Coronado Industries Inc. Announces Confidentiality Agreement with Storz Instrument Co.FOUNTAIN HILLS, Ariz.--(BUSINESS WIRE)--Sept. 16, 1997-- Coronado Subsidiary, Ophthalmic International Inc., Vacuum Fixation Device for Glaucoma glaucoma (glôkō`mə), ocular disorder characterized by pressure within the eyeball caused by an excessive amount of aqueous humor (the fluid substance filling the eyeball). Treatment Subject of Agreement Coronado Industries, Inc. (BB: CDIK) today announced that its 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. Ophthalmic International, Inc. ("Ophthalmic") has entered into a confidentiality agreement with Storz Instrument Company ("Storz"), to initiate discussions with Ophthalmic relative to investigating the advisability of entering into a mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" arrangement with respect to Ophthalmics's vacuum fixation device which lowers intra ocular pressure.. Coronado Industries, Inc., through its wholly owned subsidiary Ophthalmic International, Inc., holds the patents on this device as well as a patent on the procedure, a non-invasive, non-pharmacological treatment for Open Angle and Pigmentary Glaucoma. Through its wholly owned subsidiary, Arizona Glaucoma Institute, Inc., the Company offers glaucoma diagnosis and treatment at its Scottsdale, Arizona Scottsdale (O'odham Vaṣai S-vaṣonĭ) is a city in Maricopa County, Arizona, United States, adjacent to Phoenix. Scottsdale has become internationally recognized as a premier and posh tourist destination, while maintaining its own identity and culture as " , clinic. Storz Instrument Company is one of the world's leading suppliers of high quality medical products, an international manufacturer and distributor of surgical instruments, diagnostic equipment, intraocular lens Intraocular lens Lens made of silicone or plastic placed within the eye; can be corrective. Mentioned in: Cataract Surgery implants, glaucoma pharmaceuticals and other medical products. Storz is a wholly owned subsidiary of American Home Products Corporation, (NYSE-AHP). In the U.S., glaucoma is the 2nd leading cause of blindness. About three percent of the U.S. population (an estimated 2,000,000 persons) suffer from the disease. Approximately 60,000 Americans are currently blind as a result of glaucoma. CONTACT: Coronado Industries Inc., Fountain Hills 602/837-6810 Fax: 602/837-6870 or G.R. Smith, 602/837-6810 or Broz Financial Ltd., Littleton, Colo. Investor Relations Investor relations The process by which the corporation communicates with its investors. , 800/279-2557 |
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