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MEDRAD(R) Revenues Grow 10 Percent in 2007
Date:3/4/2008

he size and shape of the prostate to provide clearer pictures needed to diagnose and stage cancer and plan targeted treatment. MEDRAD also partnered with the National Prostate Cancer Coalition (NPCC) to provide information about prostate MR imaging to thousands of men who participate in its free mobile screening program.

MEDRAD opened a new 125,000-square-foot Global Center office facility in Warrendale, Pennsylvania, which now houses 260 sales, service, customer support and general administrative employees. A new 120,000-square-foot disposables manufacturing facility was also built in Saxonburg, Pennsylvania, and went from ground breaking to start up in just 10 months. At the heart of the facility is an extensive clean room environment in which workers manufacture disposable components used to inject contrast dyes during medical imaging procedures.

MEDRAD's Heilman Center electro-mechanical manufacturing plant, located in O'Hara Township, Pennsylvania was selected as a 2007 IndustryWeek magazine "Best Plant" award winner. This award is issued annually to plants that are on the leading edge of efforts to increase competitiveness, enhance customer satisfaction and create stimulating and rewarding work environments.

MEDRAD's employee base grew almost five percent in 2007, with a net of 70 full-time employees added. The company employed over 1,700 at year-end, of which 1,200 are located in the Pittsburgh region. The company recently announced it has signed a merger agreement with Possis Medical, Inc., a Minneapolis, Minnesota-based company with approximately 280 employees, pursuant to the terms of which the company launched a public tender offer to acquire all of the shares of Possis for a price of $19.50 per share. Possis is a leading provider of mechanical thrombectomy devices used to treat narrowed or blocked arteries and veins. If the tender offer receives the required regulatory approvals, the required number of shareholders tender their share
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SOURCE MEDRAD, INC.
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