DiaSys Announces Additional $250,000 Order From China; Posts $700,000 In New Chinese Orders In Three Months.Business Editors & Health/Medical Writers WATERBURY, Conn.--(BUSINESS WIRE)--Sept. 4, 2002 DiaSys Corporation (AMEX AMEX See: American Stock Exchange : DYX DYX Dyslexia ) today announced that it has received a new order for $250,000 from China. The new order is for the Company's Parasep line of consumable products used to increase the accuracy of and reduce the cost to perform parasite and ovum analysis of human body fluids. In the past three months, the Company has received approximately $700,000 of orders from China for new sales of its urine sediment and parasitology Parasitology The scientific study of parasites and of parasitism. Parasitism is a subdivision of symbiosis and is defined as an intimate association between an organism (parasite) and another, larger species of organism (host) upon which the parasite is product lines, all for delivery within the next 12 months. Todd M. DeMatteo, DiaSys' 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. , said, "The technological advantages of our products, coupled with the fine working relationship we have with our strategic partner, Hua Sin Science Co., Ltd., continue to propel our growing success in China. Hua Sin has performed admirably in securing necessary certifications from the Chinese health ministry and implementing the plan to sell all of the Company's products to China's 60,000 medical laboratories. We see significant opportunities ahead as we expand our relationship with Hua Sin throughout the whole of China, Indonesia, Indochina, Singapore and other areas of the Pacific-Asia market." DiaSys had previously announced that the Health Ministry of China has approved its urinalysis and fecal concentrate instrument systems for use by all 60,000 medical laboratories in China. The Health Ministry of China is the equivalent of the Food And Drug Administration (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. ) in the United States. DiaSys Corporation designs, develops, manufactures and distributes proprietary medical laboratory equipment, consumables and test kits to healthcare laboratories worldwide. The Company is headquartered in Waterbury, CT. It operates in Europe through 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. based in Wokingham, England; and, in Pacific Asia through its strategic business partner located in Guangzhou, China. DiaSys and Parasep are registered trademarks of DiaSys Corporation. The foregoing press release includes "forward looking statements" within the meaning of, and made pursuant to, the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company or events, or timing of events, relating to the Company to materially differ from those expressed or implied by such forward looking statements. DiaSys refers interested parties to its most recent Annual Report on form 10-KSB and other SEC filings for a complete description of, and discussions about, the Company. |
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