Printer Friendly
The Free Library
19,595,260 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Cholestech Announces $5.6 to $7 Million Contract With GMR Marketing to Provide Screenings for a Major Pharmaceutical Manufacturer.


Business Editors/Health & Medical Writers

HAYWARD, Calif.--(BW HealthWire)--April 19, 2001

WellCheck will provide testing services and introduce new point of

test health assessment technology

Cholestech Corporation (Nasdaq:CTEC CTEC Course and Teacher Evaluation Council (Northwestern University, Office of the Register)
CTEC Certified Technical Education Center
CTEC Certified Technical Education Center (Microsoft) 
) today announced a $5.6 to $7 million contract with GMR (Giant Magnetoresistance) See magnetoresistance.  Marketing, naming Cholestech's subsidiary, WellCheck(TM), to provide screenings for a major pharmaceutical manufacturer in 2001. While in force, the contract provides mobile consumer testing for one year and provides for a minimum of $5.6 million in revenue, with testing not to exceed $7 million.

The agreement includes up to $5.0 million in revenue for WellCheck -- an increase of 70 to 110% over last year's programs. The contract also includes up to $1.5 million in revenue to the Company's Diagnostic Products business, and up to $500,000 in revenue to WellCheck.com. The contract provides for termination during its one-year term by either party on 30 days notice. As a key component of GMR's mobile screening program, WellCheck will provide health screening and education to consumers, including full cholesterol profiles, blood pressure, glucose testing glucose test See 1 Glucose, see there 2 Glucose tolerance test, see there , and cardiovascular risk assessment.

GMR's mobile screening program will be conducted by five mobile screening units throughout 2001, with a goal of testing 165,000 to 220,000 consumers in more than 25 states. WellCheck will be using its proprietary "TEAMS" technology, or Test Event Activity Management System. TEAMS automates registration, data acquisition, and information management to enhance the screening services in WellCheck programs.

"WellCheck is pleased to provide services for GMR in their mobile health education program," said Warren E. Pinckert II, president and chief executive officer of Cholestech. "GMR's choice of WellCheck as a partner shows that WellCheck continues to expand its position as a leading Health Event Specialist, capable of supporting nationwide programs in multiple disease states using cutting edge technology."

"We are significantly expanding the menu of services we are providing to GMR this year, adding new tests and technology," said Jeffrey S. Aroy, chief operating officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
 of WellCheck. "The nationwide implementation of our TEAMS technology will allow us to provide every participant tested with a personalized health assessment of their risk for cardiovascular disease Cardiovascular disease
Disease that affects the heart and blood vessels.

Mentioned in: Lipoproteins Test

cardiovascular disease 
. We also build an information warehouse of securely stored and managed data that is immediately available for use in our partners' decision support or customer relationship management activities."

"We selected WellCheck as our partner because we believe they are the leading supplier of health event services," said Gary Reynolds, chief executive officer of GMR. "Our use of WellCheck will provide great support to this important national screening program."

About GMR Marketing

GMR Marketing, an Omnicom DAS agency, is a recognized national leader in sports, mobile, music/entertainment, ethnic, and lifestyle marketing; producing major events on behalf of its diverse client roster. The agency's numerous clients include: Coleman, Kraft Foods Kraft Foods Inc. (NYSE: KFT) is the largest food and beverage company headquartered in North America and the second largest in the world after NestlĂ© SA.

The Philip Morris Company (now known as Altria Group), a company that produces tobacco products, acquired Kraft for
, Mercedes, Microsoft, Miller Brewing Co., and NOKIA. Headquartered in Milwaukee, GMR also has offices in Charlotte, Chicago, Dallas, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
, and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden .

About Cholestech

Cholestech is committed to helping people successfully improve their health. Cholestech's business units -- Diagnostic Products, WellCheck(TM), and WellCheck.com -- combine to provide simple, accessible and reliable personal health information to consumers and health care practitioners around the world. Risk assessment and therapeutic monitoring using the Cholestech L-D-X(R) System helps reduce risk of cardiovascular disease, diabetes and liver disease Liver Disease Definition

Liver disease is a general term for any damage that reduces the functioning of the liver.
Description

The liver is a large, solid organ located in the upper right-hand side of the abdomen.
. The WellCheck(TM) national testing service allows for convenient consumer testing for a number of chronic conditions, including high cholesterol Cholesterol, High Definition

Cholesterol is a fatty substance found in animal tissue and is an important component to the human body. It is manufactured in the liver and carried throughout the body in the bloodstream.
, hypertension, blood sugar and osteoporosis. Consumers may enroll in WellCheck.com, a unique personal health management web site that provides interactive tools for assessing risk and monitoring progress in the management of whole-blood cholesterol levels and other lifestyle changes. Working together with health care providers, our goal is to ultimately enable people to lead longer, healthier and more active lives.

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 of Cholestech Corporation under 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: This release contains forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 as defined in the Private Securities Litigations Reform Act of 1995, including statements regarding: the successful completion of the GMR contract; actual revenues realized from the GMR contract; the proportion of revenues realized in Cholestech's subsidiaries from the GMR contract; the growth in mobile testing under the GMR contract; and the ability of TEAMS to enhance the screening experience. Actual results may differ materially from those in the forward-looking statements due to risks and uncertainties, including: those inherent in acquisitions of technologies and businesses; integration issues; unanticipated expenditures; changing relationships with customers, suppliers, and strategic partners; potential contractual, intellectual property, or employment issues; delays; the loss of a significant customer; the availability and pricing of competing products and services and the resulting effects on sales and pricing of our products and services; and other factors.

Cholestech LoDoX(R), WellCheck(TM), and WellCheck.com are registered trademarks of Cholestech Corporation. All other trademarks mentioned in this document are the property of their respective owners. For more information about Cholestech and its products visit us on the web at www.cholestech.com

WellCheck.com is available to the general public at www.wellcheck.com.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Apr 19, 2001
Words:845
Previous Article:Alaska Airlines Announces Earnings Conference Call; Thursday, April 19, 2001, at 1:00 p.m. ET.
Next Article:Bemis Company to Webcast Conference Call to Discuss First Quarter Results.
Topics:



Related Articles
Cholestech Corporation and AmeriSource Health Corporation Announce Pharmacy Distribution Agreement; Proprietary Cholestech L.D.X System will enable...
Cholestech Corporation Announces New Corporate Strategy, Moves Closer to the Consumer Through Personal Health Management.
Cholestech Corporation Announces Revenue of $27.4 Million in Fiscal 2000.
Cholestech Corp. Says `Razor & Razor Blades' Business Model Key To Ranking Among Bay Area's 150 Fastest Growing Public Companies.
Cholestech Reports 1st Quarter Results as Diagnostics Business Continues Growth Trend.
Kevin R. Stromberg Joins Cholestech Corporation as Vice President of Engineering -- WellCheck.com.
Cholestech Announces $1 Million Contract with GMR Marketing to Provide Testing Services; WellCheck Implements New 'TEAMS' Data Capture Technology in...
Rapid analytical weighing.
VNU and IMS health to merge operations in stock and cash deal.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles