LMS to streamline operations
October 24 2007 - 8:00AM
PR Newswire (US)
MONTREAL, Oct. 24 /PRNewswire-FirstCall/ -- LMS Medical Systems
(TSX: LMZ, AMEX: LMZ), a healthcare technology company and
developer of the CALM-clinical information system and risk
management software tools for obstetrics, today announced that it
is streamlining operations, thereby substantially reducing the
company's expenses with the objective of reaching near term
positive cash flow and ensuing profitability. LMS recently launched
its flagship software applications and will now focus on growing
market presence and product adoption. The September 2007
announcement of the successful integration of its CALM product with
a distributor's clinical platform and the market delivery of
additional strategic products allows for the reorientation of the
company's operations. Sales, service, training and software support
for the Company's distributors and healthcare industry clients
become the priority. Shifting from software development to
commercialization allows for reductions in development expenses and
outside consultants. "Management will concentrate its efforts
primarily on ramping up revenue generation, servicing our growing
customer base and profitability." said Diane Cote, President and
CEO of LMS. "We will continue to look at developing additional
partnerships to increase market presence." ABOUT LMS LMS is a
leader in the application of advanced mathematical modeling and
neural networks for medical use. The LMS CALM(TM) Suite provides
physicians, nursing staff, risk managers and hospital
administrators with clinical information systems and risk
management tools designed to improve outcomes and patient care for
mothers and their infants during childbirth. Except for historical
information contained herein, the matters discussed in this news
release are forward-looking statements. Because these
forward-looking statements involve risks and uncertainties, there
are important factors that could cause actual results to differ
materially from those expressed implied by the forward-looking
statements including, but without limitation, economic conditions
in general and in the healthcare market, the demand for and market
for our products in domestic and international markets, our current
dependence on the CALM product suite, the challenges associated
with developing new products and obtaining regulatory approvals if
necessary, research and development activities, the uncertainty of
acceptance of our products by the medical community, the lengthy
sales cycle for our products, third party reimbursement,
competition in our markets, including the potential introduction of
competitive products by others, our dependence on our distributors,
physician training, enforceability and the costs of enforcement of
our patents, potential infringements of our patents and the other
factors set forth from time to time in the Company's filings with
the United States Securities and Exchange Commission and with the
Canadian Securities Commissions. The Company has no intention of or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: LMS MEDICAL SYSTEMS INC. CONTACT: Yves Grou, Chief
Financial Officer, LMS Medical Systems Inc., (514) 488-3461 Ext.
238, Fax: (514) 488-1880, , http://www.lmsmedical.com/
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