Winston-Salem, NC -- (SBWIRE) -- 10/22/2013 -- EC Development (OTC: ECDI) Trading at $0.11, Up 83%. Announced Monday after market close that it has developed a customized interface to communicate with and provide complete casino management system functionality to the legacy electronic gaming machines (the majority of games present) which populate the slot parlors, locally known as "banca’s", throughout the Dominican Republic.
Previously, traditional casino management systems could not be linked to banca’s; however, the innovative team at EC Development, with its partners in the Dominican Republic, has developed a software and hardware interface that allows for all the security, accuracy and real-time availability to all data which the games generate allowing management to offer enhanced player experience and, at the same time, gain increased security as well as real-time accurate accounting.
Presently, EC Development is deploying the new system throughout Santo Domingo in a series of trials for local banca owners. “Our new system has been received with great excitement by the owners and managers of the thousands of bancas through the Dominican Republic,” said Gene Estep, CEO of EC Development. “We are pleased to be able to help offer them the benefits of a full casino management system.”
What They Do: EC Development designs, develops and markets software for the U.S. and international gaming and casino markets. The software monitors, audits, analyzes and manages all financial transactions and customer activities for casinos and other gaming related environments.
Cardiovascular Systems (Nasdaq: CSII) Trading at $26.80, Up 17%. Today announced that it has received PMA approval from the U.S. Food and Drug Administration (FDA) to market its Diamondback 360 Coronary Orbital Atherectomy System (OAS) as a treatment for severely calcified coronary arteries.
“Today is a landmark moment for: patients suffering from calcified coronary artery disease, their families, our physician operators and everyone at CSI,” said David L. Martin, President and Chief Executive Officer of Cardiovascular Systems. “FDA approval of our Diamondback 360 Coronary OAS allows us to bring to market the first new coronary atherectomy system in more than two decades.”
According to estimates, significant arterial calcium is present in nearly 40 percent of patients undergoing a percutaneous coronary intervention (PCI). Significant calcium contributes to poor outcomes and higher treatment costs in coronary interventions when traditional therapies are used, including a substantially higher occurrence of death and major adverse cardiac events (MACE). This approval opens up a large, underserved U.S. market opportunity for CSI, estimated to exceed $1.5 billion annually.
What They Do: Cardiovascular Systems is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease.
Microsemi Corporation announced Monday after market close that they have entered into a definitive agreement to acquire Symmetricom (Nasdaq: SYMM) Trading at $7.17, Up 50%, for $7.18 per share through a cash tender offer, representing a premium of 49 percent based on the average closing price of Symmetricom's shares of common stock during the 90 trading days ended Oct. 18, 2013. The board of directors of Symmetricom unanimously recommends that Symmetricom's stockholders tender their shares in the tender offer. The total transaction value is approximately $230 million, net of Symmetricom's projected cash balance at closing.
What They Do: Symmetricom is a world leader in precise time solutions, sets the world's standard for time.
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