ELECTROMEDICS LAUNCHES OPERATION IN FRANCE
/REPEATING FOR POINTS NEEDED/ ENGLEWOOD, Colo., March 4 /PRNewswire/ -- Electromedics Inc.
(NASDAQ-NMS: ELMD) has opened a direct sales office in Strausburg, France to market the company's medical products. This will complement the company's administrative, direct sales and service office started last year in Frankfurt, Germany. The company's products will be supplied out of its German distribution center in Frankfurt.
"We are excited to expand our presence in Europe, which could equal the U.S. demand for autologous blood products. Sales activity in Germany is exceeding our initial projections. We are also optimistic about our French operations," said F. James Lynch, chairman and chief executive officer of Electromedics. "This is a big step in our long- term growth strategy of expanding our international market penetration. In 1992, international sales grew 43 percent compared to 26 percent growth in 1991. We expect international sales growth will exceed 50 percent in 1993 as a result of sales generated by these office openings." In February, France announced that it will reimburse for autotransfusion, and the French Transfusion Agency has recommended that all surgical hospitals adopt autotransfusion usage. This should enhance the demand for Electromedics' products in that country. Dr. Peter Geigle, M.D. is the managing director of Electromedics' French and German operations. Prior to joining Electromedics in 1992, Geigle participated in the world's first heart transplant procedure using only autologous blood and is a German citizen. Electromedics designs, manufactures and markets medical equipment and associated disposable devices focusing on blood management, blood conservation and monitoring of temperature. Its products are sold to more than 1,000 hospitals and medical centers throughout the United States and in 30 countries. Headquarters and manufacturing facilities are based in Englewood. -0- 3/4/93 /CONTACT: Wayne Brown of Carl Thompson Associates, 303-494-5472, for Electromedics/ (ELMD)
CO: Electromedics Inc. ST: Colorado IN: MTC SU:
MC -- DV002 -- 3272 03/05/93 01:50 EST
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|Date:||Mar 5, 1993|
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