Swissray adds to distributor network

March 1, 1999

Swissray adds to distributor networkDigital radiography developer Swissray International of New York City has signed distribution agreements this month with three medical equipment suppliers in a deal that adds more than 40 sales and service

Swissray adds to distributor network

Digital radiography developer Swissray International of New York City has signed distribution agreements this month with three medical equipment suppliers in a deal that adds more than 40 sales and service representatives to Swissray's network. The three firms will act as worldwide distributors for ddR Multi-System, Swissray's digital radiography system.

Medika International of San Juan, Puerto Rico, will cover sales in Puerto Rico, the Caribbean, Mexico, and some South American countries. Radiographic Equipment Services of San Diego will cover San Diego and Orange counties, and H & H X-Ray of Lancaster, NY, will oversee sales in New York, Pennsylvania, and Ohio.

In other Swissray news, the company sold three ddR Multi-Systems this month, two to Kelsey-Seybold Clinic of Houston (see story, page 5), and one to the Federal Maximum Security Facility in Florence, CO. The system sold to the Colorado facility was purchased through a contract from the Department of Veterans Affairs.

The company has also announced results for its fiscal second quarter (end-December). For the period, Swissray posted revenues of $6.4 million, up 6.6% compared with the $6.0 million reported during the same period last year, which included sales of nearly $2 million from the film and processor business of Empower that was sold on June 30, 1998. Net income was $1.3 million, compared with $766,000 reported last year. Swissray has also resumed trading on the OTC (Electric Over the Counter Bulletin Board) under the symbol SRMI. The company had been delisted from the NASDAQ stock exchange in October for noncompliance with listing requirements, including the failure to file its 10-K report for the fiscal year end- ing June 30 by an Oct. 15 extension (PNN 11/98).