Biosensors International Appoints R. Chato Abad as Chief Financial Officer
NEWPORT BEACH, Calif., Dec. 1 /Xinhua-PRNewswire-FirstCall/ -- Biosensors International Group, Ltd. (''Biosensors'' or ''the Company''; Bloomberg: BIG SP), a developer, manufacturer and marketer of innovative medical devices for interventional cardiology and critical care procedures, today named Ms. R. Chato Abad as its new Chief Financial Officer, effective immediately. Ms. Abad, who is based in the Company's office in Newport Beach, California, brings to Biosensors more than 15 years of senior financial management experience in the pharmaceutical and medical device industries. Prior to joining Biosensors, Ms. Abad acted as interim Chief Financial Officer at the US Generics Division of Alpharma, Inc., a multi-national manufacturer of branded and generic pharmaceuticals with sales in excess of US$450 million. At Alpharma, she was closely involved in the successful sale of the US Generics Division to Actavis. Previously, she spent more than 10 years at Watson Pharmaceuticals, Inc. headquartered in Corona, California where she was the Vice President of Finance, and had responsibility for all financial, accounting and treasury functions as well as strategic planning. While at Watson, Ms. Abad was a key member of the management team that led Watson to its successful initial and secondary public offerings on the New York Stock Exchange. During her tenure, Ms. Abad was also instrumental in directing the financial functions of Watson through its accelerated growth from sales revenue of US$1 million to US$1.2 billion. Prior to her experience at Watson, Ms. Abad led the accounting function for a US$200 million division of a multinational manufacturer of ocular medical devices. ''With more than a decade of exceptional financial experience in a dynamically growing company like Watson, Chato certainly brings with her a wealth of experience that will be very valuable to Biosensors, said Mr. Yoh-Chie Lu, Chairman and CEO of Biosensors. ''I am confident that Chato can provide Biosensors with strong financial leadership and will be instrumental in the next phase of the Company's growth to create additional value for our shareholders.'' Ms. Abad received her bachelor of science in business administration degree from the College of the Holy Spirit, Philippines and holds an MBA from St. John's University, New York where she also received the Most Outstanding Scholastic Achievement Award in the field of accounting. About Biosensors International Group, Ltd. Biosensors develops, manufactures and markets innovative medical devices used in interventional cardiology and critical care procedures. Biosensors is well-positioned to emerge as a leader in drug-eluting stents, an evolving therapy that is rapidly gaining market share from traditional therapies such as bare-metal stenting and open-heart surgery. Biosensors has internally developed technology to address each component of a drug-eluting stent system, including a stent, a stent delivery catheter, a bioresorbable polymer and a proprietary anti-restenotic drug. It is pursuing two separate drug-eluting stent programs, BioMatrix(TM) and Axxion(TM), and has licensed aspects of its drug-eluting stent technology to four companies. Forward Looking Statements Certain statements herein include forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," ''estimate,'' ''anticipate,'' ''believe,'' ''project'' or ''continue'' or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but not limited to, customer acceptance and market share gains, competition from companies that have greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; the ability to recruit and retain quality employees as Biosensors grows; and economic and political conditions globally. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and Biosensors assumes no duty to update them to reflect new, changing or unanticipated events or circumstances. Media Contact Information Biosensors International Group Ms Tina Lim, Executive, Corporate Communications Tel: +65-6213-5712 Email: firstname.lastname@example.org Media Relations / Investor Relations Firms Singapore WeR1 Consultants Pte Ltd Ms. Mona Leong Senior Consultant Tel: +65-6737-4844 / Hp: +65-9187-4449 Email: email@example.com United States Allen & Caron Inc. Mr. Matt Clawson Executive Vice President, Investor Relations Tel: +1-949-474-4300 Email: firstname.lastname@example.org
SOURCE Biosensors International Group, Ltd.
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