AngioDynamics Announces $3.5 Million Expansion Project.Business Editors & Health/Medical Writers QUEENSBURY, N.Y.--(BW HealthWire)--March 26, 2002 AngioDynamics, Inc., a wholly-owned subsidiary of E-Z-EM, Inc. (AMEX AMEX See: American Stock Exchange : EZM.A and EZM.B) today announced that it is moving forward with plans to more than double the current size of its corporate headquarters and manufacturing facility in Queensbury, New York Queensbury is a town in Warren County, New York, United States. It is part of the Glens Falls, New York, Metropolitan Statistical Area, and the Albany, New York Metropolitan Area. The population was 25,441 at the 2000 census. . The additional 32,000 square feet will add manufacturing capacity and consolidate warehouse and distribution functions. In addition, the Company plans renovations to upgrade its research, development and engineering capabilities. AngioDynamics will invest $3.5 million in the expansion project, which is expected to be completed in 2003. The facility expansion is designed to accommodate the Company's projected growth over the next five years, including the creation of new positions in production, research & development, and administration. AngioDynamics' President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Eamonn P. Hobbs, commented on the announcement: "Our expansion plans should enable AngioDynamics to continue meeting and exceeding the needs of our customers while ensuring our long-term commitment to the community. As an innovative leader in our industry, AngioDynamics has grown continuously since moving into our present facility ten years ago. This sustained growth, coupled with further development of product lines for our high growth interventional radiology marketplace, has led to this decision." AngioDynamics develops, manufactures and markets medical devices for interventional radiology, which uses traditional and new imaging procedures to perform minimally invasive diagnostic and therapeutic surgical procedures. The Company began operations in its Queensbury facility in 1992 and currently employs 240. About E-Z-EM, Inc. E-Z-EM, the world's largest manufacturer of contrast agents for gastrointestinal radiology, has developed the only CT injector on the market that can help detect contrast extravasation extravasation /ex·trav·a·sa·tion/ (ek-strav?ah-za´shun) 1. a discharge or escape, as of blood, from a vessel into the tissues; blood or other substance so discharged. 2. the process of being extravasated. , the new EmpowerCT(TM) with patented EDA (1) (Electronic Design Automation) Using the computer to design, lay out, verify and simulate the performance of electronic circuits on a chip or printed circuit board. (TM) technology. The Company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , AngioDynamics, manufactures a wide range of products, including angiographic, vascular access, thrombolytic thrombolytic /throm·bo·lyt·ic/ (throm?bo-lit´ik) dissolving or splitting up a thrombus, or an agent that so acts. thrombolytic 1. dissolving or splitting up a thrombus. 2. an agent that dissolves or splits up a thrombus. , angioplasty, stents, as well as abdominal infection drainage products. AngioDynamics' focus is on diagnostic and therapeutic products for interventional radiology and other areas of minimally invasive surgery minimally invasive surgery Laparoscopic surgery, see there. See Laparoscopic cholecystectomy. . Enteric enteric /en·ter·ic/ (en-ter´ik) within or pertaining to the small intestine. en·ter·ic adj. 1. Of, relating to, or within the intestine. 2. Products, Inc., another subsidiary, develops, manufactures and markets tests for detection of the ulcer- and cancer-causing bacterium Helicobacter pylori. For additional information, please contact Frank Kerrigon at 1-800-544-4624, ext. 325, (E-mail: fkerrigon@ezem.com) or visit our corporate web site at www.ezem.com. The statements made in this document contain certain forward-looking statements that involve a number of risks and uncertainties. Words such as "expects", "intends", "anticipates", "plans", "believes", "seeks", "estimates," or variations of such words and similar expressions, are intended to identify such forward-looking statements. Investors are cautioned that actual events or results may differ from the Company's expectations. In addition to the matters described above, the ability of the Company to develop its products, future actions by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. or other regulatory agencies, results of pending or future clinical trials, overall economic conditions, general market conditions, foreign currency exchange rate fluctuations, the effects on pricing from Group Purchasing Organizations, competition, including alternative procedures which continue to replace traditional fluoroscopic Fluoroscopic (fluoroscopy) An x-ray procedure that produces immediate images and motion on a screen. The images look like those seen at airport baggage security stations. Mentioned in: Hypotonic Duodenography procedures, as well as the risk factors listed from time to time in the SEC filings of E-Z-EM, Inc., including but not limited to its Form 10-Q for the quarter ended December 1, 2001, as well as its Annual Report on Form 10-K for the year ended June 2, 2001, may affect the actual results achieved by the Company. |
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