Colorado MEDtech, Inc. Enters Into High-Volume Manufacturing Alliance With Teledyne's Advanced Manufacturing Technologies Unit.Business Editors/Health & Medical Writers BOULDER, Colo.--(BW HealthWire)--May 6, 2002 Colorado MEDtech, Inc. (Nasdaq:CMED CMED Coordinated Medical Emergency Direction CMED Central Massachusetts Emergency Dispatch ), a provider of advanced medical technology outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. services and medical imaging products, announced today that it has entered into an alliance with Teledyne's Advanced Manufacturing Technologies unit located in Lewisburg, Tennessee Lewisburg is a city in Marshall County, Tennessee, United States. The population was 10,413 at the 2000 census. It is the county seat of Marshall CountyGR6. Lewisburg is located in central Tennessee, south of Nashville. . Under the exclusive alliance, the Advanced Manufacturing Technologies unit will provide high-volume manufacturing services to Colorado MEDtech. Colorado MEDtech will continue to focus on its core business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets which include medical device design and development services, and pre-production and low-volume medical manufacturing. "This alliance is a strategic extension of Colorado MEDtech's core capabilities and is intended to offer our clients competitive, high-volume manufacturing solutions," said Stephen K. Onody, 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. and Chairman of Colorado MEDtech. "Teledyne's 30 years of experience in high-volume and low-cost advanced electronics manufacturing This article presents a typical manufacturing process of an electronic assembly. Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors. offers our clients seamless, high-quality alternatives to support their time-to-market requirements. This alliance gives Colorado MEDtech access to clients in a segment of the medical outsourcing market in which we have not historically competed. We believe that this access will serve to grow both of our businesses." "We are very pleased to have formed this alliance with Colorado MEDtech," said Don Woods
Colorado MEDtech, Inc. is the full-service OneSource OutSource(TM) provider of advanced medical technology outsourcing services, including device and disposables development, software, medical device connectivity, manufacturing, system components for medical imaging and ultrasound ultrasound or sonography, in medicine, technique that uses sound waves to study and treat hard-to-reach body areas. In scanning with ultrasound, high-frequency sound waves are transmitted to the area of interest and the returning echoes recorded accessories. Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the United Kingdom and Mexico. For more information, visit Teledyne Technologies' website at www.teledyne.com. 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. The statements in this news release that are not historical facts are forward-looking statements that represent management's beliefs and assumptions based on currently available information. Forward-looking statements can be identified by the use of words such as "expect," "believes," "intends," "estimates," "may," "will," "should," "anticipated," "expected" or comparable terminology or by discussions of strategy. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot assure that these expectations will prove to be correct. Such statements involve risks and uncertainties including, but not limited to, the risk that the Company's existing level of orders may not be indicative of the level or trend of future orders, the risk that the Company may not successfully complete the work encompassed by current or future orders, the risk that unforeseen technical or production difficulties may adversely impact project timing and financial performance, the risk of an adverse result in pending or potential litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , the risks associated with regulation by the Federal Food and Drug Administration including compliance with the Quality System Regulation, the risk that acquired companies cannot be successfully integrated with the Company's existing operations and the risk that a downturn in general economic conditions or customer budgets may adversely affect research and development and capital expenditure budgets of potential customers upon which the Company is dependent. Should one or more of these risks materialize (or the consequences of such a development worsen wors·en tr. & intr.v. wors·ened, wors·en·ing, wors·ens To make or become worse. worsen Verb to make or become worse worsening adjn ), or should the underlying assumptions prove incorrect, actual results could differ materially from those forecasted or expected. These factors are more fully described in the Company's documents filed from time to time with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update publicly or revise such statements whether as a result of new information, future events or otherwise. |
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