Colorado MEDtech, Inc. and Hitachi Medical Corporation Join Forces to Enhance Hitachi's STRATIS II.BOULDER, Colo.--(BW HealthWire)--April 21, 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 ) announced that it has signed a design and development agreement with Hitachi Medical Corporation (HMC HMC Harvey Mudd College (Claremont, CA) HMC Harborview Medical Center (Seattle, Washington) HMC Hosted Messaging and Collaboration HMC Hoffman Modulation Contrast ), Tokyo, Japan, whereby CMED will provide hardware and software enhancements for the Hitachi to STRATIS STRATIS Storage Retrieval Automated Tracking Integrated System (USMC) II short-bore, high-field magnetic resonance (MR) system. The combined R&D effort will add state-of-the-art capabilities such as high-power, high-speed gradients, rapid imaging techniques and the latest cardiac applications. CMED and HMC will coordinate their development effort through Hitachi Medical Systems America, Inc. (HMSA HMSA Hawaii Medical Service Association HMSA Hypermobility Syndrome Association HMSA Hitachi Medical Systems America, Inc. HMSA Health Manpower Shortage Area HMSA Hmong Minnesota Student Association HMSA Humane Methods of Slaughter Act of 1958 ) of Twinsburg, Ohio, which is responsible for marketing, selling and servicing of Hitachi MR products in the U.S. marketplace. HMSA markets the highly successful AIRIS(R) 0.3 Tesla open-air permanent magnet MR imaging system. Sheldon Schaffer, Vice President of Marketing for HMSA, stated, "We are looking forward to working with CMED in developing an enhanced STRATIS II product which meets the needs of the U.S. medical imaging community today and in the future. We appreciate that a portion of this marketplace demands higher field systems and we are anxious to more aggressively expand our reputation for high-quality products and unsurpassed customer support into this market segment." "This is a major expansion of our MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. activities and we are pleased with the confidence Hitachi has expressed in CMED in awarding this development contract," said John V. Atanasoff, Colorado MEDtech's President 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. . Colorado MEDtech, Inc., through its wholly-owned affiliates and operating divisions, is a leading full-service provider of advanced medical products and comprehensive outsourcing services for medical device and pharmaceutical companies. HMC is one of the group of companies of Hitachi, Ltd., and a worldwide leader in the development, manufacture, distribution and service of a wide variety of diagnostic imaging systems. This press release may contain forward-looking statements that involve a number of risks and uncertainties. The Company's future results could differ materially from the results identified or implied by any forward-looking statement. These factors are more fully described in the Company's Form 10-K filed with the Securities and Exchange Commission for the year ended June 30, 1998, copies of which the Company will provide on request. |
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