CALGARY, Sept. 27, 2013 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX:IDL), announced today that the Company had reached an understanding with Kangda Medical Equipment International Group ("Kangda") on purchases of IDC's digital radiography (DR) through the end of 2014. As a first step, IDC has received an initial firm purchase order/contract for 9 digital radiography x-ray systems.
Kangda is a major worldwide China-based manufacturer of disposable medical and pharmaceutical products for clinics and hospitals. The Company recently closed a non-brokered private placement of 300,000,000 common shares in the capital of the Company (the "Common Shares") with Kangda International Medical Canada Company Ltd. ("Kangda Canada") (the "Private Placement"). The Private Placement coincided with a sale by Belfry Medical Holdings Ltd. of 200,000,000 Common Shares to Kangda Canada. Kangda Canada is a recently formed Canadian corporation that is associated with Kangda Medical Equipment International Group ("Kangda"). The investment in the Common Shares is a strategic initiative for Kangda.
Mr. Sidong Huang, President and Chief Executive Officer of the Company, stated as follows: "We are very pleased with this first step in building and implementing a new sales and distribution arrangement with Kangda. We hope to have additional news regarding our relationship with Kangda to announce in the coming weeks."
About Imaging Dynamics Company (IDC):
IDC is a global medical imaging technology provider and innovative force in the high growth field of digital radiography (DR) technology.
The Company has over 3,000 installations in 50 countries of its proprietary, award winning direct capture DR technology, which replaces conventional film-based diagnostic imaging and provides a cost-effective solution for medical facilities of all sizes to provide high quality diagnostic X-ray images and improve the level of healthcare for their patients.
Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan and Deloitte Technology; for its dedication to innovation, global market growth, and customer focused value proposition.
The Company has its corporate office in Calgary, Canada, a business office in Hong Kong, and a representative office in Beijing, 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:
President and Chief Executive Officer
1.866.975.6737 Toll Free
Ms. Anna Lentz
Chief Financial Officer
1.866.975.6737 Toll Free