DIAGNOS Inc.
TSX VENTURE : ADK

DIAGNOS Inc.

March 05, 2015 09:30 ET

DIAGNOS Announces Strategic Restructuring to Focus on Healthcare

BROSSARD, QUEBEC--(Marketwired - March 5, 2015) - DIAGNOS Inc. ("DIAGNOS" or "the Corporation") (TSX VENTURE:ADK), an innovative leader in healthcare services, announces today a strategic restructuring of its business in response to unfavorable market conditions and evolving opportunities. DIAGNOS is planning headcount reductions, primarily in its Mining division, in order to eliminate operating costs related to that division while focusing exclusively on enhancing its Healthcare related services and improve operational efficiencies. This restructuring is expected to be completed by March 31, 2015.

Recent activities in the natural resources market have been declining due to the overall contraction in the sector. The Corporation is evaluating all strategic options in respect of its Natural Resources activities including, but not limited to, divesting or selling its CARDS (Computer Aided Resources Detection System) business.

The investment and ongoing commitment that the Corporation has made in its Healthcare core technology platform, coupled with organizational changes in its Healthcare Division, have enabled DIAGNOS to increase its overall sales and growth prospects worldwide. DIAGNOS seeks to continue to increase its commercial Healthcare prospects in 2015 and beyond.

"Today, we are taking deliberate action to accelerate cost-reduction while stimulating sales with a focus on Healthcare. At this time, we wish to thank the employees of our Mining Division for their dedicated years of service, commitment and loyalty," said Philip Renaud Chairman of DIAGNOS. "These near-term measures should allow DIAGNOS to become more nimble and profitable. We will continue to work closely to achieve reductions where possible, while assuring that we retain whatever skills are required to drive profitable growth. Our Healthcare business is poised for continued success in several key markets, and this change will allow DIAGNOS to focus primarily on healthcare."

About DIAGNOS

Founded in 1998, DIAGNOS is a publicly traded Canadian corporation with a mission to commercialize technologies combining contextual imaging and traditional data-mining, thereby improving decision-making. DIAGNOS offers products, services, and solutions to clients in healthcare and natural resources.

About DIAGNOS Healthcare

DIAGNOS Healthcare is a business division within DIAGNOS Inc., achieving international recognition as leader in healthcare technical services, including screening, software and algorithm development, data analyses, and image processing. DIAGNOS Healthcare offers turn-key retina screening to patients around the world.

Forward-looking information

This document contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Andre Larente, President and CEO
    1-877-678-8882 or (450) 678-8882, ext.: 224
    alarente@diagnos.ca