Versus Technology Announces Agreement with Marquette Medical; Marketing Agreement Strengthens Distribution of Versus' Infrared Locating System.TRAVERSE CITY Traverse City, city (1990 pop. 15,155), seat of Grand Traverse co., N Mich., at the head of the West Arm of Grand Traverse Bay, in a resort and cherry-growing region; inc. 1881. , Mich.--(BW HealthWire)--May 18, 1998-- Versus Technology, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :VSTI VSTi Virtual Studio Technology Instrument VSTI Vehicle Signature Test Instrumentation ) announced today that it has entered into a new marketing agreement with Marquette Medical Systems (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 :MARQ MARQ Mobility Assisted Resolution of Queries MARQ Mileage and Rate Quote ) to sell Versus' infrared locating systems to the acute care hospital market. The one-year agreement provides $1.75 million in revenue for Versus. The Traverse City, Michigan-based developer and manufacturer of proprietary infrared (IR) locating systems for hospitals, government facilities and other organizations said the agreement gives Marquette non-exclusive marketing rights of Versus' product. In addition to the expected revenue, the agreement offers Versus additional product exposure and the opportunity for incremental revenue based on sales generated by this leading manufacturer of medical electronics equipment and systems. "We are excited to build on our relationship with Marquette Medical Systems as we work together to continue to grow our presence in the healthcare information systems and equipment market," said Gary Gaisser, Versus Technology, Inc.'s president and chief executive officer. "This agreement represents significant revenue for our Company and a positive extra step in our relationship with Marquette." "We believe our proprietary infrared locating technology will help Marquette to continue to grow while allowing us the opportunity to further expand our reseller channel so that we can reach beyond our base of direct customers," Gaisser added. The new marketing agreement between Versus Technology and Marquette Medical Systems continues a relationship that began in June 1996 when Marquette became the first reseller of Versus' infrared locating technology. The agreement announced today continues Marquette's non-exclusive right to market Versus' proprietary infrared locating technology under the brand name IntelliMotion(TM). Marquette has implemented the IntelliMotion(TM) system within several medical installations, including Baylor University Medical Center Baylor University Medical Center (BUMC) is located at 3500 Gaston Avenue in east Dallas, Texas (USA). Its medical services are often listed in the annual U.S. News & World Report compilation of Best Hospitals. in Dallas, Brigham and Women's Medical Center in Boston and St. Vincent's Hospital Hospital:
"The reseller distribution channel is an important part of our sales and marketing efforts and will be instrumental as we introduce new healthcare applications for our infrared locating technology," said Henry J. Tenarvitz, executive vice president of operations for Versus Technology. "An example will be our planned launch of Versus' next generation locating badge. Marquette and our entire network of resellers will have access to this product and will provide an invaluable sales and marketing function that will support the successful launch of this product." Marquette Medical Systems, Inc., headquartered in Milwaukee, Wisc., is a leading manufacturer of medical electronics equipment and systems for diagnostic cardiology, patient monitoring and integration of clinical information. Additional information is available at the company's web site at http://www.mei.com. Versus Technology, Inc. (http:www.versustech.com) is the leading innovator in infrared locating technology, which offers real-time locating and two-way communication Two-way communication is a form of transmission in which both parties involved transmit information. Common forms of two-way communication are:
The information provided in this press release may include forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future events, such as the development of new products, the commencement of production, or the future financial performance of the Company. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the rate of growth of the infrared location industry, increased competition in the industry, delays in developing and commercializing new products, adequacy of financing and other factors described in the Company's most recent Annual Report on 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. filed with the Securities and Exchange Commission which can be reviewed at http://www.sec.gov. CONTACT: Versus Technology, Inc. Gary Gaisser, 616/946-5868 or Seyferth & Associates, Inc. Jeff Lambert, John Lambert, John, 1619–83, English parliamentary general. He fought in the first civil war (1642–46) and assisted Henry Ireton in drawing up the Heads of the Proposals in 1647. Vonder Haar, 800/435-9539 SeyferthPR@aol.com |
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