Posted on: Tue, 29 Jun 2010 13:48:00 EDT
Symbols: IDL, IDYLF
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CALGARY, Jun 29, 2010 (Canada NewsWire via COMTEX) --
Project Expected to Assist China Aid Efforts with Implementation over Next 36 Months
IDC (Imaging Dynamics Company Ltd.) (TSX: IDL | PowerRating), is pleased to announce it has been awarded a contract by the China Foundation for Poverty Alleviation (CFPA) to supply 600 rural and remote counties in China with its proprietary CCD-based digital radiography (DR) imaging technology. This is the single largest OEM contract IDC has been awarded to date and exceeds the previous contract* awarded to IDC in January of 2009 by the China Charity Federation (CCF) for 300 of its CCD-based DR imaging detectors.
The China Foundation for Poverty Alleviation together with the State Council Poverty Alleviation Office, the Ministry of Health, and the State Administration of Traditional Health, founded a special charity; the Angel Project in 2004. The primary focus of the Angel Project is to provide basic living, healthcare, education, training and financial funding to assist rural and remote areas with poverty and disaster relief and also decrease the emergence of healthcare epidemics.
To date, the China Foundation for Poverty Alleviation Angel Project has invested over 160 Million dollars into 21 provinces, 216 counties, many municipalities and autonomous regions. The impoverished people of these regions have benefitted from the efforts of the Angel Project in numerous ways such as; increased building of healthcare facilities, funding for the purchase of medical equipment, and the hiring of much needed healthcare specialists. A major project also funded by the Angel Project was the implementation of an electronic information management system to store, share and communicate critical patient history and medical information with Doctors in mainland hospitals.
Ms. Sheng Minhua, the Chief Director for the project cooperation department of the China Foundation for Poverty Alleviation stated, "With the assistance and support of the Chinese Government the China Foundation for Poverty Alleviation and the Angel Project have made a tremendous social and economic impact in many areas of China." Ms. Sheng added, "The Angel Project focuses on providing medical and poverty relief; and notes the importance of the participation of Imaging Dynamics Company and its high-tech digital imaging technology in these efforts. The decision to make the investment in the proven IDC digital radiography technology is a critical step to providing high-quality diagnostic equipment in these remote poverty-stricken areas especially those that have suffered natural disasters in the past few years."
"The CFPA has very stringent requirements and guidelines; IDC was awarded the significant contract to supply our CCD-based DR technology to 600 rural and remote counties in China after a comprehensive and thorough competitive evaluation," states Mr. Sidong Huang, Vice President and General Manager of IDC's Asia Pacific region. "It is a great honor to have been chosen to provide the vast number of healthcare facilities in China supported by the China Foundation for Poverty Alleviation with the technology to capture high resolution diagnostic images and improve the level of patient care for those who normally wouldn't have access to adequate healthcare facilities."
"IDC is extremely proud to have been chosen by the China Foundation for Poverty Alleviation as its sole digital radiography provider for its healthcare facilities," states Mr. Tom Boon, President and Chief Executive Officer, IDC. "This contract is a phenomenal testament to IDC's CCD-based DR technology and will further strengthen IDC's position as a leading DR provider in China and in the global DR market."
*The China Charity Foundation contract is still being fulfilled on an as-ordered basis.
About the China Foundation for Poverty Alleviation (CFPA):
In response to the State Council on the call of building a harmonious society, the concept of innovative medical and health relief and aid modalities, to improve the relevance of medical and pharmaceutical donations, accuracy and effectiveness, enhance the urban community medical services, to maximize the public to avoid health emergencies from occurring, and to decrease the poverty phenomenon.
In August 2007, the China Foundation for Poverty Alleviation, together with the China Medical Education Association launched a "community health assistance program." Donations for the poor Central and Western regions of China were put towards the funding of the number of community health services management platform and the purchase of computers, medicine, medical aid and medical devices.
For more information on the CFPA, please visit: www.fupin.org.cn
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. IDC's product line of CCD-based X-Series direct capture technology replaces conventional film-based diagnostic imaging and provides a cost-effective alternative to flat panel (TFT) technology and computed radiography (CR) systems.
Each IDC DR solution provides high resolution radiographic images in the digital format required for today's PACS (Picture Archiving & Communication Systems) and the growing requirements for the electronic health record, all without the use of film, environmentally unfriendly chemicals, cassettes or expensive imaging plates.
Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan, Deloitte Technology, MD Buyline, KLAS Enterprises and PROFIT; for its consistent dedication to innovation, global growth and customer focused value proposition.
IDC is based in Calgary, Alberta, Canada. 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 Investor Relations inquiries: Mr. Swapan Kakumanu, Chief Financial Officer, IDC,
1.866.975.6737, investor@imagingdynamics.com; For Public Relations inquiries: Ms.
Michelle Naismith, Marketing Manager, IDC, 1.866.975.6737,
mnaismith@imagingdynamics.com
For full details on (IDL) IDL. (IDL) has Short Term PowerRatings at TradingMarkets. Details on (IDL) Short Term PowerRatings is available at This Link.
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