Criticare Systems Announces Five-Year Extension of OEM Agreement With Alaris.MILWAUKEE--(BUSINESS WIRE)--March 12, 1999--CRITICARE SYSTEMS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ-NMS:CXIM) announced today a major five-year extension of its existing OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and agreement with Alaris Medical. The present agreement, which addresses a product that combines Criticare's pulse oximetry pulse oximetry Oxygen saturation measurement, SaO Critical care A method used to determine the O2 saturation–SaO2 and desaturation of blood in a continuous noninvasive fashion, through the noninvasive assessment of arterial Hb-bound and blood pressure technologies with Alaris' temperature technology, has generated significant revenue for both firms. The new agreement opens up the possibility of adding more products to this OEM pipeline. Emil Soika, Criticare 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. , summed up the agreement by saying, "This is a mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" relationship which both companies are committed to growing. By aligning Criticare with the extensive sales network of Alaris, the company retains access to a broad market segment which will allow us to focus our resources on further product innovation." Soika further commented, "Strengthening the OEM portion of Criticare's business is a major component of our new strategic initiative. Our goal is to leverage our proprietary technologies, which include wireless communication and vital signs sensory systems Noun 1. sensory system - a particular sense sense modality, modality sensory faculty, sentiency, sentience, sense, sensation - the faculty through which the external world is apprehended; "in the dark he had to depend on touch and on his senses of smell and . These technologies represent our core competencies, and we are committed to maximizing their market potential through OEM partners such as Alaris Medical." Criticare's management is following a program of planned, profitable, and rapid growth which is designed to capture the confidence of our shareholders and the investment community. Criticare Systems, Inc., designs, manufactures and markets cost-effective patient monitoring systems and noninvasive sensors for a wide range of hospitals and alternate health care environments throughout the world. This press release contains 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. . Such statements refer to the company's beliefs and expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described. Such uncertainties include, but are not limited to, the ability to negotiate new OEM contracts, the ability to maintain and add profitable revenues, the timely completion of new products, the risk of new and better technologies, as well as general conditions in the company's markets. |
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