Cedara signs major agreement with Philips Medical Systems

SEPTEMBER 23--Cedara Software Corp. (Toronto, Canada; www.cedara.com) has signed an agreement with Philips Medical Systems to supply certain of its medical imaging technologies and related support services for application in magnetic-resonance systems.

SEPTEMBER 23--Cedara Software Corp. (Toronto, Canada; www.cedara.com), an independent developer of medical software technologies for the global health-care market, has signed an agreement with Philips Medical Systems to supply certain of its medical imaging technologies and related support services for application by Philips in its magnetic-resonance systems. The agreement is valued at a minimum of C$4.2 million in Cedara's current fiscal year. There is the potential for some follow-on business at Philips' option.

"We are pleased that Cedara has been successful in securing this major agreement with Philips Medical Systems, a leading supplier of diagnostic imaging and patient monitoring systems," said Abe Schwartz, Cedara president and CEO.

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