WAYNE, Pa., Jun. 1 /PRNewswire/ -- Escalon Medical Corp. (Nasdaq: ESMC)
today announced that it has appointed Harry Rimmer to the new position of Vice
President of Corporate Development.  Mr. Rimmer, age 52, will be responsible
for assisting the Company's management team with the execution of its
strategic business development and product planning efforts as well as its
acquisition and diversification strategy.  The Company's strategy is aimed at
owning niche products and businesses where there is an opportunity to become a
market leader.
    Mr. Rimmer joins Escalon with 22 years of financial experience, 19 of
those years with Fortune 100 companies.  Most recently, he was Finance
Director for Irving Tissue, a privately held Canadian company.  While at
Irving, he established the financial and management infrastructure, in
addition to being responsible for the strategic development process and new
business proposals.  Prior to his three years at Irving, he held finance
positions at both Kimberly Clark Corporation and Scott Paper Company.  At both
companies he was heavily involved in supporting rapidly growing businesses in
both the U.S. and Europe.
    Escalon's Chairman and Chief Executive Officer, Richard J. DePiano,
commented, "We are very excited to have Harry on board.  His proven leadership
skills and extensive financial and managerial background will be a great asset
to our management team as we look to realize the full value of our
acquisitions.  Harry's range of experience will be particularly useful as we
identify additional synergies and expand the sales opportunities in both our
vascular access and diagnostic ultrasound businesses."
    "The depth of our management structure and the skill set we now have in
place will also better enable us to execute on our strategic business plans,
evaluate potential acquisitions and product extensions and more quickly
integrate them into our business.  Our goal is to improve the return on our
investments and enhance shareholder value.  We look forward to Harry's input
as we focus on our vision of building a portfolio of premium products with the
potential for high gross margins," added Mr. DePiano.
    Founded in 1987, Escalon develops, markets and distributes ophthalmic
diagnostic, surgical and pharmaceutical products as well as vascular access
devices.  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,
Pennsylvania and manufacturing operations in Long Island, New York and near
Milwaukee, Wisconsin.
    Note:  This press release contains statements that are forward-looking,
including statements about the Company's future prospects.  They are based on
the Company's current expectations and are subject to a number of
uncertainties and risks.  Actual results may be affected by, among other
things, uncertainties related to recent acquisitions, uncertainties and risks
related to new product development and introduction cycles, research and
development activities, including failure to demonstrate clinical efficacy,
delays by regulatory authorities, scientific and technical advances by the
Company or third parties, introduction of competitive products, third party
reimbursement and physician training.  Further information about these and
other relevant risks and uncertainties may be found in the Company'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.
    To receive additional information on Escalon Medical Corp., via fax, at no
charge, dial 1-800-PRO-INFO and enter code ESMC.

Link to this page: