Ampeak Energy Regulatory News (AMP)

10 Oct 2005 07:00

Amphion Innovations PLC10 October 2005 Amphion Innovations PLC Acquires a 30% stake in Medical Imaging Company London, UK, 10 October 2005: Amphion Innovations PLC ("Amphion"), the developerof life sciences businesses, has invested $1 million in Supertron Technologies,Inc taking Amphion's stake to approximately 30% on a fully diluted basis.Supertron is a private US business developing high performance medical imagingproducts that are able to dramatically improve the imaging capabilities of anMRI scanner. These scanners address the rapidly expanding opportunities thatare developing in the clinical and pre-clinical global MRI imaging markets,valued at approximately $6 billion. Supertron's products dramatically improve the imaging capabilities ofconventional MRI scanners. The products greatly enhance the MRI image quality,reduce scan time in existing scanners and greatly lower the cost. Supertron isalso targeting emerging MRI research applications in the fields of molecularimaging, image-guided therapeutics, image-guided surgery, and orthopaedicsimaging. The Company is currently developing a number of next-generation MRIproducts in neuro imaging and pre-clinical imaging. In addition, the Company,with Harvard University as its partner, has won a $2.0 million AdvanceTechnology Grant to accelerate the development of advanced MRI neuro-imaging. Amphion also announces today the appointment of Richard Hullihen as new CEO ofSupertron. Mr. Hullihen is a 25 year veteran of the medical imaging industry.While working at GEC-Picker International and Marconi Medical Systems, MrHullihen held a variety of technology development and leadership positions intheir MRI and Healthcare Information Systems businesses in bringing newtechnologies to global product markets. Mr Hullihen will replace the interimCEO Mr Joseph Flicek, managing director of Amphion, who will remain on theBoard. Robert Bertoldi, president of Amphion, will also join the Supertron Boardas Chairman. Richard Hullihen, the new CEO of Supertron, said: "Amphion's strong experiencein the imaging marketplace and its unique approach to growing life sciencesbusinesses will help Supertron in its quest to become a successful participantin this strong growth marketplace." Richard Morgan, CEO of Amphion, added: "Amphion has had considerable previoussuccess in the medical imaging industry with the successful formation and growthof Vortech Data, which was acquired by Kodak for $130 million. Richard Hullihenis a key appointment for the business and his experience in this industry andproven leadership qualities are just what Supertron needs at this stage of itsdevelopment." Enquiries: Amphion Innovations PLC 44 (0) 20 7016 8821Richard C.E. Morgan, Chief Executive OfficerRobert Bertoldi, President and CFO +1 212 210 6201 Financial Dynamics 44 (0) 20 7831 3113Ben Atwell / John Gilbert Notes to editors About Amphion Amphion Innovations plc recently listed on the AIM Exchange in London under thesymbol AMP. Amphion's business is the formation, financing, management anddevelopment of life science and technology companies, working in partnershipwith corporations, governments, universities and entrepreneurs seeking tocommercialise their intellectual property. www.amphionplc.com About Supertron Technologies Inc Supertron Technologies, Inc. a spin-out from Columbia University in New York andbased in Newark, New Jersey, develops, manufactures and markets electroniccomponents and systems based on cryo-cooling and high temperaturesuperconductors' technologies for Magnetic Resonance Imaging (MRI). The Companyis targeting clinical and pre-clinical applications for neurological, cardiac,drug discovery, and image guided therapy applications. Supertron's productswill be used in a variety of clinical applications for the diagnosis and stagingof disease, and the monitoring of therapeutics effects in pre-clinical studiesin drug discovery. Supertron has Federal and State grants in-hand, supportingits market leading MRI developments. For further information on the company the please visit www.supertron.com orcontact Richard Hullihen on +1 973 639 1112 extension 108. This information is provided by RNS The company news service from the London Stock Exchange