Health & Fitness
Health and Fitness
Health and Fitness
Wed, January 12, 2011
Tue, January 11, 2011
INDIANAPOLIS--([ BUSINESS WIRE ])--Positron Corporation (OTCBB:POSC), a leading molecular imaging company specializing in the field of nuclear cardiology, today issued a shareholders letter, which will be posted to its website.
The text of the letter follows:
January 11, 2011
Dear Shareholders,
Positron Corporation has made great progress in achieving its objectives for 2010. During the past 12 months, we focused our attention on strengthening our position in the marketplace by providing state-of-the-art technology that meets the marketsa™ demand in molecular imaging and by offering innovative solutions that serve the growing nuclear cardiology field.
Most notable has been sales of our Attrius® PET system which met projected sales with 15 systems sold and also our research and development efforts have successfully yielded new products that we expect will revolutionize the radiopharmaceutical distribution process.
Positrona™s priority for 2010 was to establish the Company as a leader in the emerging PET industry - focusing on initiatives to capture market share and complete development of new products, thus setting the foundation for long-term growth.
As a result, several key developments and milestones were achieved during 2010, including:
- Launch of Attrius® a" the only FDA approved standalone, dedicated PET scanner optimized for cardiac imaging;
- Attrius® named aMost Innovative Device of 2010a by Frost & Sullivan;
- Signed co-development agreement with Covidien to develop technology for an innovative distribution model of radiopharmaceuticals based on a customized Positron device;
- Completed initial development of Cardio-Assista" - Positrona™s proprietary automated compounding and unit dose dispensing device;
- Acquired pharmaceutical manufacturing facility for development of radiopharmaceuticals and contract manufacturing;
- Received two U.S. patents for Positrona™s proprietary technologies a" with additional patent filings pending; and,
- Significantly improved the Companya™s balance sheet, ending the year effectively debt free.
The ability to introduce new products and significantly grow sales is a testament to our long-held strategy of delivering innovative technology and executing a focused plan that allows Positron to command the marketplace and the transition to cardiac PET technology - which further differentiated Positron from any company in the industry.
Moving forward in 2011, we are looking to build on these milestones and execute its plan to be the leader in the molecular imaging industry.
Strategic initiatives include:
- Increase sales of Attrius® PET systems a" projected sales of approximately 40 systems;
- Launch and deployment of Cardio-Assista" - commercial version to be introduced at American College of Cardiology Annual Conference this April a" with projected installs to be determined based on corporate and partnership targeted sites;
- Accelerate pharmaceutical growth plans a" aggressively pursue the production, manufacturing and marketing of complementary imaging radiopharmaceuticals;
- Expansion of sales force a" domestically and internationally, with an immediate focus on the western United States and Canada;
- Further facilitate sales by offering private label financing of our systems for our customers;
- Explore new applications and markets that advance our PET imaging systems, radiopharmaceutical dispensing systems, and proprietary IP; and,
- Continued progress toward our goal of imaging and pharmaceutical diversification - pursue relationships with companies having a strategic presence that will allow Positron to engage in more robust and rewarding business development opportunities.
We are excited about the opportunities in the year(s) ahead for Positron. Our pathway and optimism is fueled by our understanding that the catalyst behind growth in the nuclear cardiology field is driven by innovation and execution a" concepts that have been at the forefront of our efforts since day one. With that in mind, we will continue to take steps towards expanding our market, and, when appropriate, will work with select partners on a broader range of products and applications.
Looking ahead to 2011 and beyond, we see strong demand for our products and expect to grow revenue and market share to levels indicative of Positrona™s emerging leadership in the industry.
I would like to offer my sincere thanks to all our employees, customers, and shareholders for their tremendous ongoing support. We look forward to updating you on our progress toward achieving our goals.
Sincerely,
Patrick G. Rooney
Chief Executive Officer
About Positron: Positron is a molecular imaging company focused on Nuclear Cardiology. Positron utilizes its proprietary product line to provide unique solutions to the Nuclear Medicine community ranging from imaging to radiopharmaceutical distribution. Positron products include: the Attrius®, a PET imaging device; the Pulse®, a SPECT imaging device; the Nuclear Pharm-Assist®, an automated radiopharmaceutical distribution device; and the Tech-Assista", a radiopharmaceutical injection shield. More information about Positron is available at [ www.positron.com ].
Forward Looking Statements: Statements in this document contain certain forward-looking statements within the meaning of Section27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance and may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Positron Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission.
For further information please contact Positron Corporation at (317)576-0183.
