Issue Stories
Newswatch
March 2004
| Philips introduces new age of ultrasound equipment |
| According to industry forecasts, demand for diagnostic
imaging services is expected to grow 200% over the next decade. Despite the growing demand
for imaging services, healthcare providers are being asked to provide more advanced
diagnostic procedures while controlling costs and utilizing fewer clinical personnel. Philips incorporates intelligent design and control with its iU22
ultrasound system.
Philips Medical Systems (Bothell, Wash) has created a resolution for the growing demand
with the introduction of its iU22 ultrasound system, the newest addition to the
companys line of ultrasound equipment. The ergonomically designed system consists of
intelligent controls and a range of high-performance features, including real-time 4-D
imaging, voice-activated control and annotation, and automated image optimization
technologies.
The iU22 system was designed to address critical industry issues with a simpler,
easy-to-use interface; hands-free voice command; one-button automated optimization
controls for quick and consistent imaging acquisition between users of varying skill
levels; and data management that allows for more complete patient information, reporting,
and trending. These features enable the iU22 to provide higher quality exams, greater
consistency, and faster exam times.
Clinicians have been looking for a leap forward in ultrasound performance and
workflow. The iU22 system meets the criteria, going beyond image quality, said
Barbara Franciose, CEO of ultrasound for Philips Medical Systems. It provides
clinicians and administrators with many of the capabilities they have been asking for,
like faster patient throughput, more diagnostic capabilities, simplified system control,
and broader clinical applications. It humanizes technology.
Designers of the iU22 didnt forget the most crucial factor in developing new
technology: the patient. The system is designed to help patients better visualize and
understand their conditions while reducing the time required for many exams. The iU22 also
enhances the physicians diagnostic capability, thus reducing or eliminating the need
for more expensive or invasive tests and procedures. |
| Varian to market first 3-D cone-beam imaging sys |
| The cone-beam CT option on the Acuity simulator from
Varian Medical Systems (Palo Alto, Calif) has received FDA 510(k) clearance and is now
commercially available for use with the companys Dynamic Targeting image-guided
radiation therapy (IGRT). Varians cone-beam CT, newly FDA
cleared, creates 3-D images of tumors.
The cone-beam CT generates 3-D images of tumors and surrounding anatomy. Varian has
integrated the Acuity imaging system with its software for image management and treatment
planning, making it easier for doctors to review, verify, and finalize treatment plans and
patient positions prior to commencing treatments.
The cone-beam enables doctors to dose sharpen, which is a targeting maneuver used
to prevent over- or underdosing a particular location, said Varian PR Manager Meryl
Ginsberg. The size of the beam can be adjusted to accommodate the growth or
shrinkage of a targeted area. This versatility drastically reduces the chances of exposing
a healthy location to radiation therapy.
Acuity 3-D imaging will make it possible for clinicians to achieve better outcomes for
their patients by sparing more healthy tissues and concentrating more cancer-killing
radiation on tumors. The systems cone-beam imaging also will be used for
brachytherapy treatment planning and to guide the placement of catheters and seeds.
Although the response from the market has been favorable for Varian, the acclaim was
anticipated. As soon as we submitted the 510(k) proposal for the 3-D cone-beam, our
sales staff was out in the field promoting it, Ginsberg said. In essence, the
cone-beam has been in the developmental phase since the release of the Acuity years ago.
The system has always paralleled the progression and needs of the medical imaging
industry. There was no doubt that technology like the 3-D cone-beam would evolve for the
system, and were excited that its finally arrived. |
| Study: MRI found to affect depression |
| A recent study found that a standard type of brain scan
might help alleviate some symptoms of depression. Conducted by researchers at McLean
Hospital (Belmont, Mass), the study tested a form of MRI in 40 patients who were feeling
depressed due to bipolar disorder. Of these depressed individuals, 30 underwent a form of
MRI using extremely weak magnetic fields that penetrate throughout the brain; 10 patients
received a simpler brain scan used as a placebo. The result of the division found that 23
of the 30 individuals (77%) in the treated group noticed an improvement over the way they
felt before the scan. Comparatively, only 30% of the placebo group felt the same results.
Although the procedure is still in its developmental phase, researchers at McLean
Hospital have designed a low-cost scanner to deliver the magnetic waves. The scan was
originally designed as a tool to study brain function, not as a treatment. The idea to try
the procedure as a treatment came about after a number of patients claimed to feel better
after the scan. The precise reason for the alleviated symptoms is not yet known; however,
McLean Hospital President Dr Bruce Cohen stated that the electromagnetic stimulation might
change the firing patterns of nerve cells and help the brain balance itself.
McLean Hospital received a patent for the technology in 2003 and plans to make it
commercially available in the future. The hypothetical use of the technology would be to
provide those who suffer from bipolar disorder with the opportunity to visit a doctor and
receive a zap in an effort to feel better. Some working on the project have
offered the possibility of machines being installed in the homes of those who need the
treatment. According to McLean, this ideaif given the opportunity to developis
many years away from being a reality.
Research into the magnetic stimulation of the brain is not new to the field of brain
imaging. Such treatments for mental disorders have been taking place since the 1980s;
however, much of the research has been focused on transcranial magnetic stimulation. This
procedure differs from the McLean treatment because it delivers strong magnetic pulses
directly into specific brain regions.
While the results of the McLean research have proven positive thus far, some doctors
claim more work is needed on the project to determine whether the treatment has side
effects, such as memory disturbance. Additionally, doctors have raised the issue that it
is often difficult when treating bipolar disorder to achieve a long-lasting response. |
| Kodak to buy a division of RealTimeImage |
| Kodak Polychrome Graphics (Norwalk, Conn) has signed a
letter of intent with RealTimeImage (RTI of San Bruno, Calif) for the purchase of
RTIs graphic arts division. RTI will use proceeds from the sale to expand product
development, sales, and marketing efforts for its healthcare business. Retaining its
Pixels-on-Demand technology and patents, RTI plans to provide greater emphasis on its
iPACS line of medical imaging products. The companys redirection of its business
strategy is in response to the fast-growing iPACS market. Leveraging the industry demand
for cost-effective, open, and scalable solutions, RTI says its iPACS system presents a
unique venue for image management and distribution solutions as well as expanding
conventional imaging workflow.
According to sources representing RTI, the healthcare side of the business has been
experiencing intense growth. RTI made the decision to sell its graphics division in order
to fund future developments of its intensified healthcare business. Funding for new
marketing and research developments, as well as the funding needed to support an enlarged
healthcare staff, will rely on the proceeds of the agreement made with Kodak. The
transaction between the two companies is expected to close in early 2004.
As stated by the letter of intent with Kodak Polychrome Graphics, RTIs graphic
arts employees will become part of Kodak, continuing to provide service and support to
current RTI customers. |
| R2 Technology and University of Chicago continue
collaboration of CAD workstation |
R2 Technologys
ImageChecker LX CAD system is a flexible, intuitive, and interpretative aid.Ten
years after the relationship was formed, R2 Technology Inc (Sunnyvale, Calif) and the
University of Chicago Medical Center have extended their agreement to create CAD
applications for mammography. Under the terms of the new agreement, the partners will work
together in an effort to accelerate development of a mammographic CAD workstation
reference library for the early detection of breast cancer. The investigational CAD
reference library contains a database of both malignant and benign lesions, which
radiologists can access for comparison and relevancy.
The University of Chicago has researched computer-aided detection and diagnosis
for mammography for many years, said Maryellen Giger, PhD, professor of radiology at
the University of Chicago. Our group was one of the first to bring computer-assisted
reading into the clinical arena nearly a decade ago, and we remain excited about the
potential for computer-aided detection and diagnosis to improve mammography.
According to Michael Klein, president and CEO of R2 Technology, the reference library
workstation is designed to display and compare lesions similar to the way most
radiologists do in their own minds. This system is a flexible, intuitive, and
interpretative aid, which has the potential to serve as a valuable teaching tool,
Klein said. Combining the insights of researchers at the University of Chicago, as
well as other leaders in mammography, R2 intends to add thousands of lesions to the
current database to extend its clinical relevance.
Clinical trials demonstrated that using the ImageChecker CAD system could result in
earlier detection of up to 23.4% of the cancers currently detected with screening
mammography in women who had a prior screening mammogram 9 to 24 months earlier. |
| Medical community addresses Bushs concerns |
| In reaction to statements made by President Bush
concerning the computerization of health records, the necessary control of healthcare
costs, and the improvement of patient care, several leaders within the medical community
have proposed solutions for the industry segments brought under question. The American
Health Information Management Association (AHIMA of Chicago) released an outlined
statement supporting the Presidents request for computerized healthcare records. The
outline describes four specific needs within the industry:
1. The need for advancing electronic health record (EHR) standardsA standard EHR
will help reduce medical errors while providing health information at a lower cost. It
also will allow for the sharing of healthcare data, which will improve research, public
health monitoring, and bioterrorism response.
2. The need for a standard medical language and improved dataA standard EHR
requires standardized medical language, terminology, and coding standards.
3. The need for a national health information infrastructureThis infrastructure
will provide accurate and timely information to support decision-making at all levels.
4. The need for jobs and educationSkilled, specially trained health information
management professionals will be needed in order to reap the full benefits of information
technologies in healthcare.
Bush also called for a more aggressive use of medical technology to reduce the number
of medical mistakes, which put lives at stake and increase the cost of healthcare.
Eleanor Kerr, director of government affairs at Siemens Medical Solutions USA Inc
(Malvern Pa) released a statement urging Bush as well as medical community members to
increase awareness of information technologies that minimize human error within the
hospital setting.
The majority of medical errors do not result from carelessness or individual
error, Kerr said. Rather, these errors occur from flaws in the delivery
system. Simple and readily available information technologiessuch as the use of bar
codes for medication management and electronic medical recordscan address these
flaws. Hospitals have to adopt these technologies for our nation to make a dent in the
medical error issue, and also to
ultimately improve healthcare costs in America. |
| Planar Systems changes the awareness of digital
imaging |
| The evidence is clear: The medical imaging industry is
in the process of becoming a more digitally based market. Although many organizations are
able to take part in this digital revolution, an even greater number of imaging facilities
simply do not have the resources to participate. Before
Planars price reduction, this Dome C3 dual flat-panel display had a list price of
$27,995. Today, that price has dropped to $14,995an almost 54% cut in price.
Planar Systems Inc (Beaverton, Ore) has made it easier for imaging professionals to
benefit from high-quality medical imaging displays by reducing the list price of its Dome
line of displays by nearly half. The decrease in price enables a wider range of healthcare
facilities to deploy the medical displays for improved patient care.
Our digital imaging strategy is driven by the market, said Mike Harris, VP
of corporate development at Planar. Were not trying to push technology out
into the marketplace. Instead, were spending a lot of time understanding what
customers are asking for.
Planar has spent more than a year studying the demands within in the imaging industry.
The company ultimately found a desire in the industry to transition from film-based
imaging to digital imaging because of the cost advantages on a per-study
basisdigital imaging has proven to be three to five times less expensive than film.
However, the capital investment required up front for digital systems makes the decision
to take part in the transition much more difficult for many facilities.
Planar has a significant supply chain and global operations, which enabled us to
reap some substantial cost advantages, Harris added. Because of this, we also
are able to deliver a broader base of customers. Were able to reach a greater number
of smaller firms as well as larger ones that have a desire to obtain digital
systems.
Leveraging Planars relationships with IT channels, buyers in healthcare
facilities can now purchase Dome displays through resellers they know and trust, such as
CDW, Dell, and Richardson Electronics as well as from the industrys leading medical
equipment and software providers.
Planars line of Dome displays serves healthcare professionals by enabling
diagnostic- and referral-quality images throughout the healthcare enterprise. Available in
2-, 3-, and 5-megapixel resolution, grayscale and full-color, diagnostic- and
referral-grade, Dome displays allow for anytime, anywhere viewing of radiological images,
overcoming the limitations and costs of film-based images and ultimately leading to
improvements in the quality of patient care. The Dome line includes the Dome C2, C3, and
C5i as well as the Dome Qx displays (formerly named the Adara Qx line).
We also found that customers arent just looking for a hardware
solution, Harris said. They are looking for a broader depth of products,
software, and services. They want software to manage the hardware as well as services to
support the integration of their current systems into a larger system when they make the
transition from film to digital.
Planar Dome displays are available with Dome CXtra software, which ensures that the
displays are consistently calibrated and conform to DICOM standards. An important part of
a high-quality total solution, this software reduces the total cost of ownership of
displays through its enterprise management capabilities, enabling administrators and IT
staff to easily monitor display performance and calibration from a central location using
industry-standard interfaces.
Weve performed a substantial amount of research on what physicians and
administrators need in order to make the transition into digital imaging, Harris
said. In combination with having medical professionals contribute to our research
and development process, the fact that our advanced technology is now available at half
the standard price has made us very excited about the future diffusion of digital systems
within the medical imaging industry. |
| FIFADI achieves milestone in cardiovascular
diagnostic imaging |
| In February 2003, the Florida Institute for Advanced
Diagnostic Imaging (FIFADI of Port Richey, Fla) installed Toshiba America Medical
Systems Aquilion 16 CFX multislice CT system in its facility. Just 13 months after
the inaugural use of the machine, the institute is celebrating a milestone in
cardiovascular diagnostic imaging with more than 450 coronary CT angiography procedures
performed. Toshibas Aquilion 16 CFX helped a Florida
facility perform 450 coronary CT angiographies in a 13-month span.
We were the third site in the country to receive this particular multislice
system, said Steven Strobbe, DO, administrative physician and owner of FIFADI.
We were on Toshibas waiting list for more than a year before the system
arrived.
Strobbe adds that after the installation, patients were slow to embrace the new
technology. On average, the facility conducted only one or two procedures a day.
Cardiol-ogists, too, were slow to respond to the technology being offered by FIFADI.
We had to go out there and inform the doctors of the advanced images that the CFX
could produce, he recalled. It wasnt long until the word spread in the
area about what kind of technology we were working with. Today, FIFADI performs an
estimated 30 to 40 CT angiography procedures a day, with the majority of patients on
referral from area cardiologists.
The Aquilion 16 CFX is a multislice CT system that offers noninvasive cardiovascular
diagnostic imaging for early detection of heart disease. The system delivers as many as 16
0.5-mm slices within a 400-millisecond gantry rotation. The 0.4-second scanning capability
enhances the image quality of the scanner by effectively reducing any image artifact from
internal organs and structure motion. As a result, the 16 CFX delivers more accurate
clinical images depicting fine details, including minute coronary arteries, soft plaque,
and small vessel structures for superior cardiovascular imaging studies.
FIFADI is an official TAMS show site, an accreditation received by only a few medical
facilities throughout the country. Coro-nary computed tomography angiography (CTA) scans
performed at FIFADI visually isolate the heart by removing surrounding structures to
expose signs of disease through 3-D visualization of coronary arteries, calcified and/or
soft plaque, heart chambers, bypass grafts, and stents. In most cases, the primary
advantage of a coronary CTA is the ability to visualize soft plaque, which would be
invisible during an electrocardiograph, stress testing, calcium scoring, and cardiac
catheterization.
According to Strobbe, coronary CTA is one of the most accurate imaging techniques
available for detecting the accumulation of soft plaque in the coronary arteriesa
leading cause of heart attacks. Using the Aquilion scanner, FIFADI is able to conduct
better exams at the earliest stages of heart disease to prevent future heart attacks and
lessen patient risk. CTA also reduces the need for costly and often painful invasive
procedures, such as catheter angiography and surgery.
About 50% of cardiac procedures have a negative result, Strobbe said.
That means, half the patients who experience these painful procedures dont
necessarily have to. The industry is moving away from these types of invasive procedures.
These are amazing times. Were going to stop passing catheters; thats where the
industry is heading, and I think its great. |
| Amerinet and Powerware form cooperative effort |
| Amerinet Inc (St Louis) has ventured into an agreement
with Powerware Corp (Raleigh, NC), giving Amerinet members access to uninterruptible power
systems (UPS) and comprehensive power management solutions that ensure continuous
functioning of critical healthcare systems. When we decided we wanted to provide
these kinds of services to our members, we discussed the possibilities of working with
many companies, said Tom Wessling, VP of nutrition and facility services at
Amerinet. However, we ultimately decided on Powerware, because the company is able
to provide the exact package we want. Our members can take advantage of [Powerwares]
full range of software, integration, and power services.
In an effort to help healthcare facilities avoid power disruptions, Powerware provides
24-hour service and technical support, on-site evaluations of power problems, and
full-service design and installation unique to the healthcare industry.
This area of service being provided by Powerware also will create an avenue for
our members to increase awareness amongst one another concerning issues or problems they
are experiencing, Wessling added. Because our members will be receiving the
same service, if a question or concern should arise, a solution can be obtained more
efficiently within a network of peers. |
| Study: New results found in hormone treatments for
prostate cancer patients |
| The American Society of Therapeutic Radiology and
Oncology (ASTRO of Fairfax, Va) recently found that prostate cancer patients who undergo
hormone treatments before undergoing 3-D conformal radiation therapy (3D-CRT) do not have
increased side effects compared to patients who did not have hormone therapy before
radiation. To determine the effect on toxicity of adding neoadjuvant hormonal therapy
to 3D-CRT, 583 men with prostate cancer enrolled on the first three dose levels of RTOG
94-96. Collectively, 207 men initiated neoadjuvant hormonal therapy between 2 and 3 months
before 3D-CRT.
The study found that hormone therapy before radiation did not have a significant
independent effect on any acute or late toxicity of the patients. However, the findings do
suggest that hormone therapy before radiation significantly increases the likelihood of
Grade 2 acute genitourinary complications.
Although hormone therapy before radiation is not the significant finding, when
placed in the multivariate analysis, its interaction with baseline urinary status is an
important factor, said Richard Valicenti, MD, lead author of the study and a member
of the Department of Radiation Oncology at Thomas Jefferson University Hospital, Bodine
Center for Cancer Treatment (Philadelphia).
Overall, the combined modality therapy significantly increased the risk of acute GU
effects compared to 3D-CRT alone in men with poor baseline urinary function. |
| PracticeXpert to expand customer base |
| Healthcare technology and services provider
PracticeXpert Services Corp (Toluca Lake, Calif) has entered into a letter of intent to
acquire a Houston-based transcription company. The company has requested anonymity until a
definitive agreement has been made with PracticeXpert. Were interested in
the Houston-based companys reputation of strong experience in the transcription
business, said PracticeXpert CFO Michael Manahan. The company has a clear and
customer-focused operation that serves the exact client mix our company is looking to
expand into.
Our corporate strategy is to acquire companies that have existing relationships
with physicians, he continued. Once the company is acquired, we have the
opportunity to install our medical billing platform.
The name of the Houston-based company and details of the acquisition are scheduled to
be announced when a more final agreement is made between the two companies. |
| HealthTronics shock wave surgery endorsed by
ACFAS, APMA |
| The American College of Foot and Ankle Surgeons (ACFAS
of Park Ridge, Ill) and the American Podiatric Medical Association (APMA of Bethesda, Md)
have released a joint statement, endorsing the use of extracorporeal shock waves (ESW) for
the treatment of plantar fasciitisheel spurs or heel painby HealthTronics
(Marietta, Ga). The recent endorsement for the provider of minimally invasive urologic
and orthopedic services is well directed. HealthTronics is the creator of OssaTron, the
first high-energy ESW device in the United States cleared by the FDA to treat chronic
plantar fasciitis and chronic lateral epicondylitistennis elbow.
The endorsement from the medical community further validates the use of
high-energy ESW minimally invasive surgery as a clinically effective and safe
noninvasive surgical treatment for a broad range of chronic musculoskeletal
conditions, said Argil Wheelock, chairman and CEO of HealthTronics. The
outcomes from ESW are similar to those achieved with traditional surgery, while the ESW
patients have fewer significant complications and return to normal activity much
sooner.
These factors have made ESW the treatment of choice for patients who need surgical
intervention if they do not improve with conservative treatment modalities. |
| Noninvasive cardiovascular imaging techniques to
gain widespread usage |
| ECRI (Plymouth Meeting, Pa) said that within the next 5
years, the use of noninvasive CT angiography will increase rapidly. This statement comes
from the organizations Health Technology Forecast, an online technology planning
resource for healthcare executives. According to ECRI, multislice CT angiography will
be performed more frequently as a complement or replacement for other cardiac
examinations, such as diagnostic cardiac catheterization, MRI, and nuclear imaging. The
organization expects the number of diagnostic cardiac catheterization procedures to
decrease over the next few years, particularly for assessing plaque, stenoses, and
myocardial viability as well as for ruling out atherosclerosis.
Because of the predicted use of the procedure, ECRI also states that high-volume
cardiology departments will increasingly consider purchasing dedicated cardiac CT
scanners. Healthcare providers and administrators can expect high-end multislice CTs for
cardiovascular and angiographic applications to diffuse rapidly over the next several
years. According to ECRI, the reasons for this diffusion include the noninvasiveness of
the scanning procedure, the increasingly aging population, and an ongoing emphasis on
earlier diagnosis and treatment. More advanced CT technology, such as the 32-, 40-, and
64-slice scanners showcased at RSNA 2003, could dramatically increase the range of cardiac
imaging applications that can be performed. |
| NovaRad adjusts its client base and partnerships |
| Since January 1, NovaRad (American Fork, Utah) has
aggressively entered the PACS market by way of partnerships, distribution, and services.
