Cedara Software Announces the Appointment of Two Directors to Replace Analogic Appointees
08 Noviembre 2004 - 3:15PM
PR Newswire (US)
Cedara Software Announces the Appointment of Two Directors to
Replace Analogic Appointees TORONTO, Nov. 8 /PRNewswire-FirstCall/
-- Cedara Software Corp. (NASDAQ:CDSWNASDAQ:andNASDAQ:TSX:CDE) a
leading independent developer of medical software technologies for
the global healthcare market, announced today the appointment of
two new Directors to its Board, R. Ian Lennox and Dianne Lister.
Ian Lennox is currently Chairman of the Board, Stressgen
Biotechnologies Corporation of San Diego, Lead Director of KBSH
Capital Management Inc of Toronto and a Director of MSBi Ventures
of Montreal. He was formerly President and CEO of MDS
Pharmaceutical and Biotechnology Markets (2002-2004); President and
CEO of MDS Drug Discovery and Development Sector (2000-2002);
President and CEO of Phoenix International Life Sciences
(1999-2000); Chairman and CEO of Drug Royalty Corporation Inc.
(1996-2002); and, President and CEO of Monsanto Company Canada
(1991-1997). Mr. Lennox holds an MBA and a HSBc. (Dean's List -
Physiology & Pharmacology) from the University of Western
Ontario. Dianne Lister is founder of The Dianne Lister Group, a
national consulting firm providing strategic counsel for the
non-profit and philanthropic sectors. From 1993-2003 she was
President and Chief Executive Officer of The Hospital for Sick
Children Foundation which raises over $50 million annually. The
endowment base quadrupled from $100 million to $425 million during
her tenure. A graduate of Trent University, and Osgoode Hall Law
School, Ms. Lister previously practiced law as a child welfare
lawyer and litigator. Mr. Lennox and Ms. Lister replace Analogic
Corporation (NASDAQ:ALOGE) appointees, Bernard M. Gordon, Analogic
Founder, Chairman Emeritus, and a member of its board of directors;
and John J. Millerick, Analogic's Senior Vice President and CFO. In
September of 2001, Analogic acquired a then 19% interest in Cedara
Software Corporation which included the right to two seats on
Cedara's Board. In summarizing the purpose of that agreement, Mr.
Gordon said that Analogic and Cedara had major customers in common
and shared complementary technologies. By forming a relationship,
the two companies could expand their capabilities and offer a
broader range of products and services to their OEM (Original
Equipment Manufacturer) customers. John Millerick noted today that,
"Cedara has effected a dramatic turnaround over the past two years
and is now well positioned for continuing growth. Analogic's
original objectives in investing in Cedara have been accomplished.
We intend to maintain a close working relationship with the
company. Cedara, for example, provides advanced image-processing
and document workflow software to ANEXA(TM), our subsidiary that
provides next-generation, digital imaging solutions to select
end-user markets such as orthopedic and trauma centers." "This
announcement is extremely good news for Cedara and demonstrates the
continued progress of the company", said Abe Schwartz, Cedara
President and CEO. "I am delighted to welcome Ian Lennox and Dianne
Lister to Cedara's Board of Directors. Cedara's ability to attract
such high-caliber Board members is a testament to the company's
recent accomplishments." "I would also like to thank Bernard
Gordon, Analogic's founder, and John Millerick, Analogic's CFO for
all that they have done for Cedara. Analogic rescued Cedara in 2001
and has continued to support Cedara until it was able to effect the
dramatic turnaround over the last two years. Today, there is a
clear and growing perception in both the financial markets and the
medical industry that Cedara is now more than strong enough to
stand on its own feet. Analogic continues to act in Cedara's best
interests by recognizing this. Analogic has also benefited from its
relationship with Cedara both financially and operationally. Cedara
and Analogic's close business relationship will continue. Cedara is
excited with what Analogic is doing through its ANEXA subsidiary.
At the same time, Analogic is excited about what Cedara is doing
with its recent acquisition, eMed Technologies Corporation. Working
together, we are optimistic about our future mutual opportunities,"
said Mr. Schwartz. Analogic currently holds 4,580,461 shares of
Cedara Software Corporation, which represents 14.6% of Cedara's
outstanding shares. Analogic Corporation is a leading designer and
manufacturer of advanced health and security systems and subsystems
sold primarily to Original Equipment Manufacturers (OEMs). The
Company is recognized worldwide for advancing the state of the art
in Computed Tomography (CT), Digital Radiography (DR), Ultrasound,
Magnetic Resonance Imaging (MRI), Patient Monitoring,
Cardiovascular Information Management, and Embedded
Multiprocessing. For more information about Cedara, visit the
Cedara website at http://www.cedara.com/ or contact: Brian Pedlar,
Chief Financial Officer, (905) 672-2100 ext. 2015 Email: About
Cedara Software: Cedara Software Corp. is a leading independent
provider of medical technologies for many of the world's leading
medical device and healthcare information technology companies.
Cedara software is deployed in hospitals and clinics worldwide --
approximately 28,000 medical imaging systems and 6,400 Picture
Archiving and Communications System (PACS) workstations have been
licensed to date. Cedara is enabling the future of the healthcare
industry with new innovative approaches to workflow, data and image
management, integration, the web, software components and
professional services. The Company's medical imaging solutions are
used in all aspects of clinical workflow including the capture of
patient digital images; the sharing and archiving of images;
sophisticated tools to analyze and manipulate images; and even the
use of imaging in surgery. Cedara is unique in that it has
expertise and technologies that span all the major digital imaging
modalities including angiography, computed tomography (CT),
echo-cardiology, digital X-ray, fluoroscopy, mammography, magnetic
resonance imaging (MRI), nuclear medicine, positron emission
tomography (PET) and ultrasound. Certain statements contained in
this news release are forward-looking within the meaning of
securities laws and are based on current expectations that are
subject to a number of assumptions, uncertainties and risks, and
the actual results may differ materially from what is currently
expected. These assumptions, uncertainties and risks include, but
are not limited to: the management of the growth of the Company,
dependence on key personnel of the Company, competitive pressures
(including price competition), changes in market activity, risks
associated with international operations, the development of new
products and services, the enhancement of existing products and
services, the introduction of competing products having
technological and/or other advantages, the dependence on key
customers, regulatory changes to the health care industry,
seasonality, economic and political conditions and adequate
protection of the proprietary interests of the Company. Further
information about these risks and uncertainties can be found in the
continuous disclosure documents filed from time to time by Cedara
with the securities regulatory authorities, which documents are
available at http://www.sedar.com/. All trademarks appearing in
this release are the property of Cedara Software Corp. DATASOURCE:
Cedara Software Corp. CONTACT: Brian Pedlar, Chief Financial
Officer, Cedara Software Corp., (905) 672-2100 ext. 2015, ; To
request a free copy of this organization's annual report, please go
to http://www.newswire.ca/ and click on reports@cnw.
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