VisionCare Appoints Richard Powers Executive Vice President Hiring of Industry Veteran Strengthens and Broadens Management Team

SARATOGA, Calif., Nov. 30, 2010 /PRNewswire/ -- VisionCare Ophthalmic Technologies, Inc., a developer of advanced visual prosthetic devices, today announced Richard P. Powers has been appointed Executive Vice President. Mr. Powers joins the company as it expands management capabilities and adds resources during the company's commercialization of its products designed to improve vision in patients with end-stage age-related macular degeneration (AMD).

Mr. Powers has more than thirty years of successful finance, business development, administration, and general management experience in the pharmaceutical, biotechnology, and medical device fields.  Most recently, he was President and CEO of Aspire Medical, Inc.  From 2001 to 2008, Mr. Powers was Vice President and CFO of Anesiva, Inc., a biotechnology company.  He was Executive Vice President and President of European Operations at CardioGenesis Corporation from 1996 to 2001.

Prior to CardioGenesis, Mr. Powers was Senior Vice President at Roche and Senior Vice President and CFO at Syntex, an NYSE listed pharmaceutical company with revenues of $2.5 billion, which was acquired by Roche.  

"We are very pleased to have Dick on our team with his demonstrated management and leadership capabilities, knowledge, and broad experience in the medical device, biotechnology, and pharmaceutical arenas," commented Allen W. Hill, VisionCare's President and CEO. "He will initially be responsible for company financial and administration activities, and will assume additional responsibilities as VisionCare grows."

Mr. Powers has served on the boards of a number of private and public companies.  He currently serves on the board of Cardica, Inc., a NASDAQ listed medical device company.  He holds an MBA from University of Rochester, Rochester, NY and a B.S. in Accounting from Canisius College, Buffalo, NY.

About VisionCare Ophthalmic Technologies, Inc.

VisionCare Ophthalmic Technologies, Inc., headquartered in Saratoga, CA, is a privately-held company focused on development, manufacturing, and marketing of implantable ophthalmic devices and technologies that are intended to significantly improve vision and quality of life for individuals with untreatable retinal disorders. VisionCare's Implantable Miniature Telescope was invented by company founders Yossi Gross and Isaac Lipshitz. Information on VisionCare can be found at www.visioncareinc.net.  Patients and physicians can find more information about the telescope implant and related treatment program at www.centrasight.com.

SOURCE VisionCare Ophthalmic Technologies, Inc.



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