Uncertainty over the outcome of a shareholder proxy battle hindered1997 second-quarter revenues for medical imaging software developerISG Technologies. The Mississauga, Ontario, firm reported lastweek that revenues dropped 11% in the period
Uncertainty over the outcome of a shareholder proxy battle hindered1997 second-quarter revenues for medical imaging software developerISG Technologies. The Mississauga, Ontario, firm reported lastweek that revenues dropped 11% in the period (end-December).
ISG in December fended off a bid for control of the company launchedby Quorum Growth, a dissident shareholder group (SCAN 1/8/97).Quorum proposed to bring back former president and CEO ThomasCafarella, divest the company's image-guided surgery business,and refocus the firm on PACS software development.
While ISG won the battle, the turmoil resulted in a slowdown inthe company's sales, particularly in the image-guided surgerybusiness that Quorum said it would sell, according to chairmanand CEO Dr. Michael Greenberg.
For the quarter, ISG's revenues were $6.3 million (Canadian),down from $7.2 million in the second quarter of 1996. The firmhad a loss of $1.8 million (which included a $1.5 million one-timecharge), compared with an $88,000 profit in the second quarterof 1996. The one-time charge included costs for the proxy battleand for writing off inventory for ISG's Pulsus product line.
In announcing the results, Greenberg said that ISG's revenue growthresumed once the proxy battle was over, and the company expectsto post improved results in its third and fourth quarters.
Stay at the forefront of radiology with the Diagnostic Imaging newsletter, delivering the latest news, clinical insights, and imaging advancements for today’s radiologists.
Study Shows Enhanced Diagnosis of Coronary Artery Stenosis with Photon-Counting CTA
July 10th 2025In a new study comparing standard resolution and ultra-high resolution modes for patients undergoing coronary CTA with photon-counting detector CT, researchers found that segment-level sensitivity and accuracy rates for diagnosing coronary artery stenosis were consistently > 89.6 percent.
FDA Expands Approval of MRI-Guided Ultrasound Treatment for Patients with Parkinson’s Disease
July 9th 2025For patients with advanced Parkinson’s disease, the expanded FDA approval of the Exablate Neuro platform allows for the use of MRI-guided focused ultrasound in performing staged bilateral pallidothalamic tractotomy.
Study Shows Enhanced Diagnosis of Coronary Artery Stenosis with Photon-Counting CTA
July 10th 2025In a new study comparing standard resolution and ultra-high resolution modes for patients undergoing coronary CTA with photon-counting detector CT, researchers found that segment-level sensitivity and accuracy rates for diagnosing coronary artery stenosis were consistently > 89.6 percent.
FDA Expands Approval of MRI-Guided Ultrasound Treatment for Patients with Parkinson’s Disease
July 9th 2025For patients with advanced Parkinson’s disease, the expanded FDA approval of the Exablate Neuro platform allows for the use of MRI-guided focused ultrasound in performing staged bilateral pallidothalamic tractotomy.
2 Commerce Drive
Cranbury, NJ 08512