Printer Friendly

SOPHA/CEA-I FORM STRONGER ALLIANCE IN NUCLEAR MEDICINE

 COLUMBIA, Md., March 31 /PRNewswire/ -- Sopha Medical S.A., located in Buc, France, announced today that their shareholders have agreed to provide the company with a substantial capital increase to support continued growth and product development.
 "I am pleased to confirm that the shareholders of Sopha Medical S.A. have agreed to a capital increase of approximately $20 million for the company," stated Colin McNaught, president and CEO of Sopha Medical Systems, Inc. (SMS), the U.S. subsidiary. "The majority of this capital," continued McNaught, "will be provided by CEA- Industrie, a major financial partner with Sopha since 1991, who will now hold approximately 80 percent of the company's shares." The remaining 20 percent of the shares will be held by various French banks including the BNP and the CIC.
 CEA-I is the for-profit industrial division of the French Atomic Energy Commission that owns many successful industrial companies worldwide and employs 37,000 people. In 1991, the industrial giant achieved $7 billion in revenues and a net income of more than $200 million. "The partnership of Sopha Medical and CEA dates back to 1985," explained McNaught, "when the industrial concern first entered the capital structure of the company." Additionally, LETI, CEA's research division, will continue its technological partnership with Sopha in the development of future nuclear medicine gamma camera technology. This latest strategic move provides Sopha with the capital and financial resources of a significantly larger business concern.
 "The continued investment of CEA-I in Sopha Medical is a strong testament to the company's growth potential," emphasized McNaught, whose U.S. operation, SMS, recently posted its most successful year ever.
 In 1992, SMS increased its order entry and market share by 60 percent compared with 1991. The company also has achieved the highest backlog in its history. "SMS has dominated the nuclear medicine computer market since 1988 following the introduction of its line of sophy computers," said McNaught. Shortly thereafter, the company expanded its product offering to gamma cameras and today enjoys primary positions in both market segments.
 "With a very positive worldwide response to our sophycamera DST, the first-ever variable angle, dual-head gamma camera, Sopha is well positioned to achieve its goal of becoming the world's leading supplier of nuclear medicine imaging systems. The financial and technological strength of CEA-I," concluded McNaught, "will ensure that Sopha reaches that goal."
 -0- 3/31/93
 /CONTACT: Suzanne Ugast, communications department, Sopha Medical Systems, Inc., 410-312-2616/


CO: Sopha Medical S.A.; Sopha Medical Systems, Inc.; CEA-Industrie ST: Maryland IN: MTC CPR SU:

MH-DC -- DC009 -- 1429 03/31/93 10:50 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 31, 1993
Words:428
Previous Article:CEI TO HOST SPRING MULCH SALE
Next Article:CUSTOMERS ADVOCATE AS/400 AS CLIENT SERVER OF CHOICE
Topics:


Related Articles
MALLINCKRODT MEDICAL TO PRODUCE CARDIOLOGY PRODUCTS FOR MARKETING BY MEDTRONIC'S INTERVENTIONAL BUSINESS
IMMUNOMEDICS' CEA-SCAN UNANIMOUSLY RECOMMENDED FOR U.S. APPROVAL BY FDA PANEL
IMMUNOMEDICS AND MALLINCKRODT SIGN U.S. MARKETING AND DISTRIBUTION AGREEMENT FOR CEA-SCAN
IMMUNOMEDICS' CEA-SCAN IDENTIFIED COLORECTAL CANCER IN 61% OF PATIENTS IN WHOM CONVENTIONAL TESTS FAILED
IMMUNOMEDICS' CEA-Scan RECOMMENDED FOR EUROPEAN APPROVAL
NEW CANCER DETECTION AGENT CLEARED BY FDA
Immunomedics' Investigators Publish Phase III Results Of New Detection Test For Colorectal Cancer
Immunomedics Gains Approval to Market CEA-Scan(R) Cancer Imaging Test in Canada
New Nuclear Imaging Study Helping Surgeons To Pick Up, Remove Hidden Tumors In Bowel-Cancer Patients ... Increasing Chance For A Cure
Immunomedics Reports Clinical Trial Results for Potential New Test for Breast Cancer.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters