AFP takes on Philips, GMM products
AFP Imaging signed on this month as exclusive U.S. distributorfor Italian x-ray vendor General Medical Merate. The new businesswill boost AFP's ability to provide customers with full medicalimaging systems, from acquisition to processing, said
AFP Imaging signed on this month as exclusive U.S. distributorfor Italian x-ray vendor General Medical Merate. The new businesswill boost AFP's ability to provide customers with full medicalimaging systems, from acquisition to processing, said presidentDonald Rabinovitch.
The Elmsford, NY, supplier of film and digital processing systemsalso entered into a U.S. distribution arrangement with PhilipsMedical Systems earlier this year, he said. AFP introduced boththe Philips-made Mammo Diagnost BC mammography system and a Philipsmobile x-ray system under its own label at the RSNA show thismonth .
A four-year mammography distribution contract with Soredexof Helsinki ended as AFP took on the Philips products. Soredexwill be selling its systems directly in the U.S., Rabinovitchsaid.
AFP entered the GMM marketing relationship as well as a nonexclusivedistribution agreement with Villa, another Italian x-ray firm,as part of the acquisition of certain assets of InternationalMedical Technology (IMT America) of Charlotte, NC.
WDI Capital Markets of Hilton Head, SC, served as financialadviser to AFP in the IMT acquisition. WDI is an investment bankingfirm that specializes in medical transactions. The firm also advisedTransworld X-ray in its search for investors, which resulted inthe firm's pending acquisition by Gendex (see story, page one).
AFP has been on the lookout for new opportunities in medicalimaging to counter sluggishness in the graphics arts side of itsbusiness (SCAN 4/25/90).
"This (the IMT agreement) is further indication that (medical)is where we are putting our attention again," Rabinovitchsaid.
GMM and Villa products include remote x-ray tables, x-arms,high-frequency generators and more conventional radiographic equipment,he said. The new products will help AFP boost its bottom linein 1992 after experiencing sluggishness this year.
"We are expecting $5 to $6 million in revenue gains asa result of this new (GMM) product line," Rabinovitch said."It is a major expansion for us. We have been hiring newpeople and are poised for a strong year."