Norland Medical Systems, Inc. announces agreement with Rockford Industries to underwrite Norland's new finance arm.WHITE PLAINS, NY--(BUSINESS WIRE)--September 25, 1996--NORLAND MEDICAL 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 NM Symbol: NRLD) announced today that it has signed an agreement with Rockford Industries, Inc. (Nasdaq NM Symbol: ROCF ROCF Rosicrucian Order Crotona Fellowship ) whereby Rockford will underwrite and manage Norland Capital, a new program created by Norland to offer "one-stop financing" to its U.S. customers seeking financing for the purchase of Norland bone densitometers. Financial products available to Norland customers will include customized leasing, financing and Cost Per Test services with no money down. Rockford will administer the various programs and assume all potential credit risks. Reynald Bonmati, Chairman and President of Norland Medical Systems, Inc. stated, "We are optimistic about our new relationship with Rockford as our financing partner in the Norland Capital program. By providing attractive financing and leasing options to our customers through Norland Capital, we will speed up the buying cycles of our customers and increase sales penetration. We look to provide turnkey solutions for our customers and having a formalized for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. finance plan rounds off our entire product offering. Rockford brings true `value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services' to our business and allows us to grow using creative financial products without taking on additional credit risk or exposure." Gerry Ricco, President of Rockford Industries, stated, "We are very pleased with our new relationship with Norland. We have enjoyed good success in the past providing financing to the booming Bone Densitometry bone densitometry (bōnˑ den·si·t marketplace and we consider Norland to be a key strategic alliance. Our trademarked `Cost Per Test' program is an ideal selling tool for Norland's products and will be a featured product offered through Norland Capital." Rockford Industries, Inc. is a leading specialty finance company, providing equipment financing and related services primarily to the healthcare industry and, more recently, targeted commercial and industrial customers. Norland Medical Systems, Inc. markets, sells and services bone densitometers used to aid in the diagnosis and monitoring of osteoporosis and other bone disorders. The Company has rights to exclusive worldwide distribution and service of all current and future medical diagnostic products developed and manufactured by Norland Corporation and Stratec Medizintechnik GmbH. The Company's wholly-owned subsidiary, Dove Medical Systems, Inc., also manufactures, markets, sells and services such bone densitometers. CONTACT: Norland Medical Systems Inc. Reynald Bonmati President 914/694-2285 or Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: John Heilshorn Lippert/Heilshorn 212/838-3777/ext. 104 JOHN@SMTP (Simple Mail Transfer Protocol) The standard e-mail protocol on the Internet and part of the TCP/IP protocol suite, as defined by IETF RFC 2821. SMTP defines the message format and the message transfer agent (MTA), which stores and forwards the mail. .LHAI.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. |
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