TWST: We would like to begin with a brief historical sketch of Aspyra, followed by a picture of things as they are now.
Mr. Besbeck: We are a global provider of healthcare information technology, also known as HCIT. We generally serve healthcare providers by specializing in clinical and diagnostic management systems for hospitals, large clinics, orthopedic centers, imaging centers and reference laboratories.
We recently brought together a broad portfolio of healthcare technologies through a merger of two companies. It involved Creative Computer Applications, a publicly traded company in business for many years that was focused on selling clinical information systems. The second was StorCOMM, a private company based in Jacksonville, Florida, that provided picture archive and communication systems, known as PACS. These handle images that are produced through diagnostic tests such as radiology, MRI and CT.
Aspyra is integrating the companies and the product lines to provide a seamless suite of products that we will sell to the provider marketplace. We have a well-rounded platform of technologies targeting the information technology (I.T.) sector of a rapidly growing healthcare market that is expected to triple over the next 15 years to $10 trillion. The segmented US HCIT market alone is expected to reach $25 billion by 2009. Our key marketing objective is the 3,000 mid-sized 100-to-300 bed hospitals in the US, in addition to 2,500 imaging centers and 1,500 large multi-specialty clinics.
TWST: How would you differentiate the newly formed company from competing companies?
Mr. Besbeck: First of all, Aspyra has a very broad product portfolio. Many of our competitors, such as those in the general imaging space and radiology, focus on general imaging activities. Our product portfolio includes products for the laboratory, radiology, PACS, pharmacy and anatomic pathology. There are now opportunities in both laboratory and anatomical pathology sectors of the marketplace to integrate PACS technology for those clinical applications, just like we've done for radiology and PACS. This process addresses molecular genetics, genomic testing, and medical imaging applications in the clinical diagnostics area, as well as in anatomic pathology, where we are integrating clinical systems with PACS technology to address opportunities in the oncology sector.
For example, ours latest product, which was launched in November 2005, is AccessRAD. This is an integrated Radiology Information System (R.I.S.) and PACS solution for acute care hospitals, enterprise-wide delivery networks and large imaging enterprises. We also offer solutions for laboratory, pathology and pharmacy. So we have a broad product portfolio and a footprint of a large base of installed accounts internationally totaling more than 400 customers at 600 or 700 sites. We are in a position to take advantage of this portfolio and technology platform which enables us to sell many different products to the broader marketplace.