Medicare payments aid Hologic results

August 15, 1994

Bone densitometry vendorHologic last week announced strong revenue and income growth forthe third quarter (end-June). The company's prospects have beenhelped by the Health Care Financing Administration's decisionto provide Medicare reimbursement for dual

Bone densitometry vendorHologic last week announced strong revenue and income growth forthe third quarter (end-June). The company's prospects have beenhelped by the Health Care Financing Administration's decisionto provide Medicare reimbursement for dual energy x-ray examinations(DXA) to measure bone density.

Hologic, of Waltham, MA, recorded third-quarter revenues of$10.9 million, up 65% from $6.6 million in the same quarter ayear ago. Hologic enjoyed net income of $1.2 million, comparedto a net loss of $169,000 in the third quarter of last year.

Hologic's sales were led by its QDR bone densitometers, inparticular QDR-2000plus, according to chairman and CEO David Ellenbogen.The system was introduced in September 1993.

In addition to Medicare reimbursement, Hologic has been helpedby a Japanese initiative to provide widespread osteoporosis screeningfor its citizens. Hologic has also seen sales grow in PacificRim and Latin American countries, the company said.