BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Ophthalmic Imaging Systems (OISI) Raises $2.0 Million From Final Installment of Accelerated Technologies, Inc. Investment


5/27/2010 10:35:46 AM

SACRAMENTO, CA--(Marketwire - May 27, 2010) - Ophthalmic Imaging Systems ("OIS" or "the Company") (OTCBB: OISI), a leading ophthalmic digital imaging and informatics company, today announced it has raised $2.0 million from the second and final installment under a June 2009 purchase agreement with U.M. AccelMed, LP ("AccelMed").

The final installment was completed on May 26, 2010, and consists of 3,581,089 shares of OIS common stock at a purchase price of $0.558 per share and warrants to purchase 1,193,696 shares of OIS common stock at $1.00 per share. The warrants will expire June 23, 2012. The Company intends to use proceeds from this investment for working capital and general corporate purposes.

The first installment of approximately $4.0 million was completed on June 24, 2009. In that installment OIS sold 9,633,228 shares of common stock at a purchase price of $0.415 per share and issued three-year warrants to purchase up to 3,211,076 shares of common stock at $1.00 per share.

"We are very encouraged by AccelMed's continued support and confidence in the Company as evidenced by this second investment at a higher valuation compared with the first," stated Gil Allon, Chief Executive Officer of OIS. "We are pleased to have achieved the related electronic medical records sales milestone."

About Ophthalmic Imaging Systems
Ophthalmic Imaging Systems (www.oisi.com) is the leading provider of ophthalmic digital imaging and informatics systems. The Company designs, develops, manufactures and markets digital imaging systems, image management and integrated EMR/practice management solutions for the eye care market. With more than 25 years in the ophthalmic imaging business, the Company has consistently introduced new, innovative technologies. Through its wholly-owned subsidiary, Abraxas Medical Solutions, the Company provides electronic medical records and practice management software to OB/GYN, orthopedic and primary care physicians. The Company markets and supports its products through an extensive network of dealers, distributors and direct representatives.

About AccelMed
AccelMed is an investment firm focusing on established, late-stage medical device companies. It was founded by Mori Arkin and Uri Geiger, and is led by a team of accomplished investment professionals with extensive experience in the medical and life science fields. AccelMed makes strategic investments in promising high-gross companies in Israel and the U.S. For more information see www.accelmed.co.il.

Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the Company's control, which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.


CONTACTS:
Gil Allon
CEO
Ariel Shenhar
CFO
(916) 646-2020

INVESTOR RELATIONS
John W. Heilshorn
Lippert/Heilshorn & Associates
212-838-3777

OPHTHALMIC IMAGING SYSTEMS
221 Lathrop Way, Suite I
Sacramento, CA 95815



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->