Sonomed to Showcase Product Portfolio at the American Academy of
Ophthalmology Annual Meeting
WAYNE, Pa., Nov. 9 /PRNewswire-FirstCall/ -- Escalon Medical Corp.
(Nasdaq Capital Market: ESMC) today announced the promotion of Mr. Barry
Durante to President of Sonomed, a wholly-owned subsidiary of Escalon and a
worldwide leader in ophthalmic ultrasound. In his new role he will be
responsible for Sonomed's entire operations, while leading the company's
technology and product development strategies. Mr. Durante joined Sonomed
in 1988 and has served in numerous management positions, most recently as
Executive Vice President.
Richard J. DePiano Jr., Escalon's Chief Operating Officer, commented,
"Barry has played an important role in Sonomed's growth and development and
we believe this is a natural transition. Over the past two decades he has
been successful in growing sales on a consistent basis while exceeding
customer expectations. His vast experience in dealing with both domestic
and international distribution networks will be most beneficial as we
continue to implement targeted growth strategies."
Sonomed will showcase its industry-leading product portfolio at the
American Academy of Ophthalmology Annual Meeting, November 10 - 13, 2007,
in New Orleans, LA. Sonomed develops, manufactures and markets ultrasound
systems for diagnostic and biometric applications in ophthalmology. The
systems are of four types: A-Scans, B-Scans, High Frequency B-Scans
("UBMs") and pachymeters.
Prior to joining Sonomed, Mr. Durante was with Sonometrics
Incorporated, an ophthalmic ultrasound manufacturer and Ocusery, Inc., an
ophthalmic mobile services company.
Founded in 1987, Escalon develops markets and distributes ophthalmic
diagnostic, surgical and pharmaceutical products as well as vascular access
devices. Drew, 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. The Company 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. Escalon has headquarters in Wayne, Pennsylvania
and manufacturing operations in Long Island, New York, New Berlin,
Wisconsin, Dallas, Texas, Oxford, 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 the Company's future prospects. They are
based on the Company'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 the
Company's business units, including the integration of Drew's and MRP's
operations and any acquisitions it may undertake, if any, of which there
can be no assurance, implement cost reductions, generate cash and identify,
finance and enter into business relationships and acquisitions,
uncertainties and risks related to new product development,
commercialization, manufacturing and market acceptance of new products,
marketing acceptance of existing products in new markets, the continuity of
royalty revenue, litigation and non-recurring expenses, 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 as well as general economic
conditions. 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.
SOURCE Escalon Medical Corp.
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CONTACT: Richard J. DePiano, Chairman and CEO, +1-610-688-6830, or Joseph Calabrese, of Financial Relations Board, +1-212-827-3772
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