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Communication Synergy Technologies Inc -ComSynTech- Executives Comment on the Impact of Recent Developments
ROCHESTER, N.Y. --(Business Wire)-- Oct. 5, 2004 -- As announced last week, MedSynTech, a wholly owned subsidiary of Communication Synergy Technologies, Inc (CSYT:PK), announced a multi-year licensing and joint development agreement with Eastman Kodak's Health Imaging Division. The impact of this on the company is one of major significance within the $4.8 billion dollar radiology information market.
According to Michael Perrotta, Chief Operating Officer of ComSynTech, "Our agreement with Kodak is satisfying in many ways. First, it validates our business model, which is to introduce products regionally and to attract strong strategic partners on an international scale. Secondly, the company can focus on building revenue streams with leading, well-regarded companies in those markets where our technologies play."
Seth Borg, MD, Chief Executive Officer of ComSynTech said "Kodak is a great fit for us because we hold a preferential knowledge base in the specific radiology digital imaging center market, that they wish to penetrate. Kodak receives a leg up in this market by utilizing our expertise, including rights to our patented technology."
Perrotta noted that "Dr. Borg has a distinguished career in radiology, having built one of the largest independent radiology practices in New York after pioneering medical research in radiology at several universities, including the Strong Memorial Hospital at the University of Rochester. He and ComSynTech Chief Technical Officer, Gene Wolfe, are the holders of the recently granted patent 'Networked Based Speech Transcription That Maintains Dynamic Templates'. The bottom line is that we can bring our technology to many other medical specialties and continue to build a customer base and grow revenues."
About ComSynTech
Communication Synergy Technologies Inc. (ComSynTech) develops and markets document creation, management and preservation systems for medicine, industry, finance and government. It's products provide efficiency, flexibility and improved quality by automating the creation, capture, management, distribution, archiving, preservation and retrieval of voice and word documents across multiple markets. ComSynTech products and development platforms integrate with and complement existing technologies, accelerating time-to-implementation. ComSynTech's Document Vault addresses the content and document management services market, forecast by IDC Research to grow to $24 billion by 2006. The InFORM(TM) system, a product of MedSynTech, a CST wholly owned subsidiary, is targeted at medical specialties information and practice management solutions industry, a $4.8 billion dollar market.
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