A Medical Device Daily
National Detection Clinics (Rochester, New York) reported that its board has approved a forward split of the company’s common stock. Shareholders of record as of May 13, 2005, will receive 99 shares for every 1 common share held, the transaction effective May 19. There will be no change in the par value of such shares.
The company said that its board determined to take this step as the company “embarks on aggressive efforts to continue its strategic growth initiatives.”
CEO Peter Johanssen said, “We are excited about the forward stock split because the board felt this would great-ly increase shareholder liquidity.”
National Detection Clinics is a developer of cancer clinics using FDA-approved infrared thermal imaging technology to determine structure changes in tissues leading to possible early breast cancer. The method is offered as an alternative to mammography.