San Diego Business Journal

Digirad Refocuses, Plans Move to Atlanta

Monday, March 4, 2013

Digirad Corp., which offers solid-state medical imaging products and services, announced recently that it plans to move its headquarters from Poway to Atlanta. Digirad said the move is part of a new strategic focus and will help cut costs.

The company also announced that Matthew G. Molchan, who heads the company’s Digirad Imaging Solutions division, will become company president and take the CEO’s job in six months. Todd Clyde will continue in the role of CEO during the six-month transition.

Going forward, the company said it plans to focus on maximizing and growing cash flow from its imaging solutions division and the service and maintenance business associated with its installed base of cameras. The company said it may acquire other companies in the future.

Digirad Corp. reported a net loss of $274,000 on revenue of $13.0 million during the fourth quarter of 2012. In the same period last year, the company reported a net loss of $2.8 million on revenue of $11.9 million.

For the entire year it reported a net loss of $3.3 million on revenue of $50.5 million. That compares with a net loss of $3.3 million on revenue of $53.7 million for the whole of 2011.

Company stock trades on the Nasdaq as DRAD.

— SDBJ Staff Report