MINNEAPOLIS, July 26 /PRNewswire-FirstCall/ -- HEI, Inc. ( http://www.heii.com/ ) today announced that its Advanced Medical Operation based in Boulder, Colorado has secured an exclusive contract with Sensys Medical, Inc. for design and development of the final manufacturing configuration for a diagnostic system for blood glucose monitoring. The contract is estimated at $1.3M.
"We are very pleased with booking the design and development of this diagnostic system. It is an excellent fit with our skill set, and we look forward to executing a manufacturing agreement upon the successful completion of this development program," stated Simon Hawksworth, Vice-President of Sales and Marketing. "Key factors in our customer's decision were our quality systems and our manufacturing capabilities at our Boulder, Colorado facility."
Sensys Medical, formerly Instrumentation Metrics, has been focused on developing and commercializing non-invasive blood glucose measurement technology that can dramatically advance the practice of blood glucose monitoring and the science of diabetes disease management. http://www.sensysmedical.com/home.html
HEI, Inc. designs, develops and manufactures microelectronics, subsystems, systems, connectivity and software solutions for OEMs engaged in the medical equipment and medical device, hearing, communications and RFID industries. HEI provides its customers with a single point of contact that can take an idea from inception to a fully functional, cost effective and manufacturable product utilizing innovative design solutions and by the application of state- of-the-art materials, processes and manufacturing capabilities.
Headquarters & Microelectronics PO Box 5000, 1495 Steiger Lake Lane,
Operations Victoria, MN 55386
Advanced Medical Operations 4801 North 63rd Street,
Boulder, CO 80301
High Density Interconnect 610 South Rockford Drive,
Operations Tempe, AZ 85281
RF Identification and Smart Card 1546 Lake Drive West,
Operations Chanhassen, MN 55317
Information in this news release, which is not historical, includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release, including the implementation of business strategies, including a stronger sales emphasis; growth of specific markets; improved results, profitability, cash flow, margins, and revenues; and estimated HEI revenues, cash flow, expenses and profits, are forward looking statements. All of such forward-looking statements involve risks and uncertainties including, without limitation, continuing adverse business and market conditions, the ability of HEI to secure and satisfy customers, the availability and cost of materials from HEI's suppliers, HEI's ability to satisfy financial or other obligations or covenants set forth in its banking agreements, adverse competitive developments, change in or cancellation of customer requirements, the integration of the Advanced Medical Operations, collection of outstanding debt, HEI's ability to succeed on the merits and defend against litigation, and other risks detailed from time to time in HEI's SEC filings. HEI undertakes no obligation to update these statements to reflect ensuing events or circumstances, or subsequent actual results.