CALGARY, Sept. 10, 2012 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX: IDL) a global leader in the high growth digital radiography (DR)
equipment market, is excited to announce the incorporation of its Hong
Kong subsidiary. Imaging Dynamics Company (Hong Kong) Limited ("IDC Hong Kong") is a wholly owned entity of Imaging Dynamics Company Limited ("IDC" or the "Company") based in Calgary, Alberta, Canada.
Under the direction of new Chairman and Chief Executive Officer, Mr. T.
T. Lee, together with the Executive Management team, are pleased to
report that since the announcement of the successful closing of its
private placement in mid-July 2012, the Company has been working
diligently toward a strategic growth plan to re-emerge as a leader in
the competitive medical imaging market.
IDC Hong Kong will be a fully staffed business office structured to
manage the increasing business in the target market of Asia Pacific.
Under the direction of the IDC head office based in Canada, this new
entity in Hong Kong will allow the Company to better respond and
support the broad install base in this region and help drive the
projected high growth strategy for this market segment by introducing
new products and services.
Mr. T. T. Lee, IDC Chief Executive Officer commented on this
development, "Many high tech manufacturing companies based in North
America have moved their manufacturing to Asia Pacific for economic
reasons. While this is a contributing factor to our decision, we expect
this new office in Hong Kong to drive the development of new business
for IDC and support its existing customers in the region." Lee
continued, "I strongly believe this strategic move will provide
significant benefits at all levels, supported by the current IDC
Representative office in Beijing, China under the direction of Dr.
Sidong Huang, Senior Vice President for IDC."
"It has been a long-term goal to launch strategic offices in target
markets and together with the support of our new CEO, Mr. T. T. Lee, we
now see a shift in the IDC business as the Company focuses on
introducing new products and services for this high growth Asia Pacific
region," commented Mr. Swapan Kakumanu, President and Chief Financial
Officer of IDC. "At our Annual General Meeting of Shareholders held in
July 2012, we communicated our plan to have a larger presence in the
Asia Pacific region to grow market share and diversify with additional
products and services. The establishment of IDC Hong Kong is the first
step in that growth plan," stated Kakumanu.
The Company as a whole will continue to investigate new business
opportunities as it focuses efforts on providing innovative technology
to meet the growing needs of the global medical imaging market.
About Imaging Dynamics Company (IDC):
IDC is a medical devices technology company and innovative force in the
high growth field of digital radiography (DR) technology with
approximately 3000 installations in 50 countries. IDC's product line of
CCD-based X-Series direct capture technology and new innovaXion Flat
Panel technology replaces conventional film-based diagnostic imaging
and provides a cost-effective solution for producing high quality
diagnostic images, enhancing patient care and improving workflow; all
without the use of film, environmentally unfriendly chemicals, and
Throughout its history, IDC has been recognized by multiple industry
organizations and research analysts such as: Frost & Sullivan, Deloitte
Technology and PROFIT; for its dedication to innovation, global growth,
and customer focused value proposition.
IDC head office is based in Calgary, Canada with business offices in
Hong Kong and China.
Visit the IDC Web site: www.imagingdynamics.com
Statements in this release which describe IDC's intentions, expectations
or predictions, or which relate to matters that are not historical
facts are forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties which may cause the
actual results, performances or achievements of IDC to be materially
different from any future results, performances or achievements
expressed in or implied by such forward-looking statements. IDC may
update or revise any forward-looking statements, whether as a result of
new information, future events or changing market and business
conditions. Known and unknown risks and uncertainties include: IDC's
ability to manufacture its products with a sufficient level of quality
and in volumes which satisfy market demand; the ability of IDC to
establish direct and indirect sales channels; the ability of IDC to
establish industry partnerships; IDC's ability to attract and retain
key personnel; the strength and breadth of IDC's patents; and other
factors relating to general economic conditions, specific industry
conditions and IDC's particular situation.
SOURCE: Imaging Dynamics Company Ltd.
For further information:
Mr. Swapan Kakumanu
President & Chief Financial Officer
Ms. Michelle Brown
Director, Global Marketing & Business Development