Park looks for strategic partner

April 2, 1997

Nuclear medicine vendor Park Meditech announced that it will actively seek a strategic partner to assist the company in maximizing its technology within the nuclear medicine market.The announcement came with the release of financial results for the first

Nuclear medicine vendor Park Meditech announced that it will actively seek a strategic partner to assist the company in maximizing its technology within the nuclear medicine market.

The announcement came with the release of financial results for the first six months of 1997 (end-January), which saw the vendor report increased revenues but also a slight increase in its net loss.

For the six-month period, revenues were $4.6 million (Canadian), compared with $3.2 million (Canadian) for the same period in 1996. The company posted a net loss of $5 million (Canadian), compared with $4.9 million in 1996.

The company also reported that the operational reorganization begun in February has mostly been completed (SCAN 3/5/97). In addition, the vendor is shipping its scheduled backlog and is continuing to move ahead in the development of new products, according to Richard Mullen, president and CEO.