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:2/24/2017)... , ... February 24, 2017 , ... ... Charlevoix, once again hosted their Military Wedding Giveaway, with the winning couple announced ... Castle Farms with services generously donated from local vendors: A Matter of Taste, ...
(Date:2/23/2017)... ... 23, 2017 , ... On February 22, 2017 the U.S. ... to withdraw previous guidance issued by the Obama Administration requiring schools to treat ... 2016 by the Obama Administration came in response to a growing number of ...
(Date:2/23/2017)... , ... February 23, 2017 , ... ... devoted exclusively to funding innovative lymphoma research and serving the lymphoma community through ... return to the La Gorce Country Club in Miami Beach to host its ...
(Date:2/23/2017)... ... , ... The American Cleft Palate-Craniofacial Association (ACPA) is pleased to announce KLS ... longtime supporter of the event. , "We are pleased that KLS Martin is joining ... 2017 ACPA President. "KLS Martin has a long track record of support of the ...
(Date:2/23/2017)... ... 2017 , ... Hamlin Dental Group and Dr. Hamid Reza, dentist in ... the month of February, patients who visit Hamlin Dental Group will receive a ticket ... two at the Cheesecake Factory. , Tickets are available for routine dental visits ...
Breaking Medicine News(10 mins):
(Date:2/23/2017)... Research and Markets has announced the addition of the "Menopause ... ... Drugs Price Analysis and Strategies - 2016, provides drug pricing data and ... questions: What are the key drugs marketed ... Global Menopause market? What are the unit prices and ...
(Date:2/23/2017)... Feb. 23, 2017 Research and Markets has ... Strategies - 2016" report to their offering. ... The latest research Fibromyalgia Drugs ... benchmarks in the global Fibromyalgia market. The research answers ... drugs marketed for Fibromyalgia and their clinical attributes? How are they ...
(Date:2/23/2017)... , February 23, 2017 Obese ... increasing caseload for varicose veins in their body. The ... are prompting the adoption of endovenous laser therapy for ... endovenous laser therapy market, published by Future ... lifestyle choices and consequences of obesity have collectively factored ...
Breaking Medicine Technology: