Healthcare Industry News: Novation
News Release - September 5, 2007
Novation Awards Agreement to E-Z-EM for EDA(TM) Technology for Empower(R) CT InjectorsLAKE SUCCESS, N.Y.--(HSMN NewsFeed)--E-Z-EM, Inc. (NASDAQ:EZEM ) today announced that Novation, the health care contracting services company of VHA, Inc. and the University HealthSystem Consortium, has awarded E-Z-EM an agreement for the Company's EDA(TM) technology for EmpowerŽ CT and CTA injector systems. The one-year agreement provides VHA and UHC's nearly 2,500 hospital members access to preferred contract pricing for Empower CT and CTA injector systems with EDA and the E-Z-EM EDA accessory product. The agreement is effective Sept. 1, 2007 and includes an option for a one year extension of the agreement.
An extravasation is a potentially dangerous situation that occurs when contrast is inadvertently injected into the soft tissue near the site of the needle insertion. E-Z-EM's patented extravasation detection accessory (EDA) measures electrical variances in the skin surface that can occur when contrast is accidentally injected into the soft tissue, and can automatically pause the injection before tissue damage occurs. The award winning Empower product line is the only family of CT and CTA injectors on the market that posses EDA technology. Empower CT and CTA injectors are also powered by the IRiSCT(TM) Injector Reporting Information System, a software application that automatically captures operational data from several important functions of the injector. When used to network all injector systems in a facility, IRiSCT helps consolidate data from the entire Radiology department, facilitating quantitative analysis and simplifying budgeting, while allowing busy administrators to focus on other critical management tasks.
Commenting on the release, Anthony A. Lombardo, president and chief executive officer of E-Z-EM, said, "This agreement will give Novation's alliance members an opportunity to obtain preferred pricing for our award winning Empower CT and CTA products with EDA technology. The agreement is the second significant agreement of its kind for our injector products, and we are very pleased to be working with Novation to offer Empower CT and CTA products to VHA and UHC members."
About E-Z-EM, Inc.
E-Z-EM is a leading manufacturer of contrast agents for gastrointestinal radiology. The Company is the developer of VoLumenŽ--a patent-pending, next generation low density barium sulfate suspension for use as an oral contrast in Multidetector CT (MDCT) and Positron Emission Tomography (PET/CT) studies. The Company also offers EmpowerŽ--the first family of CT injectors on the market with patented EDA(TM) technology that can help detect contrast extravasation--and offers a complete product set for the virtual colonoscopy practitioner. This product line consists of virtual colonoscopy hardware, software, nutritional prep kits and bowel cleaners, tagging agents and a carbon dioxide colon insufflation system. The Company is also the exclusive world-wide manufacturer and marketer of RSDL for military services and first-responder organizations. RSDL is a patented, broad-spectrum liquid chemical warfare (CW) agent decontaminant, that neutralizes or removes chemical agents from skin on contact, leaving a non-toxic residue that can be rinsed off with water.
The statements made in this document contain certain forward-looking statements. Words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions, are intended to identify such forward-looking statements. The forward-looking statements contained in this release may involve numerous risks and uncertainties, known and unknown, beyond the Company's control. Such risks and uncertainties include: the ability of the Company to develop its products; the impact and future sales derived from the Novation purchase agreement for Empower CT and CTA products with EDA technology, market acceptance and sales of VoLumenŽ; future actions by the FDA or other regulatory agencies, overall economic conditions, general market conditions, price increases of raw materials and components, foreign currency exchange rate fluctuations as well as the risk factors listed from time to time in the SEC filings of E-Z-EM, Inc., including but not limited to its Annual Report on Form 10-K for the fiscal year ended June 2, 2007. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements, and investors are cautioned not to place undue reliance on the forward-looking statements included in this release.
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