Distributor Invests $2 Million in Applied Imaging
SANTA CLARA, Calif., Nov. 4 /PRNewswire/ -- Applied Imaging Corp.
(Nasdaq: AICX) today announced that it signed an exclusive multi-year
distribution agreement with Technicas Medicas MAB, S.A., a major medical
distributor in Spain, for all Applied Imaging products including both
cytogenetic instrumentation as well as the MDS(TM) (Micrometastasis Detection
System). Technicas Medicas is a key-medical distributor in Spain that
currently distributes microscopes, image analysis systems and is specializing
in the newest technology in cell and molecular analysis. In addition, a
separate agreement was executed for Technicas Medicas MAB and two other
qualified investors to make a private investment in Applied Imaging to
purchase 1 million shares of the Company's common stock at $2.00 per share.
"We are extremely pleased to announce the first agreement to distribute
the new MDS(TM) (Micrometastasis Detection System)," said Jack Goldstein,
Chairman and C.E.O. "The purchase of Applied Imaging shares by Technicas
Medicas speaks to their confidence in the MDS and our Company. This
partnership is a superb fit because both companies are committed to bringing
this cutting-edge technology to the marketplace throughout Spain."
"Technicas Medicas," continued Goldstein, "is one of the most successful
Spanish medical distributors and has developed a strategy to expand its
presence in the field of genetics and cancer. In this regard the addition of
the Applied Imaging product line including MDS will strongly augment their
portfolio in this segment and place them on the forefront of new technology in
cancer micrometastasis."
Applied Imaging Corporation, based in Santa Clara, California, develops,
manufactures, and markets automated clinical analysis systems used by
laboratories for cancer and prenatal genetics. The Company markets its
products worldwide and has more than 1600 instruments at 800 customer sites in
over 35 countries. Applied Imaging is a publicly traded company listed on the
Nasdaq Stock Market under the Symbol AICX.
Techincas Medicas MAB, S.A. is a 35 year-old Spanish company specializing
in the implementation and distribution of new technology in the health care
market. The company distributes products into the medical laboratory and
hospital markets, the dental market and the industrial medical market in Spain
and Portugal.
For additional information on Applied Imaging via fax, please dial
1-800-PRO-INFO, (732-544-2850 outside of the U.S.), code AICX.
SOURCE Applied Imaging Corp.
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CONTACT:
Mike Braden, Corporate Controller of Applied
Imaging Corp., 408-562-0250; or General, Traci McCarty, or
Investors, Janet Nelson, 415-986-1591, both of The Financial
Relations Board for Applied Imaging Corp.
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