Positron Corporation Orders Six Attrius® PET Systems and Components from Neusoft Positron Medical Systems

Rhea-AI Summary

Positron Corporation (POSC) Announces Business Cooperative Partnership and Acquisition of PET Imaging Systems Inventory

Positive

• Positron Corporation has formed a new Business Cooperative Partnership with Shenyang Intelligent Neuclear Medical Technology Co, a subsidiary of Neusoft Medical Systems, and agreed to purchase the current inventory from its PET Joint Venture partner, Neusoft Positron Medical Systems. The acquisition includes six (6) Attrius PET systems and all components with an estimated value of $6 million dollars. Positron has introduced a 'Lease to Own/Services Program' offering an attractive and viable operational model for nuclear imaging cardiac PET practices in the industry.

Negative

• None.

Niagara Falls, NY, July 31, 2023 (GLOBE NEWSWIRE) -- Positron Corporation (“Positron” or the “Company”) (OTC: POSC), a leading molecular imaging medical device company that manufactures, sells and services PET imaging systems and clinical services, is pleased to announce that in combination with its new Business Cooperative Partnership with Shenyang Intelligent Neuclear Medical Technology Co, a wholly owned subsidiary of Neusoft Medical Systems, Positron has agreed on terms to purchase the current inventory from the Company’s PET Joint Venture partner, Neusoft Positron Medical Systems. Positron will acquire six (6) Attrius PET systems and all Attrius PET system components held in inventory, with an estimated value of $6 million dollars. The Attrius components inventory provides a full spectrum of parts which will service Attrius PET customers over the next decade.         

Positron has identified multiple nuclear cardiology practices seeking to purchase Attrius  dedicated PET only systems with several sales proposals currently in the process of acceptance.  Positron has introduced a “Lease to Own/Services Program” which provides an Attrius PET System and all Clinical & Technical Services for one price per month. The model lease is based on a 4-year term with the system’s ownership transferred to the customer upon completion of the lease, which will also include an annual full services agreement at a guaranteed set price. Positron’s Lease to Own/Services Program offers a zero upfront Capex expense providing the most attractive and viable operational model for nuclear imaging cardiac PET practices in the industry. Positron anticipates acceptance of several Attrius systems with customers before the launch of its new PET-CT system in the coming months with most expected to  participate in Positron’s Attrius Lease to Own/Services Program.

Adel Abdullah, President of Positron stated, "Positron’s Attrius dedicated PET only system is a tremendous tool for advanced cardiac studies and diagnostics, and we are pleased for our customers to take advantage of our Attrius, services, training, and our new Lease to Own Program." Mr. Abdullah continued,"Positron’s objectives are fully aligned with our physicians’ and practices that demand to deliver the best quality nuclear imaging care to its patients, which can be achieve by providing the most value through offering superior images, clinical services, and cost-effective pricing. Moving forward we expect to be part of many innovative solutions for physicians, practices, and hospitals that we believe will accelerate the adoption of the PET modality and future growth Positron."       

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 and manufacture PET and PET-CT technology through its supply, development, and R&D partnership with Shenyang Intelligent Neuclear Medical Technology Co, LTD, a subsidiary of 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. Words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. 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


Investor Relations Contact:
Skyline Corporate Communications Group, LLC
Lisa Gray, Senior Account Manager
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: lisa@skylineccg.com

FAQ

What is the new Business Cooperative Partnership announced by Positron Corporation?

Positron Corporation has announced a new Business Cooperative Partnership with Shenyang Intelligent Neuclear Medical Technology Co, a subsidiary of Neusoft Medical Systems.

What is the estimated value of the current inventory acquired by Positron Corporation?

The current inventory acquired by Positron Corporation, including six (6) Attrius PET systems and all components, is estimated to have a value of $6 million dollars.

What program has Positron introduced in relation to the acquired PET systems?

Positron has introduced a 'Lease to Own/Services Program' which provides an Attrius PET System and all Clinical & Technical Services for one price per month, offering an attractive and viable operational model for nuclear imaging cardiac PET practices in the industry.