BRENTWOOD, N.Y., May 28, 2013 (GLOBE NEWSWIRE) -- Medical Action Industries Inc. (Nasdaq:MDCI), a leading supplier of medical and disposable surgical products, today announced the appointment of Paul Chapman as its new President and Chief Operating Officer, effective May 28, 2013.
Kenneth W. Davidson, Chairman of the Board of Directors said, "Paul Meringolo, who has successfully led this Company through many stages of growth, will remain as Chief Executive Officer and continue to serve as a member of the Board of Directors. Going forward, he will leverage his lengthy history with the Company and his extensive industry relationships as he dedicates his focus on the continued strategic activities of the Company while Paul Chapman assumes responsibilities for the Company's operations."
Since October 2012, Mr. Chapman has been a member of the Board of Directors, and since January 2013, Mr. Chapman has been the interim Chief Operating Officer. With this new appointment, Mr. Chapman will continue as a member of its Board of Directors. Mr. Davidson further commented, "Paul Chapman has the operational experience, leadership and strategic vision to create future success at Medical Action. He will work with all of the Company's corporate management teams and Strategic Business Units to drive corporate objectives and accountability."Paul Meringolo said, "I've worked intimately with Paul Chapman since he joined our Company and in a relatively short period of time we have developed a strong partnership and made significant improvements across the organization. I am extremely excited that he has accepted the opportunity to help guide Medical Action in its next chapter of growth." Mr. Chapman was Chairman and Chief Executive Officer of National Rehab Corporation, a distributor of wound care, ostomy, urological and orthopedic supplies, from February 2008 through September 2012 until its sale to a large healthcare conglomerate. From November 2007 through January 2009, Mr. Chapman served as a director for DJO Global, Inc., a leading global manufacturer and provider of high-quality, orthopedic devices with a broad range of products used for rehabilitation, pain management and physical therapy. From January 1994 through December 2007, he held various senior executive positions, including President and Chief Operating Officer, at ReAble Therapeutics (and its predecessors Encore Medical Corp and Chattanooga Group, Inc.), a Blackstone Group portfolio company and a global manufacturer of orthopedic implants and rehabilitation devices. From January 1988 to January 1994, he held various executive positions with Stryker Corporation, a provider of orthopedic implants, surgical instrumentation, endoscopy equipment, hospital beds and stretchers.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV