ARDMORE, Pa., April 25, 2014 /PRNewswire/ -- Escalon Medical Corp. (ESMC) today announced that it has entered into a distribution agreement with Long Beach, NY based BiCOM Inc., to distribute its transpalpebral "Diaton" tonometer. The Diaton tonometer will be featured alongside the Company's new VuPad™ ultrasound system at the Annual Symposium and Congress of the American Society of Cataract and Refractive Surgery (ASCRS) in Boston, April 25-29 (booth 873).
"We are excited to offer the Diaton tonometer as a complementary product to our pachymetry ultrasound products," commented Chief Executive Officer, Richard J. DePiano Jr. "Through our experienced sales organization with reach into 90 countries, we are well positioned to expand distribution of the Diaton tonometer, particularly into Asia and Europe. Adding best-in-class ophthalmic product solutions to our distribution network also demonstrates our ongoing commitment to build on our position as a leader in ophthalmic diagnostic instrumentation."
The Diaton tonometer is the world's only non-corneal contact tonometer used through the eyelid to quickly and painlessly determine intraocular pressure without directly touching the cornea or requiring use of topical anesthesia. The Diaton tonometer is particularly useful in cases where standard direct applanation tonometry is difficult or not viable, such as with pediatric patients, in presence of certain corneal pathology, following corneal surgery, and in cases of eye trauma.
The Sonomed Escalon booth 873 at ASCRS will also feature for sale the Company's newly introduced VuPad™ portable ultrasound device. The VuPad™ had a successful showing at the recent 2014 World Ophthalmic Congress in Tokyo as well as The Exchange 2014 in Boston, the annual meeting of Vision Source, North America's premier network of private practice optometrists.
About Escalon Medical
Founded in 1987, Escalon Medical Corp. (ESMC) specializes in the development, marketing and distribution of ophthalmic diagnostic imaging and surgical products branded under the Sonomed Escalon name. Products include a variety of ophthalmic ultrasound, digital imaging and photography, and image management systems, as well as surgical products including intraocular gases, fiber optic light guides and sources, and other surgical vitreoretinal instruments. The Company seeks to grow its ophthalmic business by further developing and diversifying its product offering through internal development programs, strategic partnerships, and the acquisition of technology so as to best leverage the Company's distribution capabilities. The Company has headquarters in Ardmore, Pennsylvania and research and development, manufacturing and distribution operations in Lake Success, New York, New Berlin, Wisconsin and Stoneham, Massachusetts. For additional information visit www.escalonmed.com and www.sonomedescalon.com
Forward Looking Statements
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. These statements 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 its operations, including, the ability to make acquisitions and the integration of any acquisitions it may undertake, if any, of which there can be no assurance; grow our remaining ophthalmic business unit, including expanding its product pipeline, obtaining regulatory and marketing approvals, and commercializing, manufacturing and shipping new products; improve our financial position; implement cost reductions; generate cash; and identify, finance and enter into business relationships and acquisitions. Other factors include uncertainties and risks related to: new product development, regulatory and marketing approvals, 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 the Company or third parties; introduction of competitive products; ability to reduce staffing and other costs and retain benefit of prior reductions; third party reimbursement and physician training, and 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 for year ended June 30, 2013, and its other filings with the Securities and Exchange Commission, all of which are available from the Securities and Exchange Commission as well as other sources.
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