IDC ANNOUNCES ITS LARGEST VOLUME AND VALUE CONTRACT IN THE COMPANY'S HISTORY
Calgary, Canada – August 13, 2012 - Imaging Dynamics Company Ltd. (“IDC” or the “Company”) (TSX: IDL) a global leader in the high growth digital radiography (DR) equipment market, is pleased to announce that it has signed its second large volume contract with the China Charity Federation (“CCF”) to supply its DR imaging technology. This contract to supply multiple systems is valued at up to approximately $30 Million which is expected to be fulfilled over the next sixty months and marks this as its largest volume and value contract to date. The first contract with the CCF that IDC previously announced in early 2009 was for 300 units of its DR technology which has now been fully delivered and completed.
Mr. Li Bao Zhong (“Mr. Li”), Vice-President for the CCF commented, “I am pleased that the Canadian based IDC organization has been a strong supporter of the China Charity Foundation and its charitable Sunshine Medical Aid Project which has focused its efforts on providing the people of China with disaster relief, care for seniors and orphans, education, poverty relief, medical assistance, and assistance for the disabled.”
Mr. Li continued, “The IDC DR technology has shown strong performance during the fulfillment of the first contract for 300 units for the Sunshine Medical Aid Project which resulted in over 430 units from IDC being installed and it was an easy decision to select IDC for the CCF’s next major project.”
The CCF, with the strong support of the Chinese Government has created a large public awareness in the Country for their next endeavour, the Joint Mutual Love Project. This project calls for an additional 500 systems with the IDC DR technology installed in medical facilities all over the country to further enable its people access to the much needed universal medical care.
“The raised level of social influence and economic growth, along with the increased funding provided by the Government has allowed the CCF to meet its mission of providing the people of China, in all levels of society, with an increased level of patient care,” stated Mr. Li. "The Government has set aside a $67 Billion RMB budget to be spread out over the next five years and will focus on the creation of its largest digital health project to increase the level of healthcare provided specifically by small hospitals and clinics in China.”
“This contract again reinforces the confidence and trust that customers globally place on IDC’s DR technology, value proposition, and after-sales service and support,” commented Dr. Sidong Huang, Senior Vice-President for IDC. “It is a great honour to have been chosen again to provide the IDC technology to the CCF healthcare facilities across China. The installations we have made since 2009 for the CCF have received great reviews and have positively impacted the level of patient care for those who otherwise would not have had access to adequate health care facilities.”
Commenting on this award, Mr. T.T. Lee, IDC Chairman and Chief Executive Officer stated, “We are very proud and honoured to have received this multiple unit contract from the esteemed China Charity Foundation.” Mr. Lee continued, “The IDC team in China has worked very hard over the past few months and done an excellent job in the successful closing this contract. Collectively the IDC team is working on several other multiple unit contracts in the Asia Pacific region and we hope to make some positive announcements in the near future. I thank the China Charity Foundation, and in particular Mr. Li for his continued support and confidence in IDC DR technology.”
About Imaging Dynamics Company (IDC):
IDC is a medical devices technology company and innovative force in the high growth field of digital radiography (DR) technology with approximately 3000 installations in 50 countries.
Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan, Deloitte Technology and PROFIT; for its dedication to innovation, global growth, and customer focused value proposition.
IDC is based in Calgary, Alberta, Canada.
Statements in this release which describe IDC's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of IDC to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. IDC may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions. Known and unknown risks and uncertainties include: IDC's ability to manufacture its products with a sufficient level of quality and in volumes which satisfy market demand; the ability of IDC to establish direct and indirect sales channels; the ability of IDC to establish industry partnerships; IDC's ability to attract and retain key personnel; the strength and breadth of IDC's patents; and other factors relating to general economic conditions, specific industry conditions and IDC's particular situation.