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Biotech / Medical : COMPUTERIZED THERMAL IMAGING (COII)- research only -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (121)	4/28/1999 11:50:00 AM
From: chirodoc	Read Replies (1) \| Respond to of 256

Computerized Thermal Imaging to Consolidate its Breast Cancer Subsidiary; Consolidation Expected to Increase Efficiency and Reduce Redundancy April 28, 1999 08:32 AM OGDEN, Utah, April 28 /PRNewswire/ -- Computerized Thermal Imaging, Inc. (CTI), COII a leader in the development of medical thermal imaging, announced today its plans to consolidate its subsidiary, Thermal Medical Imaging, Inc. (TMI), into Computerized Thermal Imaging. The Company is undertaking this action in order to reduce costs, eliminate unnecessary overhead, and improve efficiency. The Company further announced that the name of Thermal Medical Imaging, Inc. has been changed to Computerized Thermal Imaging Company. Commenting on these organizational changes, David Packer, who has been serving as president of both CTI and TMI, stated, "TMI was created by CTI several years ago to investigate and implement the use of the Computerized Thermal Imaging technology in the area of breast cancer detection. Excellent progress has been made to date; clinical trials are nearing completion and the preparation of materials necessary for FDA submission and approval is well underway. Over the coming months we will be concentrating on successfully completing the trials and achieving FDA approval. "In order to focus on this goal while meeting other business objectives, we realized that the conditions which had initially encouraged us to establish TMI as a separate subsidiary no longer existed, and that it would be more cost-effective to consolidate TMI back into CTI. Furthermore, such consolidation would also help alleviate some of the confusion that has developed in the marketplace about the two companies, their relationship and the CTI technology," Packer added. Packer said that the consolidation requires a number of legal steps to be completed and may therefore take some time. He noted that as a first step, all corporate management and accounting functions have been consolidated to CTI's Layton Utah office. Computerized Thermal Imaging, Inc. develops and deploys thermal imaging and associated technologies for use in the enhancement of medical screening, diagnosis and patient management. More information about CTI can be found on the Internet at www.cti-net.com or by calling CTI Public Affairs at (801) 776-4700.