Colorado MEDtech, Inc. Announces FDA Approval of FreshAir Oxygen Generation System.BOULDER, Colo.--(BW HealthWire)--Sept. 24, 1999-- Colorado MEDtech, 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 : CMED CMED Coordinated Medical Emergency Direction CMED Central Massachusetts Emergency Dispatch ), a Boulder, Colorado-based medical products and services company, today announced that the U.S. Food and Drug Administration has approved CMED's FreshAir(TM) oxygen generation system. The FreshAir system provides supplemental oxygen to nursing home facilities. The system can be connected to the central oxygen supply of the facility or can be used to fill oxygen cylinders for use in the facility. It is designed to provide significant savings for facilities with respiratory patients, over other oxygen delivery methods. The system delivers 93% oxygen concentration, which is typical of most applications for patients in need of respiratory care. The current system is capable of supporting the needs of 30 - 60 patients in a facility, depending on oxygen needs. CMED plans to launch a sales and marketing campaign for FreshAir, through its subsidiary, BioMed Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 , Inc. ("BioMed"). BioMed has built a sales organization for sales to healthcare organizations of Y2K products and services. It is fully staffed with medical sales and support personnel to implement the FreshAir program. The FreshAir system will be marketed to large nursing home network corporations and individual nursing homes with a population of 20 or more patients on respiratory care. FreshAir may be purchased or leased on a monthly basis, depending on the needs of the nursing home. FreshAir may be sold in other markets where opportunities are identified. John Atanasoff John Atanasoff - John Vincent Atanasoff , 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 Colorado MEDtech, stated, "We are pleased to get 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. approval for the FreshAir system. We will aggressively sell this product in all markets where an opportunity exists." Colorado MEDtech, Inc., through its wholly-owned subsidiaries and operating divisions, is a leading full-service provider of advanced medical products and comprehensive outsourcing services. 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. Statements in this news release which are not historical facts are forward-looking statements subject to risks and uncertainties which could cause actual results to differ materially from those set forth in or implied by forward-looking statements, including, but not limited to the risk that FreshAir, as a new product, will not be accepted in the market at a level sufficient to positively impact operating results and the risk that a downturn in general economic conditions or customer budgets may adversely affect capital expenditure budgets of potential customers upon which the Company is dependent. These factors are more fully described in the Company's filings with the Securities and Exchange Commission, including its Form S-3 and its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended June 30, 1998, copies of which the Company will provide on request. |
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