CTI Sells its First Breast Cancer Imaging Systems
LAYTON, Utah, June 20 -- Computerized Thermal Imaging Inc. (CTI) has sold its first 10 breast cancer imaging systems to a Latin American consortium based in Mexico City for $5 million. CTI's Computerized Thermal Imaging System is able to detect breast cancer without touching the skin or using any type of radiation, the company said.
The Latin American group -- Computerized Thermal Imaging International -- has agreed to purchase 100 of CTI's breast cancer units for use in Latin America. The initial purchase order came with a down payment of $1.75 million, with the balance due upon delivery of the systems.
This is a very significant event in our corporate history, said David Packer, president and COO of Computerized Thermal Imaging. It represents the first sale of our revolutionary breast cancer imaging system and our first significant revenues. This achievement is the result of our unwavering commitment to bring this product to market successfully. Ourrecent acquisition of Bales Scientific will greatly enhance both production and support. We will now begin production as well as total implementation of the domestic and international product support infrastructure.
CTI still needs the approval of the US Food and Drug Administration before its Computerized Thermal Imaging system can be used as an additional diagnostic tool for the detection of breast cancer in the US.
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