DiaSys Reports Additional Sales To China And Expanded Pacific-Asian Distribution; Reports Order Of $400,000 In New Product Sales.Business Editors WATERBURY, Conn.--(BUSINESS WIRE)--May 21, 2002 DiaSys Corporation (AMEX AMEX See: American Stock Exchange :DYX DYX Dyslexia ) today announced that it has received additional orders from China for approximately $400,000 in new product sales, bringing total sales to China in excess of $1,000,000 in the past three years. The Company also announced that, as part of its strategic growth plan, it is expanding its distribution model to other areas of Pacific-Asia including Korea, Taiwan, Indo-China, Indonesia and Malaysia from which the Company expects significant additional orders over the next several months. Todd M. DeMatteo, the Company's 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: "China, with more than 60,000 medical laboratory facilities, presents a significant and burgeoning world market. Our growing success in the region is due to the technological advantages of our products and to the strong relationship we enjoy with our strategic partner, Hua Sin Science Co., Ltd., based in Guangzhou, China. We believe that our success will continue to grow as we expand our distribution model to include additional territories in the region." He added: "At some point we will migrate the relevant portion of our consumables manufacturing to China, especially our Parasep collection and filtration tubes for 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 and our electrophoreses supplies where we see significant growth." 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. About DiaSys Corporation 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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