Navigation Links
Pro-Dex, Inc. Provides Updates on Key Developments
Date:4/16/2008

Company announces signing of new Development and Supply Agreement

Company expands Business Development capability

SANTA ANA, Calif., April 16 /PRNewswire-FirstCall/ -- PRO-DEX, INC. (Nasdaq: PDEX) announced today the completion of two key objectives that keeps the Company on a path to accelerated sales growth.

The Company announced that it has recently entered into a new Development and Supply Agreement with an existing customer in the orthopedic market. This is the same customer that the Company announced last year would be taking over the manufacture of its own product, a decision the customer subsequently reversed. Revenue from the development services to be provided by Pro-Dex are estimated at $250,000 over the next 12 months. Upon successful completion of the development services, Pro-Dex expects first-year sales of the newly developed device to be approximately $2.4 million. Launch of the new product is targeted for the next annual meeting of the American Academy of Orthopedic Surgeons in March of 2009.

Commenting on the Agreement, Pro-Dex's Executive Vice President, Patrick Johnson said, "We're pleased to announce the signing of our third major agreement this fiscal year. It is further confirmation that Pro-Dex's value proposition is attractive to the medical device market, and that we can effectively identify and capitalize on new opportunities. The signing of this Agreement is particularly satisfying as it marks a new beginning for a long-time customer relationship, a relationship that had become strained over the years but has been revitalized through powerful collaboration."

The Company also announced the re-hiring of James McKenney as its new Regional Director of Business Development. Mr. McKenney had previously worked for the Company in the position of Director of Sales and Marketing for its Santa Ana business group. "We are really excited about Jim re-joining Pro-Dex," commented Mr. Johnson. "He was a great contributor in the five years he previously worked for the Company and we are confident that he will make a significant contribution in this new role. Jim will be based in Florida where we already have several important medical device customers and where there are several other major potential new customers. Jim will focus on the accelerated growth of our medical device business, including the sales of motors designed and manufactured by our Carson City business unit."

Commenting on these developments, Mark Murphy, Pro-Dex's Chief Executive Officer said, "Over the last 18 months, we have invested in engineering, quality, and manufacturing to improve our ability to deliver on our value proposition. The signing of this third major agreement and the hiring of Jim McKenney are evidence of our intent to grow the top line. As we move into our new Irvine, California facility on April 28th, we will have a strong platform (both human and physical assets) from which to build the size and profitability of Pro-Dex."

Pro-Dex, Inc. specializes in Accelerating Possibilities in the development and manufacture of technology-based solutions that incorporate embedded motion control, miniature rotary drive systems and fractional horsepower DC motors, serving the medical, dental, semi-conductor, scientific research and aerospace markets. Pro-Dex's products are found world-wide in hospitals, dental offices, medical engineering labs, scientific research facilities, commercial and military aircraft, and high tech manufacturing operations. For more information, visit the Company's website at http://www.pro-dex.com.

Statements herein concerning the Company's plans, growth and strategies may include 'forward-looking statements' within the context of the federal securities laws. Statements regarding the Company's future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The Company's actual results may differ materially from those suggested as a result of various factors. Interested parties should refer to the disclosure concerning the operational and business concerns of the Company set forth in the Company's filings with the Securities and Exchange Commission.


'/>"/>
SOURCE Pro-Dex, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. ECO2 Plastics, Inc. Reports 2007 Year End Financial Results, Announces FDA Filing and Provides Outlook for 2008
2. ApothecaryRx Provides Exit Strategy for Boomer Pharmacy Businesses; Sustains Service and Communication Structure of Community Pharmacies to Improve Drug Compliance, Reduce Drug Errors
3. Legal Aid Provides Access to Justice for Victims of Violent Crime
4. PreMD Provides Update on FDA Review
5. Publication Provides a Wake-Up Call For Clinicians Treating Narcolepsy
6. American Media, Inc. Provides Lenders With Updated Information
7. DURECT Provides Update on CHRONOGESIC(R) Research Program
8. LIFE Provides Medical Books and Surgical Supplies to Iraq
9. Comfort C(R) Provides Significantly Higher Absorption Than Other Leading Brand
10. Institute for Integrative Nutrition Provides Tips to Transition Bodies for Fall, Winter, Spring, Summer Eating
11. Flagship Global Health Provides 2008 Financial Guidance
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/28/2016)... ... ... May 26, 2016- In search of the K. Warriors, Shaolin Institute is ... Warriors” on June 4, 2016 at Ashbury Hotel and Suites 600 West Interstate 65 ... by Shaolin Institute and sanctioned by KSF (Kungfu Sanda Federation), This is the 28th ...
(Date:5/27/2016)... ... May 27, 2016 , ... Two director-level employees of Horizon ... to Women and Industry (TWIN) 2016 honorees. The award recognizes businesswomen who excel ... year, Geri Boone, Director of the MLTSS (Managed Long-Term Services and Supports) Program at ...
(Date:5/27/2016)... ... 27, 2016 , ... An educational campaign aimed at everyone ... courtesy of awareness-driven celebrities and thought leaders. It also provides insight to the ... leaders such as Bioness. , As patients feel increasingly concerned about the ...
(Date:5/27/2016)... (PRWEB) , ... May 27, 2016 , ... ... in scholarships to students studying complementary medicine. Allison Outerbridge is this year’s ... her award on May 18 at the university’s Student Leadership Awards ceremony. , ...
(Date:5/26/2016)... ... May 26, 2016 , ... ... thousands of defective respirators, according to court documents and SEC filings. A ... and Becky Tyler v. American Optical Corporation, Case No. BC588866, Los Angeles County, ...
Breaking Medicine News(10 mins):
(Date:5/27/2016)... 27, 2016 Kitov ... focused on late-stage drug development, today announced the ... of pivotal batches required for registration of KIT-302 ... This follows Kitov,s announcement in December ... met its primary efficacy endpoint. "We ...
(Date:5/26/2016)... A key trend that will ... of new treatments. Cardax, a development stage life sciences ... therapy is expected to fulfil large unmet medical needs ... studies to develop new treatments for osteoarthritis. One such ... in osteoarthritis are being investigated, and early trials of ...
(Date:5/25/2016)... , May 25,2016 ... the near-infrared Cellvizio platform for urological and surgical ... OTCQX: MKEAY) inventor of Cellvizio®, the multidisciplinary confocal ... regulatory milestone in the US with the 12 ... and Drug Administration (FDA). This new FDA clearance ...
Breaking Medicine Technology: