Criticare Systems Inc. and Advanced Medical Inc. sign exclusive distribution agreement.MILWAUKEE--(BUSINESS WIRE)--Jan. 7, 1997-- Partnership Provides New Product Innovations and Economies of Scale Criticare Systems 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 :CXIM), a developer, manufacturer and marketer of medical monitoring equipment, and Advanced Medical Inc. today announced the signing of an exclusive supply and distribution agreement for sales of select vital signs monitoring products in the U.S. hospital market and Canada. The agreement combines Criticare's expertise in the design and development of multi-parameter vital signs monitors with the extensive U.S. and Canadian sales network established through the recent merger of Advanced Medical's IMED IMED International Medical Education Directory Corp. subsidiary with IVAC IVAC Islington Voluntary Action Council (England, UK) IVAC Insert Valid Access Card (satellite TV hacking) IVAC International Video & Audio Convention IVAC Idle Air Control Valve Medical Systems Inc. Advanced Medical is currently partnering with Criticare in the development of several products which combine the company's electronic thermometer technology into several key Criticare patient monitoring systems. The signing of this supply and distribution agreement initiates the next step in bringing these new products to the market and provides Advanced Medical with a broad range of patient monitors. "In health care today, patients are moved out of intensive care units more rapidly, thereby creating the need for advanced bedside monitoring in general care areas of the hospital," said William J. Mercer, Advanced Medical Inc. 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. . "This collaboration will allow both companies to offer their customers fully integrated monitoring systems which provide information on a patient's oxygen saturation oxygen saturation sO2 The O2 concentration of blood expressed as a ratio of its total O2-carrying capacity; the OS is a measure of the utilization of O2 transport capacity; sO2 , blood pressure, respiration rate respiration rate n. Frequency of breathing, expressed as the number of breaths per minute. , cardiac rhythm Noun 1. cardiac rhythm - the rhythm of a beating heart heart rhythm regular recurrence, rhythm - recurring at regular intervals atrioventricular nodal rhythm, nodal rhythm - the normal cardiac rhythm when the heart is controlled by the and temperature." "Our collaboration with IMED-IVAC through Advanced Medical represents an important step in our transition into the new medical environment," stated Gerhard Von der Ruhr, Criticare president and CEO. "Our engineering excellence combined with Advanced Medical's established sales force will allow us to reach a broader customer base." Advanced Medical Inc. is a global leader in infusion systems. The company's principal line of business is the design, manufacture and marketing of intravenous infusion therapy products, vital signs instruments and related disposables. Advanced Medical's products are distributed in more than 120 countries worldwide. In addition to its San Diego world headquarters and manufacturing facility, the company also operates manufacturing facilities in Creedmore, N.C., Baskingstoke, Hampshire, U.K., and Tijuana, Mexico. Criticare Systems Inc. designs, manufactures and markets cost-effective patient monitoring systems and non-invasive sensors for a wide range of hospitals and alternate health care environments throughout the world. Statements in this news release which are not historical facts, including statements about expectations regarding market acceptance, are forward-looking statements that involve risk and uncertainties. Risk factors, including without limitation changes in the market and competition, are detailed in the Securities and Exchange Commission filings of Criticare Systems Inc., Advanced Medical Inc. and IVAC Medical Systems, particularly their respective 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. filings for the year ended Dec. 31, 1995. CONTACT: Criticare Systems Inc. Gerhard Von der Ruhr, 414/798-8282 or CCRI CCRI Community College of Rhode Island CCRI California Civil Rights Initiative CCRI Central Cotton Research Institute (Pakistan) CCRI Columbus Children's Research Institute CCRi Children's Clinical Research Institute Corp. Malcolm McGuire, 800/828-0406 |
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