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Welcome to our comprehensive profile on Imagin Molecular Corporation
(OTCBB: IMGM)
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OVERVIEW
Imagin Molecular Corporation, through its subsidiaries, engages in the ownership and operation of positron emission tomography and medical imaging centers in North America. It provides imaging technology and related technical and educational services to diagnose and treat patients with coronary artery disease. The company also manufactures positron emission tomography scanners. Imagin Molecular Corporation serves general/family/internal medicine physicians and community hospitals. The company is based in Hinsdale, Illinois.
Imagin Molecular Corporation is dedicated to business opportunities in the nuclear medicine field with its primary focus in positron emission tomography (PET). PET is an advanced medical diagnostic imaging procedure used by physicians in the detection of certain cancers, coronary disease and neurological disorders.
Imagin Molecular is a publicly traded Delaware corporation on the OTCBB under the symbol IMGM. Imagin Molecular is a holding company actively engaged in businesses such as nuclear medicine device manufacturing, coronary artery disease reversal and prevention molecular imaging centers with hospital joint ventures.
Currently Imagin Molecular is the parent of three wholly owned operating subsidiaries.
1. Imagin Nuclear Partners
Imagin Nuclear Partners is a full-service joint venture molecular imaging partner that will own, operate and administer out-patient medical diagnostic imaging centers that utilizes PET and PET/CT scanning equipment. Imagin Nuclear Partners specializes in using evidence based bioinformatics specifically positioned in the market to provide the maximal cost-effective benefit to the Company’s joint venture partner and community.
2. Positron Acquisition Corporation
Positron Acquisition Corporation was formed for the sole purpose of holding securities in Positron Corporation (www.positron.com) that were acquired in conjunction with a share exchange with Imagin Diagnostic Centres of Canada. Positron Acquisition Corporation currently holds 70,400,000 common shares of Positron Corporation. Imagin Molecular Corporation acquired this position to add value to its portfolio of PET businesses. Positron's leading cardiac PET software and device provides the complete solution for Imagin Molecular Corporation’s CAD reversal and prevention centers plan. Positron Corporation’s superior technology combined with the most economic camera and expertise is the total solution for Imagin Molecular Corporation and any PET facility.
3. Cipher Multimedia, Inc.
Cipher Multimedia is a new Media Marketing and Distribution Solution Company that provides a Distribution Solution for publishers of digital content. Cipher Multimedia will develop marketing campaigns that will assist Imagin, Positron Corporation and other companies market their products and will continue to provide publishers a distribution solution for digital content. Imagin Molecular Corporation is in the process of spinning this company off through a stock dividend to its shareholders.
Strategy
Imagin Molecular Corporation strategy and focus is dedicated to business opportunities in positron emission tomography (PET) manufacturing and the diagnosis of cancer, heart disease and neurological diseases. PET is an advanced medical diagnostic imaging procedure used by physicians in the detection of certain cancers, coronary disease and neurological disorders including Alzheimer's disease. Imagin Molecular Corporation has positioned the Company to be a factor in PET and ancillary molecular imaging businesses. Imagin Nuclear Partners, a wholly owned subsidiary of Imagin Molecular Corporation, is a full-service joint venture molecular imaging partner that will own, operate and administer out-patient medical diagnostic imaging centers that utilizes PET and PET/CT scanning equipment. Imagin Nuclear Partners specializes in using evidence based bioinformatics specifically positioned in the market to provide the maximal cost effective benefit to their joint venture partner and the community.
CAD Reversal Centers
The Company believes that demand exists for innovative imaging / treatment centers that focus on improving the diagnostic accuracy of coronary disease detection while at the same time offering non-surgical proven methods of disease reversal and prevention. The Company has the immediate opportunity to secure the name of K. Lance Gould, M.D. in association with their centers. K. Lance Gould has developed a coronary disease reversal and prevention program that is focused on diet and life style changes first and pharmacotherapy second. Dr. Gould has published his findings in the Journal of the American College of Cardiology in 2003.
The Company will approach self insured corporations and demonstrate the ability of the center to save substantial health care dollars while improving the overall health of their workforce. The Company’s self insured corporation report, that was prepared for General Motors, was theoretical only although has since been demonstrated with patient data from Dr. Merhige’s center.
The Company believes that not every referring physician will choose to administer the Gould reversal program. The Company has been able to identify a market niche that will enable them to maintain patient referrals and more importantly capture recurring revenue by patients returning for a second PET exam to access the efficacy of their physician’s disease management program.
Previous research by Merhige and Oliverio published, in abstract form, in the Journal of the American College of Cardiology, supports the Company’s alternative revenue source of PET guided CAD therapy. The research goals were to determine if identifying treatment failure with PET by demonstrating progression of CAD despite lipid lowering therapy predicts adverse clinical events.
The conclusions were:
1. Serial PET MPI with dipyridamole and Rb-82 identifies 22% of patients with progressive CAD despite successful lipid lowering therapy that exceeds NCEP-ATP III guidelines.
2. These patients with progressive CAD identified by PET have a significant 5-fold increase in hard coronary events over short term follow-up, compared with those with CAD arrest or reversal.
3. Reversal or progression of CAD measured by PET MPI did not correlate with changes in fasting levels of Total, LDL, HDL cholesterol or Triglycerides in individual patients.
4. Improvement or worsening of CAD could not be predicted from fasting lipid levels, nor was a level of LDL identified that predicted improvement and lower incident of clinical event.
The conclusions of the study are critical in presenting to referring physicians that patients can’t be managed by cholesterol values alone, especially the comfort from cholesterol reduction. Referring physicians now have a reliable diagnostic test that can assess there ability to tailor medical management in the individual patient. The patient can then be captured for the second PET exam empowering both patient and physician. The patient or physician may choose to enter the Gould program in the unfortunate event that the patient progresses their disease on there second PET.
Community Hospital Joint Venture Program
The management of the Company has been successful introducing PET imaging technology into Niagara Falls Memorial Medical Center, a Community Hospital in Niagara Falls, NY. The hospital was contemplating applying for a certificate of need for an angiographic laboratory and was unable to differentiate their services from cross town competition or from the larger tertiary centers in Buffalo. Cardiac PET provided the hospital an alternative to traditional methods of detection and management of coronary disease. The management of the Company established a coronary artery disease reversal and prevention program to compliment an innovative approach to inserting PET into the heart attack diagnosis in the emergency room. The hospital was also able to start a much needed oncology imaging program fusing CT images for better tumor localization.
The hospital sits within the worst coronary disease death rate county in the United States and has gained local, state and federal grants due to the one year reduction in heart attack related deaths. (see chart). The red bar indicates the incidence of death from heart attack in patients presenting to the emergency room, note this is well above the state average. The green bar represents a reduction to below the state average after PET was introduced as well as being below the cross town competition that does not have PET services.
The introduction of Cardiac PET into this system successfully interrupted the unnecessary loss of inpatient to larger hospitals in order to rule out coronary disease by an angiogram. Patients who were transferred to the larger institution tended to return to that institution for ancillary services setting up for a destructive algorithm that is threatening community hospitals across the country today. PET technology, with very high accuracy, allows for patient to be retained within the hospital and stops the loss of ancillary services. The improved diagnostic ability of the hospital combined with an innovative approach to disease management actually drives more patients into the front doors and attracts new patients from cross town competition as well as the larger metropolitan areas who lack reversal programs. Niagara Medical Center was able to construct a new heart center in only two years after PET was introduced. The hospital was able to secure local, state and federal funding due to the exceptional turn around. |
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