WAYNE, Pa., April 3, 2008 /PRNewswire-FirstCall/ -- Escalon Medical
Corp. (Nasdaq: ESMC) today announced that its Sonomed, Inc. subsidiary
received approval from the State Food and Drug Administration within the
People's Republic of China to market the PacScan(R) and E/Z-Scan(R) series
of products in that country. The PacScan(R) series consists of A-scans,
pachymeters, and combination systems used in both cataract and refractive
surgery. The E/Z- Scan(R) series consists of both B-scan and A/B-scan
systems for enhanced diagnostic capabilities. Both systems are widely
marketed internationally and have become some of the best-selling
ophthalmic biometry and ultrasound imaging systems in the world.
The company has immediate plans to market both series of instruments
through its two existing distributors in mainland China, the Hwa-In Group
and Shenzhen K&K, and also plans to increase its direct support network to
assist distributors, attend regional meetings, and provide training as
needed.
"Sonomed was well known and respected in the People's Republic of China
prior to Medical Device Registration requirements and we look forward to
re- introducing our latest line of ophthalmic ultrasound products with
similar success," said Barry Durante, President of Sonomed, Inc. "These
instruments will provide physicians the opportunity to offer a safe and
accurate ultrasound examination to improve their diagnostic capability and
patient surgical outcomes."
Sonomed, Inc. is a diagnostic ultrasound company specializing in the
design, manufacture and distribution of instruments for ophthalmology.
Sonomed is focused on providing quality instrumentation for ophthalmic
physicians' offices, clinics and hospitals.
The PacScan(R) and E/Z-scan(R) will be showcased at the 8th
International Congress of Ophthalmology and Optometry China (COOC) in
Nanjing, China, on April 4 through April 6, 2008.
Founded in 1987, Escalon (http://www.escalonmed.com) develops markets and
distributes ophthalmic diagnostic, surgical and pharmaceutical products as
well as vascular access devices. Drew Scientific, which operates as a
separate business unit, provides instrumentation and consumables for the
diagnosis and monitoring of medical disorders in the areas of diabetes,
cardiovascular diseases and hematology, as well as veterinary hematology
and blood chemistry. Escalon seeks to utilize strategic partnerships to
help finance its development programs and is also seeking acquisitions to
further diversify its product line to achieve critical mass in sales and
take better advantage of Escalon's distribution capabilities, although any
such partnerships or acquisitions may not occur. Escalon has headquarters
in Wayne, Pennsylvania and manufacturing operations in Long Island, New
York, New Berlin, Wisconsin, Dallas, Texas, Waterbury, Connecticut and
Barrow-in-Furness, U.K.
Note: This press release contains statements that are considered
forward- looking under the Private Securities Litigation Reform Act of
1995, including statements about Escalon's future prospects. They are based
on Escalon's current expectations and are subject to a number of
uncertainties and risks, and actual results may differ materially. The
uncertainties and risks include whether the Company is able to:
-- implement its growth and marketing strategies, improve upon the
operations of Escalon's business units, including the integration of
Drew's operations, the organization of the Drew business and the
integration of any acquisitions Escalon may undertake, if any, of which
there can be no assurance,
-- implement cost reductions,
-- generate cash,
-- identify, finance and enter into business relationships and
acquisitions.
Other factors include uncertainties and risks related to:
-- new product development, commercialization, manufacturing and market
acceptance of new products,
-- marketing acceptance of existing products in new markets,
-- research and development activities, including failure to demonstrate
clinical efficacy,
-- delays by regulatory authorities, scientific and technical advances by
Escalon or third parties,
-- introduction of competitive products,
-- third party reimbursement and physician training, and
-- general economic conditions.
Further information about these and other relevant risks and
uncertainties may be found in Escalon's report on Form 10- K, and its other
filings with the Securities and Exchange Commission, all of which are
available from the Commission as well as other sources.
SOURCE Escalon Medical Corp.
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Related links:
http://www.escalonmed.com
CONTACT:
Richard J. DePiano, Chairman and CEO, Escalon
Medical Corp., +1-610-688-6830; or Joseph Calabrese, Financial
Relations Board, +1-212-827-3772
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