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SHINE Medical Technologies Chooses QAD Cloud ERP to Automate and Streamline Its Financials and Improve Control over Financial Reporting
 
(September 13, 2017)

SANTA BARBARA, Calif., Sept. 13, 2017 /PRNewswire/ -- QAD Inc. (Nasdaq:QADA) (Nasdaq:QADB), a leading provider of enterprise software and services designed for global manufacturing companies, today announced that SHINE Medical Technologies, Inc. (SHINE), has chosen QAD Cloud ERP.

QAD Logo (PRNewsfoto/QAD Inc.)

Based in Janesville, WI, SHINE Medical Technologies is dedicated to being the world leader in the safe, clean, affordable production of medical tracers and cancer treatment elements.  Their advanced accelerator technology enables a high-yield isotope production process that is safer, cleaner, and more affordable than existing processes.


Founded in 2010, SHINE has grown substantially and the company realized it needed an ERP system that could adapt to its changing business needs and accommodate growth.  QAD Cloud ERP is a full-featured cloud ERP solution built for manufacturing. It will allow SHINE to automate and streamline its financial processes, while helping it improve internal control over financial reporting.  QAD Channel Partner Strategic Information Group will assist with the QAD implementation project.

SHINE selected QAD Cloud ERP for a number of reasons including:

  • QAD's experience working with companies similar to SHINE
  • QAD's emphasis on partnering with its customers and focusing on continuous improvement
  • QAD Financials will scale as SHINE continues to grow

"Implementing the QAD solution provides a foundation that supports SHINE's mission to be the world leader in the safe, clean, affordable production of medical isotopes," said SHINE Financial Planning and Analysis Manager, Aaron Sprang. "We need a solution with strong financials and the ability to scale as we grow. We found the right partner in QAD."

"We are happy to welcome SHINE Medical Technologies to the QAD family," said QAD Senior Vice President, North America, Ed Boclair. "Growing life science customers like SHINE increasingly choose our cloud ERP solution to reduce time to deployment and drive efficiencies. SHINE competes in a highly regulated environment and QAD Cloud ERP helps reduce SHINE's time to validation."

About SHINE Medical Technologies, Inc.
Founded in 2010, SHINE is a development-stage company working toward becoming a manufacturer of radioisotopes for nuclear medicine. The SHINE system uses a patented, proprietary manufacturing process that offers major advantages over existing and proposed production technologies, as it does not require a nuclear reactor, uses less electricity, generates less waste and is compatible with the nation's existing supply chain for molybdenum-99. In 2014, SHINE announced the execution of molybdenum-99 supply agreements with GE Healthcare and Lantheus Medical Imaging. In 2015, with the help of Argonne National Laboratory, GE Healthcare demonstrated SHINE molybdenum-99 can act as a drop-in replacement for reactor-based moly-99.  In 2016, SHINE received regulatory approval to construct its facility from the Nuclear Regulatory Commission and signed a moly-99 supply agreement with HTA Co., Ltd., the largest Chinese distributor of radiopharmaceuticals.  Learn more at http://shinemed.com.

About QAD The Effective Enterprise
QAD Inc. (Nasdaq:QADA) (Nasdaq:QADB) is a leading provider of enterprise software and services designed for global manufacturing companies. For more than 35 years, QAD has provided global manufacturing companies with QAD Enterprise Applications, an enterprise resource planning (ERP) system that supports operational requirements, including financials, manufacturing, demand and supply chain planning, customer management, business intelligence and business process management. QAD Enterprise Applications is offered in flexible deployment models in the cloud, on-premise or in a blended environment. With QAD, customers and partners in the automotive, consumer products, food and beverage, high technology, industrial products and life sciences industries can better align daily operations with their strategic goals to meet their vision of becoming more Effective Enterprises.

For more information about QAD, call +1 805-566-6000, visit www.qad.com.

"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.

Contacts:

QAD Inc.
Scott Matulis
Public Relations
818-451-8918
[email protected]

or

Evan Quinn
Analyst Relations
617-869-7335
[email protected]

Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the Company's business, future economic performance or any of the assumptions underlying or relating to any of the foregoing. Forward-looking statements are based on the company's current expectations. Words such as "expects," "believes," "anticipates," "could," "will likely result," "estimates," "intends," "may," "projects," "should," "would," "might," "plan" and variations of these words and similar expressions are intended to identify these forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to: risks associated with our cloud service offerings, such as defects and disruptions in our services, our ability to properly manage our cloud service offerings, our reliance on third-party hosting and other service providers, and our exposure to liability and loss from security breaches; demand for the company's products, including cloud service, licenses, services and maintenance; pressure to make concessions on our pricing and changes in our pricing models; protection of our intellectual property; dependence on third-party suppliers and other third-party relationships, such as sales, services and marketing channels; changes in our revenue, earnings, operating expenses and margins; the reliability of our financial forecasts and estimates of the costs and benefits of transactions; the ability to leverage changes in technology; defects in our software products and services; third-party opinions about the company; competition in our industry; the ability to recruit and retain key personnel; delays in sales; timely and effective integration of newly acquired businesses; economic conditions in our vertical markets and worldwide; exchange rate fluctuations; and the global political environment. For a more detailed description of the risk factors associated with the company and factors that may affect our forward-looking statements, please refer to the company's latest Annual Report on Form 10-K and, in particular, the section entitled "Risk Factors" therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter. Management does not undertake to update these forward-looking statements except as required by law.

 

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SOURCE QAD Inc.

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