Colorado MEDtech Inc. recalls new bacterial filter.BOULDER Boulder, city, United States Boulder, city (1990 pop. 83,312), seat of Boulder co., N central Colo.; inc. 1871. A Rocky Mountain resort and a suburb of Denver, it is the seat of the Univ. of Colorado (1876). , Colo.--(BUSINESS WIRE)--Sept. 15, 1995--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 recalled a filter product, VenShield(TM) -- a Heat and Moisture Exchange (HME HME Home Medical Equipment HME Home Media Engine (TiVo) HME Heat and Moisture Exchange HME Hierarchical Mixtures-of-Experts HME Happy Meal Ethernet (UNIX driver) HME Honeymoon Experience ) bacterial filter. The company shipped initial orders of the filter to several hospitals in June 1995 and was in low rate initial production. As a result of the initial use of this filter, potential problems were identified which made it necessary to stop production until more testing and design improvements can be incorporated. "We believe we have identified some potential solutions to this filter application," said John V. Atanasoff, Colorado MEDtech chairman 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. . "We will implement the necessary changes, test them, obtain the necessary approvals and we are confident we will be back in production in the very near future." Since the product was in very early production, sales of the product were less than 3% of the company's monthly revenues. Management does not expect the recall to materially affect the company's earnings. CONTACT: Colorado MEDtech Inc., Boulder John V. Atanasoff or Bruce L. Arfmann, 303/530-2660 Fax: 303/581-1010 bla@rela.uucp.netcom.com |
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