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Escalon® Medical Corp. Sells Its Clinical Diagnostics Business

Founded in 1987, the Company ( www.escalonmed.com) develops markets and distributes ophthalmic diagnostic and surgical products. 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 the Company 's distribution capabilities, although such partnerships or acquisitions may not occur. The Company has headquarters in Wayne, Pennsylvania and operations in Long Island, New York, New Berlin, Wisconsin and Stoneham, Massachusetts.

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. 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 the operations of the Company business units, including the ability to make acquisitions and the integration of any acquisitions it 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 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, 2012, 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.

SOURCE Escalon Medical Corp.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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