CompuMed, a Californian company, specialises in providing solutions to medical problems with the aid of computer technology. Recently, a sale of 8750 shares has been completed for $875.000 to a group of institutional and accredited investors. The proceeds of the sale will enable the company to accomplish further developments to their digital OsteoView(TM) densitometer.
This is already the second sale for the Manhattan Beach based manufacturer, under a funding commitment in order to purchase a total amount of $3.500.000 in convertible Preferred Stock. The investment sum has currently reached the height of $2.625.000 since December 1997. Engineering and design efforts to commercialise the OsteoView(TM) device will certainly pay off now as well as shareholder value will be enhanced through joint venture strategies, according to James Linesch, President of CompuMed.
The bone densitometer, OsteoView(TM), will serve as an assessment tool for osteoporosis and arthritis diagnosis. Next to this, the company is also concentrating on telemedicine services for cardiology. This has led up to on-line computer interpretation of electrocardiograms (ECGs) to support physicians as well as health care providers. In this regard, the medically applied information technology seems to offer quite useful and problem solving implementations to the benefit of both doctors and patients.