Caprius Completes Acquisition of Strax Diagnostic Breast Institute.WILMINGTON, Mass.--(BUSINESS WIRE)--July 1, 1998--Caprius, Inc. (Nasdaq: CAPR CAPR Colegio de Abogados de Puerto Rico (Spanish) CAPR Civil Air Patrol Regulation CAPR Computer Assisted Pipeline Review CAPR Capability Requirement CAPR Capability Request ) announced today that it closed on its acquisition of the Strax Breast Diagnostic Institute, a comprehensive breast imaging center in Lauderhill, Flori. For year-end 1997, the center had annual revenues of approximately $1,250,000 and saw 15,000 patients. The purchase price was $600,000 and the transaction was structured as an asset purchase agreement. The Strax center contains a broad array of diagnostic imaging modalities including mammography mammography, diagnostic procedure that uses low-dose X rays to detect abnormalities in the breasts. The early diagnosis of breast cancer made possible by the routine use of mammography for screening women increases a woman's treatment alternatives and improves her , ultrasound, and a stereotactic biopsy system. Commenting on the acquisiton, Jack Nelson, Caprius' chairman and 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. , stated, "The acquisition of Strax marks our entry into ownership and operation of comprehensive breast imaging centers. This acquisition will not only dramatically enhance Caprius' revenue stream, but should also serve as a showcase for our Aurora(R) system. We intend to be a force in the amalgamation of the fragmented market of breast imaging." This acquisition further defines and expands the strategy of Caprius to introduce its Aurora system into the commercial marketplace. The Aurora is the only FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. cleared breast-scanning device utilizing MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. (magnetic resonance imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. ) technology. To date Caprius has entered into joint venture agreements with the University of Arkansas for Medical Sciences The University of Arkansas for Medical Sciences (UAMS) is part of the University of Arkansas System, a state-run university in the U.S. state of Arkansas. The main campus is located in Little Rock. in Little Rock, Ark., Magee-Womens Hospital in Pittsburgh, Pa., and Englewood Hospital & Medical Center in Englewood, N.J. Caprius also owns and operates its own center at Faulkner Hospital in Boston. An Aurora system was sold to University of Texas Medical Branch "UTMB" redirects here. For other system schools, see University of Texas System. The University of Texas Medical Branch (UTMB) is a component of the University of Texas System located in Galveston, Texas, about 50 miles (80 km) southeast of downtown Houston. at Galveston and is currently in operation. Caprius Inc. is dedicated to the development and commercialization of the Aurora system, a breast imaging system based on magnetic resonance imaging (MRI). The Aurora is the only FDA cleared MRI-based dedicated breast imaging system in the United States. Safe Harbor Statement: The statements made in this press release which are not historical fact are "forward-looking statements" which are based upon current expectations that include a number of risks and uncertainties. Factors that could cause actual results to differ materially from the forward-looking statements include meeting ordinary and customary closing conditions, delays in product development, lack of market acceptance of technology, technological innovations of competitors and changes in health care regulations, including reimbursement programs.
CONTACT: Caprius Inc.
Beverly Tkaczenko/Jorge Clemente, 800/476-0569
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