Profile: Digirad Corp (DRAD.OQ)

DRAD.OQ on NASDAQ Stock Exchange Global Market

18 Oct 2019
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Digirad Corporation, incorporated on January 2, 1997, provides healthcare solutions. The Company's portfolio of mobile healthcare solutions and medical equipment and services include diagnostic imaging and patient monitoring, provides hospitals, physician practices, and imaging centers throughout the United States. The Company's segments include Diagnostic Services, Mobile Healthcare, Diagnostic Imaging and Medical Device Sales and Services.

Diagnostic Services

Through Diagnostic Services, the Company offers an imaging services program as an alternative to purchasing equipment or outsourcing the procedures to another physician or imaging center. For physicians, wishing to perform nuclear imaging, echocardiography, vascular or general ultrasound tests, or any combination of these procedures in their offices, the Company provides the ability for them to engage its services, which includes the use of its imaging system, qualified personnel, radiopharmaceuticals, licensing services, and logistics required to perform imaging in the their own offices, and thereby the ability for these customers to bill Medicare, Medicaid, or one of the third-party healthcare insurers directly for those services, which are primarily cardiac in nature. Its portable nuclear and ultrasound imaging operations utilize a hub and spoke model, in which centrally located regional hubs anchor multiple van routes in the surrounding metropolitan areas. At these hubs, clinical personnel load the equipment, radiopharmaceuticals, and other supplies onto specially equipped vans for transport to customer locations, where they set up the equipment for the day.

The Company, within Diagnostic Services, also offers remote cardiac event monitoring services through its Telerhythmics business. These services include provision of a monitor, remote monitoring by registered nurses, and monitoring support for its patients and physician customers. It offers modalities of mobile cardiac telemetry (MCT), mobile cardiac event monitoring (both in wireless and analog versions), holter monitoring, and pacemaker analysis. Its monitoring service operates out of a centralized monitoring center located near Memphis, Tennessee. Its cardiac event monitoring services are provided primarily through an independent diagnostic testing facility model that allows it to bill Medicare, Medicaid, or one of the third-party healthcare insurers directly for services provided, and it bills Medicare, Medicaid, and private insurance directly.

Mobile Healthcare

Through Mobile Healthcare segment, the Company provides contract sales services and diagnostic imaging, including computerized tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), PET/CT, and nuclear medicine and healthcare expertise to hospitals, integrated delivery networks (IDN's), and federal institutions on a long-term contract basis, as well as provisional (short-term) services to institutions that are in transition. Its Mobile Healthcare operations operate throughout the United States, with a concentration in rural areas, particularly in the Upper Midwest region of the United States. Its services typically offer the diagnostic imaging equipment, placed in a coach or tractor-trailer, coupled with either an owned or operator-owned tractor, which is then transported to each customer location.

Diagnostic Imaging

Through Diagnostic Imaging segment, the Company sells its internally developed solid-state gamma camera imaging systems and camera maintenance contracts. Its imaging systems include nuclear cardiac imaging systems, as well as general purpose nuclear imaging. It sells its imaging systems to physician offices and hospitals primarily in the United States. Its imaging systems are sold in both portable and fixed configurations, and facilitate the delivery of nuclear medicine procedures in a physician's office, an outpatient hospital setting, or within multiple departments of a hospital (such as emergency and operating rooms).

Medical Device Sales and Services

Through Medical Device Sales and Services segment, the Company provides contract sales services, as well as warranty and post-warranty services, under contract with Philips Healthcare within a defined region in the upper Midwest region of the United States. It primarily sells Philips branded imaging and patient monitoring systems, and collects a commission on these sales. It also provides warranty and post-warranty services on certain Philips equipment within this territory related to equipment it has sold or other equipment sold in the territory.

Company Address

Digirad Corp

1048 Industrial Court
SUWANEE   GA   30024
P: +1858.7261600
F: +1858.7261700

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