Positron Corporation Announces Attrius® PET System Sale

Rhea-AI Summary

Positron welcomes a prominent cardiovascular practice in California as a new customer utilizing Positron's Attrius PET System and services. The company anticipates entering five more Attrius Lease to Own/Services agreements by year's end. Positron's PET Lease to Own & Services Program offers a complete package with zero upfront capex expense, providing a viable operational model for nuclear imaging PET practices. The company aims to provide hospitals and private practices with the best technology, services, and solutions to meet customer needs.

Niagara Falls, NY, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Positron Corporation (“Positron” or the “Company”) (OTC: POSC), a leading molecular imaging medical device company offering PET imaging systems and clinical services, is pleased to welcome a prominent cardiovascular practice in California as a new customer utilizing Positron’s Attrius® PET System and services. Positron will install the Attrius in the coming months concurrent with the facility’s expansion. 

Positron is the only company in the industry offering a dedicated PET scanner optimized for nuclear cardiology. The Attrius is a 2D quantitative PET scanner that provides robust high-resolution images that complements coronary flow reserve software to produce accurate measurements of absolute blood flow.

This transaction is the introduction of the Company’s PET Lease to Own & Services Program, where customers pay one price for a complete package which includes an Attrius PET System and the full scope Clinical & Technical Services.  The Program spans over a 5-year term which once completed the customer has the option for a full-services only package for an additional 5 years or more at a discounted set price. This Program has zero upfront capex expense which provides a most viable operational model for nuclear imaging PET practices seeking the PET modality. Positron anticipates entering an additional five (5) Attrius Lease to Own/Services agreements by year’s end.   

Adel Abdullah, President of Positron stated, “We are pleased to be part of our customers evolution from SPECT to cardiac PET imaging. Our Attrius PET is a tremendous tool for advanced cardiac studies and diagnostics, and we are excited for our customers to take full advantage of the capabilities of our Attrius PET, services, training, and innovative new lease to own program. Our objectives are 100% in-line with our physicians and practices in providing  the best quality medical care,  which we achieve through Positron’s PET technology and equally important clinical services at a favorable price point. Our clinical team provides expert assistance necessary to assure that our customers receive the full benefits of the Attrius PET system and quantification software. Positron’s Attrius dedicated PET system and services provides nuclear imaging practices the best value through the combination of high technology and  cost-effective imaging solutions.

Nuclear imaging is in demand and expanding. We look forward to playing our part by providing hospitals and private practices with the best technology, services, and solutions to fully meet our customers’ needs, concluded Mr. Abdullah.” 

About Positron Corporation

Positron Corporation is a molecular imaging device company that offers a state-of-the-art PET imaging system and clinical services to nuclear medicine healthcare providers throughout North America. Positron specializes in the field of cardiac Positron Emission Tomography (PET) imaging, the gold standard in cardiac diagnostics. Positron’s innovative PET technology, clinical services and practice solutions enables healthcare providers to accurately diagnose coronary artery disease and improve patient outcomes while practicing cost effective medicine. 

Positron's dedicated PET system, Attrius® PET, and unique market position are substantial advantages in facilitating the adoption of cardiac PET and the growth of the nuclear imaging market.

Positron will soon offer a state-of-the-art PET-CT molecular imaging device that will enable nuclear cardiologists to utilize the full capabilities of molecular imaging and nuclear medicine. Positron’s PET-CT also allows the Company to fully service and meet the demands of the vast oncology diagnostics marketplace.  Positron will continue to advance the technology through its manufacturing and R&D venture with Neusoft Medical Systems.    

Forward-Looking Statements

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.

FOR FURTHER INFORMATION, please visit the company’s website at www.positron.com, or contact: investor@positron.com