The company has partnered with Commonwealth X-Ray (Nicholasville, Ky) to distribute
imaging and archiving products in Kentucky, southern Indiana, and Ohio. Commonwealth
X-Ray, a full-service X-ray dealer, is a recognized name in the tristate area and will
represent NovaRads full line of products, including NovaPACS, NovaRIS, NovaPACS
Enterprise Archive, and Nova Web Server. In an effort to increase its presence in the
tristate area, NovaRad chose Common-wealth X-Ray because it satisfied a number of needs,
such as affordability, reliability for customers, and the ability to serve small to
mid-size medical facilities. The partnership between the two companies is a result of
NovaRads strategy to increase its installation size while maintaining affordability.
The addition of Commonwealth X-Ray will complement NovaRads existing in-house sales
efforts.
Also, NovaRad has been selected by Radiology Associates of Macon (Macon, Ga) to aid in
the facilitys initiative to become 100% filmless. NovaPACS is anticipated to save
the hospital thousands of dollars per month by eliminating the cost of film.
Early in 2004, NovaRad partnered with iPro Inc (Calhoun, Ga), a healthcare technology
distributor and consultant company, to market NovaPACS as well as the companys RIS
archived products, servers, and radiology accessories. iPro plans to focus its efforts
toward small to mid-size hospitals and radiology centers in the Southeast.
The Community Choice Healthcare Network hospitals (Owenatchee, Wash) selected
NovaRads NovaPACS, CR technologies, and RIS integration software for its
radiological department. The installation of the NovaRad technologies is scheduled for
completion in January. The system will replace the hospitals emulsion film systems
and provide the speed and ease of transferring images between hospitals in the network. |
| On the Move |
Eigen (Grass Valley, Calif) has
opened a new service bureau that will migrate analog or digital patient film information
to DICOM. Eigen will then transfer the complete study to a PACS or archive system. The new
bureau from Eigen was created in response to requests for information management from
cardiology and IT departments, imaging centers, and hospitals throughout the country. The
new facility is located at 13366 Grass Valley Ave, Grass Valley, CA 95945. The toll-free
number is 888-924-2020.Accel Healthcare Communications LLC (New York) has named Orin
Kimball as the companys senior VP, executive creative director. Kimball, who has
earned many commendations for art direction and graphics in pharmaceutical advertising, is
a graduate of the school of Visual Arts in New York City with a major in advertising.
HealthTek Solutions (Norfolk, Va) has appointed Colin Konschak, RPh, as VP of business
development. Konschak is a member of the American Academy of Managed Care Pharmacy, the
Virginia Society of Health System Pharmacists, and the American College of Healthcare
Executives. He is responsible for creating strategic alliances within the healthcare
community as well as overseeing various segments of the company. HealthTek has also named
Michael Sanders as divisional director of professional services. With more than 20 years
of experience in healthcare services, Sanders is responsible for the development of a new
IT consulting practice. He comes to HealthTek after holding several director-level
positions at Methodist Healthcare Systems (Houston).
IDX Systems Corp (Burlington, Vt) has promoted Thomas Butts to president and COO of the
company. Butts joined IDX in January 2002 as president and general manager of the IDX
Flowcast operating unit. In his new position, Butts will have overall responsibility for
the IDX operating units, including Flowcast, Groupcast, Carecast, and Image-cast. IDX has
also promoted Stephen Gorman to president and general manager of the companys
Groupcast operating unit. Prior to the promotion, Gorman served as the Groupcast national
operations manager and southeast region operations manager. |
| Money Talk |
| Quick Study Radiology (QSR of St Louis) announced
record growth and revenue volumes for the year 2003. During the past year, client
installations were up 115% over 2002, and the company experienced revenue growth in excess
of 38% over 2002. In the second half of 2003, QSR nearly doubled the number of
installations from the first 6 months, and revenue volumes were up 20% over the first half
of 2003. Merge eFilm (Milwaukee) has signed a new $15 million unsecured line of credit
agreement with Merchants and Manufactures BanCorp (MMBC of Milwaukee). The previous $15
million line of credit, from which no monies have been drawn, was set to expire in
December 2005. The new 3-year agreement provides capital for Merge eFilms future
growth and strategic investments. The companys cash balance of $15 million, in
conjunction with the $15 million line of credit, provides a $30 million foundation for
Merge eFilm in the RIS/PACS marketplace.
CC Soft Computer (Palm Harbor, Fla) has reported increases for fiscal year 2003. The
privately held software developer increased total gross revenues in 2003 to $51.5 million,
up from $47.3 million in 2002an increase of 10%. The company is predicting a 20%
growth rate for 2004. |
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