Coffin Communications Group selected to represent Medstone International account.SHERMAN OAKS, Calif.--(BUSINESS WIRE)--Jan. 30, 1997--Coffin Communications Group-Investor Relations Thursday announced that it has been selected by California-based Medstone International Inc. (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 :MEDS meds A popular term for physician-prescribed medications ) to be that company's investor relations Investor relations The process by which the corporation communicates with its investors. firm. Medstone International, with headquarters in Southern California, is the only company in the United States that engineers, manufactures and services lithotripters and provides lithotripsy Lithotripsy Definition Lithotripsy is the use of high-energy shock waves to fragment and disintegrate kidney stones. The shock wave, created by using a high-voltage spark or an electromagnetic impulse, is focused on the stone. service on a fee-for-procedure basis. Lithotripsy is the leading non-invasive method of treating kidney stones with the use of shock waves. The company has a market capitalization of $46.02 million and is currently trading at around $8.25 per share. The company has shifted from primarily non-recurring lithotriptor lithotriptor /litho·trip·tor/ (lith´o-trip?tor) lithotripter. manufacturing revenue to recurring revenue sources: (1) fee for service; (2) per procedure licensing fee; and (3) maintenance fees. Medstone's market share in the United States continues to grow rapidly when measured in terms of procedures performed on its equipment. The number of procedures performed on Medstone's equipment operating in the United States increased to a record 22,298 in 1996, up from 19,339 and 16,577 in 1995 and 1994, respectively. Coffin Communications Group-Investor Relations, with headquarters in Sherman Oaks, represents more than 30 clients and is one of the West Coast's largest investor relations agencies. It also has offices in Irvine, Calif., and 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. . CONTACT: Coffin Communications Group, Sherman Oaks William F. Coffin/Rachel Reynolds, 818/789-0100 |
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