News | March 04, 2008

MEDRAD Revenues Grow 10 Percent in 2007

March 4, 2008 – MEDRAD sales revenues grew to $525 million in 2007, an increase of 10 percent over the previous year, which is expected to grow further should the merger with Possis be completed.

MEDRAD recently signed a merger agreement with Possis Medical Inc. for a public tender offer to acquire all of the shares of Possis for a $19.50 per share. Possis is a leading provider of mechanical thrombectomy devices used to treat narrowed or blocked arteries and veins, and if the merger is consummated, Possis will become the cornerstone of MEDRAD's cardiovascular strategy.

Computed Tomography (CT) product innovations were led by new extravasation detector technology that, when properly employed, directly senses extravasation pooling of contrast agent under the skin during a CT scanning procedure.

The company's Magnetic Resonance (MR) endorectal coil was upgraded to be compatible with the new versions of scanners recently launched by the major scanner manufacturers. The coil continues to conform to the size and shape of the prostate to provide clearer pictures needed to diagnose and stage cancer and plan targeted treatment.

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