Wednesday May 23, 1:36 pm Eastern Time
Press Release
Vasomedical Recognized as One of the Top Public Companies On Long Island
WESTBURY, N.Y.--(BW HealthWire)--May 23, 2001--Vasomedical, Inc. (Nasdaq: VASO - news) announced today that it was among the winners of the Sixth Annual Long Island Top Public Company Awards sponsored by the tax and consulting firm KMPG LLP, Long Island Business News, and Hofstra University.
The awards recognized outstanding achievements made last year by leading companies based in Nassau and Suffolk counties in New York State. Specific honors were awarded in five categories, including Share Price Appreciation, Revenue Growth, Largest Market Capitalization, Largest Increase in Market Capitalization, and Largest Increase in Employees. Vasomedical was among the top five winners in the categories for Largest Increase in Revenue and Largest Share Appreciation, with a 128% increase in FY2000 revenues and in a 126% increase in share appreciation for the calendar year ending December 31, 2000. The honors were awarded at a luncheon on held at the campus of Hofstra University on May 22nd.
``We are pleased to have been recognized as one of the Top Public Companies on Long Island,'' said D. Michael Deignan, President and CEO of Vasomedical. ``This award reflects the success we've achieved in advancing the validation of EECP® therapy as a treatment for angina, and in accelerating its adoption among cardiologists. With recent data supporting the sustained benefit of EECP at two years following treatment, the initiation of the PEECHTM trial into the efficacy of EECP in treating Congestive Heart Failure, and the expansion of our marketing efforts in the European Union, we expect this acceleration to continue. This award puts us in the company of some of the largest corporations in the country, including Comverse Technology, Cablevision Systems, and Computer Associates, and we are honored to be included in such an exclusive group. These awards speak highly of the business environment here on Long Island, from which we derive significant support from our investor base.''
EECP® is a noninvasive, outpatient therapy for the treatment of diseases of the cardiovascular system. The therapy serves to increase circulation in areas of the heart with less than adequate blood supply and may restore systemic vascular function. EECP is currently indicated for use in patients with stable or unstable angina, acute myocardial infarction and cardiogenic shock. The company is actively engaged in research to determine potential benefits of EECP therapy in the management of other major vascular disease states including diabetes.
Vasomedical, Inc. is primarily engaged in designing, manufacturing, marketing and supporting external counter pulsation systems based on the Company's proprietary technology currently indicated for use in cases of angina, cardiogenic shock and acute myocardial infarction. EECP® is a registered trademark for Vasomedical's enhanced external counterpulsation system. This system is now in use at major medical centers, including the Beth Israel Medical Center - New York City, Christ Hospital and Medical Center, the Cleveland Clinic, Johns Hopkins, JFK Medical Center-Atlantis, FL, Mayo Clinic, the Miami Heart Institute, the Ochsner Foundation Hospital, the Texas Heart Institute, and University Hospital at UMDNJ/New Jersey Medical School as well as medical centers affiliated with Columbia University, State University of New York at Stony Brook, the University of Pittsburgh, the University of California at San Diego, the University of California at San Francisco, University of Florida at Gainesville, and the University of Virginia. The Company provides hospitals, clinics and private practices with EECP® equipment, treatment guidance and a staff training and maintenance program designed to provide optimal patient outcomes. Additional information is available on the Company's website at www.vasomedical.com.
Except for historical information contained in this release, the matters discussed are forward looking statements that involve risks and uncertainties. When used in this release, words such as ``anticipate,'' ``believe,'' ``estimate,'' ``expect'' and ``intend'' and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments
AI
