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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: makin_dough99 who wrote (24949)	3/29/1999 10:58:00 AM
From: Joe Copia	Respond to of 122087

long alert FIMG deal with GE Monday March 29, 10:35 am Eastern Time Company Press Release SOURCE: Fischer Imaging Corporation Fischer Imaging Reports $6 Million Exchange of Stock and Technology With G. E. Medical DENVER, Colo., March 29 /PRNewswire/ -- Fischer Imaging Corporation (Nasdaq: FIMG - news) today announced an agreement with General Electric Company, on behalf of its G. E. Medical Systems business (''G. E. Medical''), under which 826,666 or 62%, of the 1,333,333 shares of Fischer Series D Preferred Stock currently owned by G. E. Medical will be exchanged for a non-exclusive right to manufacture the Tilt-C System. Completion of the necessary technology transfer is required by mid-April. The Tilt-C is currently manufactured for G. E. Medical by Fischer. It is expected that this manufacturing activity will continue through at least the end of 1999. The remaining 506,667 shares of Series D Preferred Stock are convertible into an equal number of shares of Fischer common stock. Bill Fee, Vice President, Finance, noted that ''This transaction will result in revenue of approximately $6 million, before related expenses. Because the sale is being paid for by an exchange of preferred shares, there is no cash effect. As a result of the reduction in the number of outstanding shares of convertible preferred stock, diluted book value is expected to increase by approximately $.35 per share, or 10%.'' According to Morgan W. Nields, Chairman and Chief Executive Officer, ''Aspects relating to our relationship with G. E. Medical are now clarified. Going forward, it should be easier for Fischer to implement its strategy of de-emphasizing traditional OEM relationships in favor of strategic product development and distribution partnering relationships.'' Fischer Imaging Corporation designs, manufactures, and markets specialty and general purpose x-ray imaging systems for the diagnosis and treatment of disease. The Company's principal product lines are directed toward medical specialties in which minimally invasive techniques are replacing open surgical procedures. Cautionary statement under the ''Safe Harbor'' Provisions of the Private Securities Litigation Reform Act of 1995: The above release includes forward-looking statements which are subject to risks and uncertainties that could cause actual results or events to vary materially and adversely from those contained in the forward-looking statement, including statements regarding financial consequences of the agreement with G. E. Medical Systems and the results of implementing changes in the Company's OEM and strategic partnering strategies. Important factors that could cause actual results or events to vary materially include, but are not limited to, future demand for products covered by strategic partnering relationships, activities by competitors including marketing initiatives and product introductions, and decisions by G. E. Medical regarding future production of Tilt-C tables and C-arms. Please refer to a discussion of these and other factors in the Company's Form 10-K for the year ended December 31, 1997 filed with the Securities and Exchange Commission. The Company disclaims any intent or obligation to update these forward-looking statements. SOURCE: Fischer Imaging Corporation Joe PTG&LI !!!