Printer Friendly

NUTRAMAX COMPLETES OPTOPICS ACQUISITION

 GLOUCESTER, Mass., June 8 /PRNewswire/ -- NutraMax Products, Inc. (NASDAQ: NMPC), a manufacturer and marketer of private label health and personal care products, today announced it has completed its acquisition of Optopics Laboratories Corporation.
 Optopics, based in Fairton, NJ, manufactures private label OTC and prescription ophthalmic products for both retail and industrial customers. The company has been in business since 1983 and had sales of nearly $5 million in 1992. Optopics currently offers a broad line of products in the OTC contact lens solution, artificial tears, and eye drop categories, as well as generic prescription eye care products.
 This acquisition provides NutraMax with significant expansion potential into the $1 billion ophthalmic market. According to Donald E. Lepone, president and chief executive officer of NutraMax, "The addition of Optopics strengthens our position as an important private label supplier to the retail trade. Optopics has a reputation for high quality products which, when coupled with the sales and marketing expertise of NutraMax, is projected to result in a significant increase in sales. With higher priced, brand name manufacturers dominating the ophthalmics market, we are extremely excited by the potential of these new product lines for NutraMax."
 To support the acquisition, NutraMax has hired three key pharmaceutical, manufacturing and marketing executives to supplement the existing Optopics team:
 Michael C. Bill, vice president, operations, will be the senior executive at Optopics, overseeing all manufacturing and laboratory operations. He has 15 years experience in the pharmaceutical industry, most recently as facilities manager of Naska Pharmacal, Inc., Division of the Rugby/Darby Group. This follows 10 years at Lederle Laboratories where he held a variety of manufacturing positions. Bill graduated from Dartmouth College in 1975 with a B.A. in Biology.
 Dr. Greg Severin, director quality control, has over 13 years experience at major pharmaceutical companies such as Purdue Frederick and Hoffman-LaRoche. Dr. Severin, since earning his Ph.D. in Physical- Organic Chemistry at the University of Basel, Switzerland, has published frequently. He will oversee Optopics quality, regulatory affairs, and R&D departments.
 Neil Donnenfeld, director of marketing, will develop and manage the business building products for the OTC opthalmics line. Donnenfeld recently spent four years in various marketing positions at the Richardson-Vicks Division of Proctor & Gamble where he worked on a number of product lines including Clearasil, Oil of Olay, and Bain de Soleil. He is a graduate of Dartmouth College (B.A.) and the Wharton School (MBA).
 NutraMax Products, Inc. is the leading private label manufacturer and distributor of disposable douche, ready-to-use enema, Pediatric Electrolyte Oral Maintenance Solution, and disposable baby bottles for the store brand market. The company recently reported six month 1993 sales of $14.9 million and income of $1.8 million, up 28 percent and 18 percent respectively from the prior year.
 -0- 6/8/93
 /CONTACT: Donald E. Lepone, chief executive officer of NutraMax Products, Inc., 508-283-1800; Lynn Morgen or Amy Weisman, 212-850-5600, of Morgen-Walke Assoc., for NutraMax/


CO: NutraMax Products, Inc. ST: Massachusetts IN: HEA SU: TNM

SJ -- NE004 -- 6356 06/08/93 07:59 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 8, 1993
Words:507
Previous Article:SYMBOL INTRODUCES PDT 3100 SCANNER-INTEGRATED TERMINAL
Next Article:SUMMIT TECHNOLOGY, INC. FILES REGISTRATION STATEMENT FOR 1,000,000 SHARES
Topics:


Related Articles
NUTRAMAX VOTED 1993 PRIVATE LABEL COMPANY OF THE YEAR
NUTRAMAX REPORTS FISCAL 1993 EARNINGS AND AGREEMENT TO ACQUIRE POWERS PHARMACEUTICAL CORPORATION
NUTRAMAX COMPLETES POWERS ACQUISITION
NUTRAMAX COMPLETES ACQUISITION OF MI-LOR ASSETS
NUTRAMAX TO EXPLORE STRATEGIC ALTERNATIVES
NUTRAMAX REPORTS FOURTH QUARTER AND FISCAL YEAR SALES AND EARNINGS
NutraMax to Repurchase 47% of its Outstanding Shares
NutraMax Completes Repurchase of 47% of its Shares from MEDIQ
NutraMax Reports Third Quarter Sales And Earnings
NutraMax Announces Final Results Of Dutch Auction Self Tender Offer

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters