scanners in Houston, Texas; Washington D.C.; and Pittsburgh, Pennsylvania, as well as a scanner operated by a third party known as HeartScan-Iberia located in Cascais, Portugal, a suburb of Lisbon.