GE cutoff hurts Star's annual results
The termination of a CT component supply contract between StarTechnologies and GE Medical Systems has resulted in a major dropin revenues for Star. The Sterling, VA, company reported financialresults for fiscal 1996 (end-March) that indicated revenues
The termination of a CT component supply contract between StarTechnologies and GE Medical Systems has resulted in a major dropin revenues for Star. The Sterling, VA, company reported financialresults for fiscal 1996 (end-March) that indicated revenues of$4.3 million, compared with $21.6 million the year before, whenthe agreement was still in effect. Star posted a loss of $4 millionfor the year, compared with net income of $1.2 million in 1995.
Star had been supplying GE with CT image reconstruction processorsuntil early 1995, when GE terminated the relationship. A disputebetween the companies went to an arbitration panel, which awardedStar $9.1 million (SCAN 3/27/96). GE is trying to have the rulingoverturned.
Star CEO Robert Compton said that 1996 was a transitional yearfor the company. The firm downsized in June 1995 and has beenworking with an investment banking firm to examine strategic opportunities,including acquisitions. It is also working to bring a new lineof image management products to market.
Where Things Stand with the Radiologist Shortage
June 18th 2025A new report conveys the cumulative impact of ongoing challenges with radiologist residency positions, reimbursement, post-COVID-19 attrition rates and the aging of the population upon the persistent shortage of radiologists in the United States.
Philips Launches Flash 5100 Point-of-Care Ultrasound System
June 17th 2025Offering a combination of intuitive touchscreen controls and enhanced image clarity, the portable Flash 5100 POC ultrasound platform reportedly facilitates confident and rapid assessment in emergency radiology and critical care settings.
