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
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
Media Relations / Investor Relations Firms
WeR1 Consultants Pte Ltd
Ms. Mona Leong
Tel: +65-6737-4844 / Hp: +65-9187-4449
Allen & Caron Inc.
Mr. Matt Clawson
Executive Vice President, Investor Relations
SOURCE Biosensors International Group, Ltd.