Aspyra Chairman and CEO Steven M. Besbeck Tells Investors That Company is Poised to Return to Profitability in 2007.CALABASAS, Calif. -- Aspyra, Inc. (AMEX AMEX See: American Stock Exchange : APY APY See: Annual Percentage Yield ) Chairman and Chief Executive Officer Steven M. Besbeck told a group of investors yesterday at the Rodman & Renshaw 8th Annual HealthCare Conference in 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. that, with the full integration of the merger with StorCOMM, Inc., and an anticipated acceleration of revenues, the Company is poised for a return to profitability in 2007. "The products and services associated with the StorCOMM merger have been fully integrated, and the costs associated with the merger are mostly behind us," Mr. Besbeck said. "With the realization of the synergies from the merger, Aspyra is now managing a broad portfolio of health management technologies that are fully scalable, operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. independent and web-enabled. The Company already has an installed base of some 400 accounts with 700 installations currently generating approximately $10 million a year in regular and anticipated recurring revenues. Since the growing global Health Care Information Technology (HCIT HCIT How Cool Is That? ) market is growing at a 12%-14% annual rate and is expected to reach $25 billon bil·lon n. 1. An alloy of gold or silver with a greater proportion of another metal, such as copper, used in making coins. 2. An alloy of silver with a high percentage of copper, used in making medals and tokens. dollars by 2009, Aspyra fully expects to leverage this success with new sales and recurring revenues, and to return the Company to profitability next year." Mr. Besbeck gave an overview of Aspyra's product offerings and their positioning within the marketplace. "Aspyra now provides a single source vendor solution, providing robust applications that encompass Clinical Information Systems (CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S ), Picture Archive Communication Systems (PACS (Picture ArChiving System) A storage and management system for high-resolution images. Typically pertaining to the medical field, images such as X-rays, MRIs and CAT scans require a greater amount of storage than other industries. ), and Clinical Image Management Systems (CIMS CIMS Courant Institute of Mathematical Sciences (New York University) CIMS Center for Integrated Manufacturing Studies (Rochester Institute of Technology) CIMS Chemical Ionization Mass Spectrometry ) that can be deployed in a variety of healthcare settings, including clinical laboratory, radiology, orthopedics, pharmacy and acute care. In addition to its existing installations in radiology, the Company also expects to further penetrate the orthopedic market, which represents some 9,000 potential sites," he said. "Aspyra is already a major part of the HCIT market," he continued. "We intend to fully take advantage of this success as we concentrate on our target market, which consists of some 3,000 unaffiliated hospitals of 300 beds or fewer and 1500 clinics in the United States. The Company has also seen growth in this sector from the upgrade of legacy PACS systems to current technology, which is expected to have approximately a 40% conversion ratio in the next five years" Mr. Besbeck also conveyed to investors the level of activity that Aspyra is generating overseas. "From an international perspective, we have already made strong inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ in the United Kingdom with multiple installations, including a PACS system for Royal Bournemouth Hospital, a 1,800-bed facility in Dorset, England," he said. "We have also installed a PACS system in the largest hospital in St. Petersburg, Russia, with 3,500 beds, and are developing other opportunities in Russia, South Africa, Hungary and Southeast Asia, where we have existing customers." "We have many things going for us," he said. "With the anticipated increase in demand for electronic medical records (EMR (ElectroMagnetic Radiation) The emanation of energy from everything in the universe. Although the EMR from electrical and electronic devices is typically measured for practical, every-day situations, every object, including humans, emanates energy. ) technology, and with Aspyra's clinical and diagnostic systems containing approximately 85% of a typical EMR, the Company is seeking to enhance its product offerings in this market sector either internally or through potential acquisitions, which would provide the Company a third business segment." About Aspyra, Inc. Aspyra is a global provider of Health Care Information Technology (HCIT) solutions and services to the healthcare industry. The Company specializes in Clinical Information Systems (CIS), Picture Archive Communication Systems (PACS) and Clinical Image Management Systems (CIMS) for hospitals, multi-specialty clinics, clinical laboratories, imaging departments and centers, orthopedic environments and pharmacies. Aspyra's highly scalable systems can be installed standalone or integrated to provide a single-vendor, enterprise-wide solution. For more information on Aspyra, its products and services, visit www.aspyra.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. , the outlook for Aspyra's markets and the demand for its products. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. Factors that could cause Aspyra's actual results to differ materially from these forward-looking statements include among others: whether the combined company will realize the potential benefits of the merger; the competitive environment; unexpected technical and marketing difficulties inherent in major product development efforts; the potential need for changes in our long-term strategy in response to future developments; future advances in clinical information technology and procedures, as well as potential changes in government regulations and healthcare policies; and rapid technological change in the microelectronics and software industries. The Company refers interested persons to its most recent Annual Report on Form 10-KSB and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements. |
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