LINKOPING, Sweden, Nov. 03, 2003 (PRIMEZONE) -- The Swedish IT and medical technology company Sectra is continuing to focus on the mammography area and is investing an additional SEK 85 million in jointly owned Mamea Imaging AB. The investment is being made to secure future product supply of the unique digital mammography stand, which is part of the Sectra MicroDose Mammography(TM) system.
The new mammography stand was developed by Mamea Imaging AB and Sectra has decided to invest an additional SEK 85 million in this company by subscribing for convertible debentures that will mature on July 1, 2008. Payment of the convertibles will partly be effected by offsetting existing loans. Today, Sectra owns 38% of the shares in Mamea Imaging AB. On conversion, Sectra's ownership share will increase to 75%. Conversion may be effected at any time between today's date and through July 1, 2008.
"Through additional investment in Mamea Imaging AB, we are helping to secure the future product supply of MicroDose mammography stands. The investment also provides us with the opportunity, on conversion, to strengthen the Sectra Group by adding Mamea Imaging AB as a subsidiary," says Dr. Jan-Olof Bruer, President and CEO of Sectra AB.
Mammography is the second most common radiology examination in the world. An estimated 30,000 conventional systems are installed in the market and it is expected that these will be replaced at a rate of about 4,500 systems per year. A high proportion of the new systems will be digital, which means there is significant potential in this area for the Sectra MicroDose Mammography(TM) system.
"The first Sectra MicroDose Mammography system was sold to Helsingborg Hospital in Sweden. It is now in continuous use and has met the expectations in terms of high image quality and extremely low radiation dose," says Torbjorn Kronander, President of Sectra Imtec AB. "With this new digital MicroDose mammography system, we have the potential to establish ourselves as a leading player within the mammography field."
About Sectra MicroDose Mammography(TM)
The Sectra MicroDose Mammography(TM) system consists of a unique mammography stand developed by Mamea Imaging AB and the Sectra PACS(TM) system for the processing of digital radiology images. The stand is based on completely new digital detector technology that makes it possible to combine very high image quality with a significantly reduced radiation dose. Using Sectra MicroDose Mammography(TM) the radiation dose can be reduced by a factor of five, compared with traditional film- based systems. Another advantage of the new system is that it cuts the number of steps in the mammography screening workflow. This results in shorter waiting times and faster diagnoses, which benefits both patients and radiology personnel. The system is patent-protected through Mamea Imaging AB.
Visit our website http://www.sectra.com
Sectra's operations Sectra has its roots in Linkoping Institute of Technology and is one of Sweden's fastest growing high-tech companies in IT. Since the mid-1980s, Sectra has successfully conducted development and sales of advanced medical IT and telecommunications products. Today, the business includes products in medical systems, secure communication systems and wireless information systems.
Sectra's medical business is conducted in Sectra Imtec AB, which is a wholly owned subsidiary of Sectra AB. Internationally, Sectra PACS is marketed and sold through different partners.
Business is conducted in eight countries with a total of 280 employees. Sales for the fiscal year 2002/03 reached SEK 503 million. Since March 1999, Sectra's shares have been quoted on the O list of the Stockholm Exchange. As of July 1, 2003, the share is quoted on the Attract 40 list.
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