Positron Enters Long Term Cooperation Agreement with Neusoft Medical Systems for the Development and Distribution of Positron’s State of the Art PET/CT System in North America.
Niagara Falls, NY – January 18, 2022 (GLOBE NEWSWIRE) - Positron Corporation (“Positron” or the “Company”) (OTC: POSC), a nuclear medicine PET imaging company specializing in the field of cardiac Positron Emission Tomography (“PET”) imaging systems and clinical services, is pleased to announce today that the Company has entered into a strategic business relationship with Neusoft Medical Systems for manufacturing, distribution, and continued R&D advancements of Positron’s new PET/CT nuclear imaging device.
Positron, in collaboration with Neusoft, will submit a new device 510K application with the FDA for the certification of Positron’s PET/CT nuclear imaging system. Positron’s PET/CT system is based on the current NeuWise PET/CT system.
The scope of the Positron/Neusoft agreement is to further develop the utilization of its PET/CT technology and services for nuclear cardiology while expanding into the field of oncology imaging diagnostics and clinical services. The U.S. is the largest total addressable market for both cardiology and oncology fields and will continue to be Positron’s primary focus, however expansion into Canada and Mexico are parts of the Company’s future which are both sizable opportunities.
As part of the Positron/Neusoft agreement, the Company has ordered its new PET/CT system for validation testing with one or more nuclear cardiologist that are champions in this area of expertise. This validation will be in parallel with an FDA submission set to begin in the second quarter of 2022. The Company has also purchased all current Attrius PET system inventory and components and anticipates installations of multiple systems with new customers in 2022.
Adel Abdullah, President of Positron stated: “We are very pleased to have the right partners and superior technology and services which enables us to take the most important step in the Company’s history. The collaboration with Neusoft has been in the works for some time with both parties very pleased with the agreement and eager to begin. Positron’s ability to offer a state-of-the-art PET/CT system is paramount to Positron’s significant impact on the future of cardiology and the Company’s expansion into greater services and oncology diagnostics. Offering our PET/CT systems simply delivers the best imaging technology for both the nuclear cardiology and the broader oncology markets.”
About Positron Corporation
Positron Corporation is a nuclear medicine PET imaging company specializing in the field of cardiac Positron Emission Tomography imaging - the gold standard in cardiac diagnostics. Positron’s innovative PET technology, clinical services and practice solutions enables healthcare providers to more accurately diagnose coronary artery disease and improve patient outcomes while practicing cost effective medicine. Positron's PET only system, market position and approach in facilitating the adoption of cardiac PET are substantial advantages to the growth of the market and Positron. Positron will soon offer a state-of-the-art PET/CT imaging device that will enable nuclear cardiologists to utilize the full power of nuclear imaging. This same PET/CT device allows Positron to address and meet the needs and demand of the vast oncology diagnostics marketplace.
About Neusoft Medical System
About Neusoft Medical Systems: Neusoft Medical is a leading global clinical diagnosis and treatment solution provider. Neusoft Medical Constantly innovates its portfolio of medical imaging diagnosis and clinical solutions in CT, MRI, DSA, XR, US, PET/CT RT and IVD. Neusoft Medical also is developing MNaaS (medical devices & Data as a Service), a strategic product line built using the internet, big data, artificial intelligence, combined with other technologies to improve medical institution’s ability to diagnose and treat patients, driving productivity and efficiency for operational excellence.
With 41,000 installations in more than 110 countries, Neusoft Medical offers advanced medical imaging solutions and high-quality care to patients and healthcare providers around the world.
Neusoft Medical is dedicated to becoming an excellent value innovator of global healthcare services. Through innovation and excellent operations, Neusoft Medical Systems is advancing healthcare products across a wide range of medical solutions and services to enhance global healthcare to all.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Positron Corporation, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.