(NRLD) NORLAND MEDICAL SYSTEMS, INC. ANNOUNCES ACQUISITION OF DOVE MEDICAL SYSTEMS, INC.WHITE PLAINS, N.Y.--(BUSINESS WIRE)--April 3, 1996--NORLAND MEDICAL SYSTEMS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: NRLD) announced today that is has acquired Dove Medical Systems, Inc. ("Dove") of Newbury Park, California The community of Newbury Park, California is located in the western portion of the City of Thousand Oaks and Casa Conejo, an unincorporated area of southern Ventura County. . Dove manufactures and sells a line of low-cost X-ray bone densitometers called OsteoAnalyzer , which are derived from the patented system used by NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. to monitor bone loss in space. Norland Medical Systems, Inc. has acquired Dove for stock, as well as the related patent and other technical assets for cash. Dove recently developed a new model of its OsteoAnalyzer, the SXA SXA Single Energy X-Ray Absorptiometry (bone density measure of wrist or heel) 3000, which measures bone mineral density bone mineral density n. See bone density. bone mineral density A measurement of bone mass, expressed as the amount of mineral–in grams divided by the area scanned in cm2. See Bone densitometry. with the push of a single button, eliminating the need for a separate computer system. This new device, which sells for under $20,000, is precise, fast and the easiest, least expensive bone densitometer A device that calibrates the relative strength of a color using complementary filters. Contrast with colorimeter. available on the market today. Dove achieved strong profitability on sales in excess of $2 million for the past 12 months, and is growing rapidly. In conjunction with the acquisition, Ms. Joan Piccioni, President of Dove, will continue to run the company as President and will report to Reynald Bonmati, Chairman of the Board and President of Norland Medical Systems, Inc. It is anticipated that Dr. Robert Piccioni, Chairman of Dove, will join the Board of Directors of Norland Medical Systems at the next stockholders' meeting scheduled in May. Reynald Bonmati, Chairman and President of Norland Medical Systems, Inc. stated, "We are extremely pleased to announce the acquisition of Dove Medical Systems, Inc. This acquisition will assist in enhancing Norland's existing broad-based product lines while strengthening our position as the industry leader in cost-effective bone densitometry bone densitometry (bōnˑ den·si·t , particularly with the addition of the first state-of-the-art X-ray bone densitometer priced under $20,000. In addition to our new product line, this transaction brings Norland strong technical and managerial talent sharing our philosophy, a manufacturing facility and a presence on the West coast." Ms. Joan Piccioni, President of Dove Medical Systems, Inc. stated, "This transaction will bring new energy to the field of bone densitometry. Dove was attracted to Norland not only because of the company's reputation for quality products, but also because we share the same view of the importance of low-cost bone density measurements. As a women, it is especially important to me that women have access to an easy and painless pain·less adj. Free from complication or pain: a painless operation. pain less·ly adv. method to measure their bone density at a reasonable cost. We are very excited to be a part of Norland. With Norland's world-wide distribution network and financial strength, Dove's newest OsteoAnalyzer and Norland's pDEXA(R), more women will have access to low-cost bone mass measurements, which will eventually help reduce bone fractures due to osteoporosis." Norland Medical Systems, Inc. markets, sells and services bone densitometers used to aid in the diagnosis and monitoring of osteoporosis and other bone disorders. The Company has rights to exclusive worldwide distribution and service of all current and future medical diagnostic products developed and manufactured by Norland Corporation and Stratec Medizintechnik GmbH. The Company's wholly-owned subsidiary, Dove Medical Systems, Inc., also manufactures, markets, sells and services bone densitometers used to aid in the diagnosis and monitoring of osteoporosis and other bone disorders. CONTACT: Company Contact: Reynald Bonmati President 914-694-2285 or Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: John Heilshorn Lippert/Heilshorn 212-838-3777/ext. 122 |
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