Medtech Insight is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Quest Medical

This article was originally published in The Gray Sheet

Executive Summary

Manufacturer of cardiovascular surgery, oncology and IV therapy products expects to report a net loss of approximately $1.1 mil. for the fourth quarter ended Dec. 31. The loss is "primarily due to a one-time, non-cash, pre-tax charge of approximately $1.25 mil." related to the write-off of the assets of Clini-Therm Corporation, which was acquired in July 1991 through that firm's chapter seven foreclosure proceedings ("The Gray Sheet" July 15, 1991, p. 11). Revenue for the quarter is expected to be approximately $3.4 mil., "slightly below earlier expectations." Quest notes in a release that it has decided "not to invest further" in its Prostek 3000 hyperthermia device for heat treatment of benign prostatic hyperplasia (BPH), although the firm remains "optimistic" about the commercial potential of the technology. The firm cites more appealing R&D investments in the cardiovascular market and a costly and time-consuming PMA process as the reason for shelving the project. Among the firm's cardiovascular product development efforts is a myocardial protection system for use during cardiovascular surgery. Quest hopes to start beta testing of the system before the end of the year.
Advertisement
Advertisement
UsernamePublicRestriction

Register

MT000309

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel