ADAC Signs Five-Year Nuclear Medicine Contract with North Shore-Long Island Jewish Health System.MILPITAS, Calif.--(BUSINESS WIRE)--May 19, 1998--ADAC Laboratories (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 :ADAC ADAC Allgemeiner Deutscher Automobil Club (German automobile club) ADAC Aboriginal Drug and Alcohol Council ADAC Art Directors and Artists Club (Sacramento, California) ADAC Alcohol and Drug Abuse Council ), the world market share leader in nuclear medicine and radiation therapy planning systems, announced today that it has signed a five-year contract to supply nuclear medicine systems to the North Shore-Long Island Jewish Health System headquartered in Great Neck, NY. An initial order has already been placed for seven systems valued at approximately $2.5 million. The Company believes that this contract may generate over $15 million in revenues over the contract term. The North Shore-Long Island Jewish Health System delivers medical care to patients in five counties in the Nassau-Suffolk, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Metropolitan area. It has 13 hospitals, two nursing homes and over 100 ambulatory sites with 7,800 affiliated physicians. R. Andrew Eckert, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ADAC stated, "We are extremely pleased to establish this important strategic alliance with North Shore, a premier medical care provider. We believe the key factors in North Shore's selection of ADAC as its nuclear medicine provider were the benefits offered by ADAC's advanced technologies. These technologies give health care providers the opportunity to greatly improve diagnostic quality, thereby decreasing overall cost of patient care. ADAC looks forward to working with North Shore in meeting its nuclear medicine needs." In commenting on the contract, System Vice President of Material Support Services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , Joseph Burns, said, "This contract is not only a boon to ADAC, but to all the patients who are served by the North Shore-LIJ System. Excellent quality, state-of-the-art equipment will be available for both diagnostic and treatment purposes." ADAC Laboratories is the world market share leader in nuclear medicine and radiation therapy planning systems, and a leading supplier of radiology information systems. In 1996, ADAC became the first healthcare manufacturer to receive a Malcolm Baldrige National Quality Award The Malcolm Baldrige National Quality Award is given by the United States National Institute of Standards and Technology. Through the actions of the National Productivity Advisory Committee chaired by Jack Grayson, it was established by the Malcolm Baldrige National Quality . ADAC is headquartered in Milpitas, CA with its HealthCare Information Systems division in Houston, TX. This press release contains forward-looking statements. Factors that could cause actual results to differ materially from those contained in such forward-looking statements include those factors set forth under "Business Considerations" in the Company's most recent Form 10-Q Form 10-Q See 10-Q. . All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements. CONTACT: Jenny D. Lee Director of Investor Relations Investor relations The process by which the corporation communicates with its investors. 408/321-9100 |
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