Picker nabs $22 million contract

June 29, 1994

Picker International continues to enjoy success in securing federal defense contracts for medical imaging equipment. The company announced this month that it won a contract worth $22 million to supply CT scanners to the Department of Defense (DOD).

Picker International continues to enjoy success in securing federal defense contracts for medical imaging equipment. The company announced this month that it won a contract worth $22 million to supply CT scanners to the Department of Defense (DOD).

Under the terms of the contract, any DOD facility or otherfederal agency that leases a CT scanner in the next three yearswill lease a Picker scanner. Picker estimates that the contracthas a potential value of over $22 million in the first year alone.Financing for the leases will be provided by Picker FinancialGroup, a joint venture between Picker and LDI of Cleveland.

Defense contracts are a lucrative revenue stream for the Cleveland-basedvendor. Earlier this year Picker won a contract worth $6.2 millionto supply DOD with x-ray equipment (SCAN 1/19/94).