Haas takes helm at Positron

January 31, 1996

After a long executive search, PET camera developer Positron hasfound a chief executive officer. The Houston company announcedthis month that it has hired medical imaging veteran Werner Haasas CEO. The position had been open since September of 1994,

After a long executive search, PET camera developer Positron hasfound a chief executive officer. The Houston company announcedthis month that it has hired medical imaging veteran Werner Haasas CEO. The position had been open since September of 1994, whenRobert Guezuraga stepped down (SCAN 9/28/94).

Haas is a former Siemens executive whose most recent appointmentwas chairman and CEO of x-ray digitization developer FidelityMedical (SCAN 8/26/92). At Siemens, Haas headed the Siemens MedicalInstrumentation business as well as several other Siemens unitsat various times.

Haas will inherit a company that is in the midst of a workingcapital shortage. Positron said late last year that it had enoughcapital to last through the end of 1995, but that it was unableto meet some of its financial obligations according to their standardpayment terms (SCAN 12/13/95). The company said it was under financialstrain as it purchased parts to fill several recent orders forPET cameras.

Positron is in the process of securing additional financingthat will put the company on a secure footing, according to CFODavid Rodrigue. The financing will include a bank line of creditsecured by Positron's assets and accounts receivables, as wellas a private equity placement of preferred stock and/or subordinateddebentures. The company expects the deals to be concluded in thenext 30 days.

Until then, Positron is making do with cash on hand, accordingto Rodrigue.

"With our service revenue as well as some other things,we've been able to make ends meet," he said. "Thingsare pretty close to being fixed."