WAYNE, Pa., April 21 /PRNewswire/ -- Escalon Medical Corporation
(Nasdaq: ESMC) today announced the election of Jeffrey F. O'Donnell to its
Board of Directors. Mr. O'Donnell will serve until the Company's next annual
meeting. The addition of Mr. O'Donnell increases the size of Escalon's Board
to five.
Mr. O'Donnell, age 39, is President and Chief Executive Officer of X-SITE
Medical, a maker of cardiology devices. Prior to joining X-SITE in February
1999, Mr. O'Donnell was President and Chief Executive Officer of Radiance
Medical Systems, Inc., formerly CardioVascular Dynamics, Inc., a publicly
traded manufacturer and distributor of innovative interventional cardiology
products. Mr. O'Donnell first joined the company in 1995 as Vice President,
Sales and Marketing and was with Radiance when it sold its vascular access
business to Escalon Medical in January 1999. Previous positions include
President and CEO of Kensey Nash Corporation, developer of the AngioSeal
vascular closure device, as well as senior-level sales and marketing positions
at companies such as ACS, now part of Guidant Corp., Boston Scientific Corp.
and Johnson & Johnson.
Mr. O'Donnell also serves on the boards of several early stage medical
companies including Radiance Medical Systems. Mr. O'Donnell is a graduate of
LaSalle University.
Escalon Chairman and Chief Executive Officer, Richard J. DePiano
commented, "We are very excited to have Mr. O'Donnell join our Board. His
experience with early stage medical device companies and in particular, his
knowledge of the vascular access business, should prove invaluable as we
integrate the recently acquired vascular access operations into our Company."
Founded in 1987, Escalon develops, markets and distributes ophthalmic
surgical and pharmaceutical products as well as vascular access devices which
provide a base of positive cash flow to fund a targeted research and
development effort. The Company utilizes 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 the Company's distribution capabilities. Escalon has
headquarters in Wayne, Pa. and manufacturing operations near Milwaukee, Wis.
SOURCE Escalon Medical Corporation
 back to top
CONTACT:
Richard J. DePiano, Chairman and CEO of
Escalon Medical Corp., 610-688-6830, or General Info., Alison
Ziegler, or Analyst Info., Nicole Salas, or Media Info., Marty
Gitlin, 212-661-8030, all of The Financial Relations Board
NOTE TO EDITORS: To receive additional information on Escalon
Medical Corp., via fax, at no charge, dial 1-800-PRO-INFO and
enter code ESMC.
|
