Pharm Assist..the BIG picture!
The company's Nuclear Pharm-Assist® technology is set to reshape the radiopharmaceutical distribution in the nuclear cardiac imaging space. Analysts believe Positron will generate extraordinary revenues selling radiopharmaceutical consumables to the large customer base that exists today for SPECT radiopharmaceuticals (7,000+ opportunities) and will leverage the same base as the SPECT industry migrates to PET as the #1 cardiac imaging modality in the world.
"The device is like a large refrigerator that is an automated virtual pharmacy," explains Rooney. "The way the world works now, is that if you are looking for an image of your heart, your doctor calls the radio pharmacy and they order a dose syringe cocktail. It arrives and you get an injection with it. Currently, companies like Cardinal Health and GE Healthcare control this market and radio pharmacies deliver the radio pharmaceuticals. What our device does is that it compounds what you need on site, so literally we can install these devices at your cardiologist's office and when you walk in, they don’t say 'Hey, come back tomorrow so we can order you a does of radioactivity. With us, you hit some buttons and it comes out of this vending machine, if you will.
"So now literally, instead of opening up brick and mortar for $3 million and selling pharmaceuticals, we can install this inexpensive automated device that is compliant with all United States regulations on exposure issues and you can literally walk in; they hit some buttons and boom! A cocktail comes out in a syringe. They inject you and you get imaged on the spot. It works in emergency rooms- obviously that would work well- but it also works in cardiology offices where it's about patient management, It provides inventory control, it lower exposure issues and, quite frankly, it lowers cost across the board because there is less drive time, less gas consumption, etc.
"We're ready to bring in the imaging, and now we can also bring in the dose dispensing. We're going to have the full solution so that we can say 'hey doctor, we'll install the PET camera as either a rental or a sell and as far as dispensing pharmaceuticals, here's your vending machine. And just like someone who puts in a vending or soft-drink machine, we sell the products and make our profits there. This device is just basically handed out. It's the same methodology and what happens is that now, we bring everything together. We can sell drugs and cameras to the cardiologist and all of it at a better price, with more efficiency and more effectiveness. That's how we deal with our market."
