Positron Corp. is a cardiac health solutions company engaged in radiopharmeceutical development and the advancement of current internal imaging technologies. The radiopharmeceutical sector of American nuclear cardiology is a $1.2 billion dollar industry, and Positron Corp. has now teamed up with Disease Management, LLC, to increase its market share.
The two companies have agreed to co-develop a heart disease prevention and reversal software suite; the key component of a total coronary disease management solution. The proposed system will include a preliminary risk-assessment calculator, a coronary disease reversal program, and corresponding lifestyle modification regimen. These features will be backed by a cost-controlled patient outcomes tracker.
Joseph Oliverio, president of Positron Corp.commented on the project: “The development of our heart disease management solution will help us reach beyond our current molecular imaging targeted business to offer a product to payers, self insured corporations, multi-specialty groups, cardiology groups, hospitals and finally direct to the consumer.”
Mr. Oliverio noted the importance of this step in the growth of his company, and the services it provides. He went on to add: “The product introduction will address a first-to-market opportunity in the Coronary Disease Reversal and Prevention sector which strengthens Positron’s core products that are focused on providing accurate, cost effective imaging and disease management solutions. One of our many goals is to offer even the smallest community hospitals the same level of quality of our most experienced users.”
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Positron Corp. (POSC.OB) designs, develops and markets Positron Emission Tomography (PET) scanners. The Company is focused on producing state-of-the-art PET equipment for use in clinical settings such as hospitals and diagnostic clinics. The scanners are used to diagnose, stage and treat critical illnesses such as cancer, coronary disease and neurological disorders that include Dementia, Alzheimer’s and Parkinson’s disease. The company also provides total solution packages to physicians and hospitals for the diagnosis and management of the disease intended for imaging.
Positron scanners are designed to produce the best cardiac PET images, as well as high quality PET imaging for oncology and neurology patients. Positron Corp. strives to continually enhance their technology to produce the highest quality images. PET’s are quickly becoming a major diagnostic imaging tool. It is proven that PET scanners are the most effective way to check for cancer recurrences. Studies have shown that PET provides significant advantages over a CT or MRI when diagnosing disease.
PET scan cost can range from $1200 to $3500, depending on the type of scan used. Most insurance companies will cover the cost of most PET scans.
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After the closing bell yesterday, Positron announced that it has displayed their Pulse CDC Spect imaging system and introduced their new dedicated Cardiac PET system at the annual meeting of the American Society of Nuclear Cardiology. The PET system is expected to receive FDA approval next spring.
Market research has indicated that the cardiologist market would readily move to compliment their molecular imaging offering by adding Positron’s cost effective Attrius system. Positron is expecting considerable demand for their product since they are the only ones offering an all new PET only molecular imaging system for less than $600,000.
Positron Corporation’s President, Joseph Oliverio, stated, “The American Society of Nuclear Cardiology meeting confirmed our internal market research. We strongly believe that we are in a great position to be the leader in the rapidly expanding market of Cardiac PET. We will be the only company that is focused on bringing to market an affordable dedicated cardiac PET scanner with superior technology and disease focused software. We anticipate receiving our 510k FDA approval in spring of 2008.”
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