Biopool International Announces Buyback of Shares From Institutional Holder.VENTURA, Calif.--(BUSINESS WIRE)--Nov. 11, 1998--Biopool International Inc. (Nasdaq:BIPL BIPL Biphase Level ) Wednesday announced that as part of the company's stock-repurchase plan approved by the board of directors in June of this year, it has privately purchased the last remaining shares held by Zesiger Capital Group of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , previously the company's largest institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . Michael D. Bick, Ph.D., chairman and chief executive officer, stated: "Zesiger Capital Group had acquired a total of 1.6 million shares in private placements that took place in May of 1993 and December of 1996. However, they have been a net seller of Biopool stock since early 1998, which has created tremendous downward pressure on the price of Biopool's common stock. "Biopool's management believes that a block purchase of the last remaining shares held by Zesiger Capital Group will help reduce the downward pressure on Biopool's stock caused by Zesiger's sales." Founded in 1987, Biopool International develops, manufactures and markets a full range of test kits to assess and diagnose disorders of blood coagulation Noun 1. blood coagulation - a process in which liquid blood is changed into a semisolid mass (a blood clot) blood clotting clotting, coagulation, curdling - the process of forming semisolid lumps in a liquid , thrombotic risk factors, fibrinolysis fibrinolysis /fi·bri·nol·y·sis/ (fi?brin-ol´i-sis) dissolution of fibrin by enzymatic action.fibrinolyt´ic fi·bri·nol·y·sis n. pl. , platelet function and the vascular system; specialty chemistry controls used to monitor and measure the presence of drugs of abuse; and blood-group serology Serology The division of biological science concerned with antigen-antibody reactions in serum. It properly encompasses any of these reactions, but is often used in a limited sense to denote laboratory diagnostic tests, especially for syphilis. products used to screen for antibodies and group and type whole blood. The company's product line of more than 150 Food and Drug Administration-approved products is sold to hospitals, blood-bank facilities, and clinical and reference laboratories on a worldwide basis by the company's own sales representatives as well as through an extensive network of distributors. To learn more about Biopool, visit the company's Web site at http://www.biopool.com. Note: This news release contains forward-looking statements regarding the effect on stock price that may result from the company's repurchase of shares held by an institutional investor, which are based upon current expectations that involve a number of risks and uncertainties including but not limited to technological innovations of competitors, changes in health-care regulations, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. claims, foreign-currency fluctuation, and product acceptance or changes in government regulation of the company's products, as well as other factors discussed in the company's last report on Form 10-K-SB under "Risk Factors." |
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