LONGPORT INTERNATIONAL LTD. ANNOUNCES SALE OF
(PRWEB) January 25, 2001
Consulting For Strategic Growth, Ltd.
Corporate Development Consultants
Email: cfsg@iname. com
James R. McGonigle
Web: www. longportinc. com
Longport International, Inc.
Holly House, Holly Lane
Silchester, UK, RG7 2NA
Tel: 44 0 118 9701 759
Fax: 44 0 118 9701 613
Web: www. Longportintl-intl. com
SWARTHMORE, PA Â January 19, 2001 Â Longport International Ltd., a wholly owned subsidiary of LONGPORT INC., (OTCBB: LPTI) developer of the Longport Digital ScannerÂ, has sold its first high-resolution ultrasound scanner to a leading multi-national pharmaceutical company following a rental period. This scanner is being used to evaluate the effectiveness of a pharmaceutical product under development.
The company views this sale as particularly important as it represents the first sale where the scanner is being used to evaluate the effectiveness of a pharmaceutical or other healthcare product. Given the global trend to evidence-based medicine, Longport believes that many opportunities exist to use its technology to assess or aid the development of a broad range of cosmetic, pharmaceutical and other products that impact the skin or immediate underlying soft tissue.
Additionally, in an unrelated event, Longport Inc. announced an extension of its non-binding letter of intent with Smith & Nephew (NYSE: SNN). The two companies have mutually agreed to pursue a marketing and distribution agreement.
For additional information, to receive a video, and/or to add your name to receive information about Longport, Inc., please call CFSG at 1-800-625-2236.
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This press release may contain certain forward-looking statements that relate to LONGPORTÂS future business and financial performance. Such statements are subject to a number of risks and uncertainties that may cause the actual events of future results to differ from those discussed herein. Such factors include, among others: LONGPORTÂS recent change in its business model, fluctuating quarterly operating results, expectation of future losses, dependence on its current product lines, lack of long-term commitments with customers, dependence on manufacturers and strategic relationships, product delays, the difficulty of protecting proprietary rights, the ability to manage growth and attract and retain additional personnel, the potential for defects in its products, risks from international operations, its ability to raise capital in the future, competition, its ability to manage technological change and respond to evolving industry standards, government regulation and Year 2000 software issues. Investors are advised to read LONGPORTÂS Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission for a fuller discussion of these and other risks and uncertainties.