Printer Friendly

OPTICAL RADIATION CORP. ISSUES STATEMENT REGARDING LAWSUITS

 OPTICAL RADIATION CORP. ISSUES STATEMENT REGARDING LAWSUITS
 AZUSA, Calif., May 27 /PRNewswire/ -- Optical Radiation Corp. (NASDAQ: ORCO) said today that it does not believe that two lawsuits recently filed against the company for negligence in connection with a voluntarily recalled product have merit, and the company plans to vigorously defend that allegation. These suits were the subject of an article in the May 27 edition of the Wall Street Journal.
 Richard D. Wood, president and chief executive officer, said the suits involve the company's Orcolon product, a gel used to protect eye tissue during cataract removal and other ophthalmic surgical procedures. He said the company voluntarily recalled the product when it was discovered that certain batches of raw materials may have been contaminated.
 "As in all product liability matters, we have referred these two suits to our insurance company for review and claims processing," said Wood. "We believe the company's insurance coverage is adequate for liability related to its medical device products, including Orcolon."
 Optical Radiation designs and manufactures a wide range of precision optical components and systems for medical, industrial and scientific applications.
 -0- 5/27/92
 /CONTACT: Richard D. Wood, president and CEO of Optical Radiation, 818-969-3344; or Roger S. Pondel of Pondel Parsons & Wilkinson, 310-207-9300, for Optical Radiation/
 (ORCO) CO: Optical Radiation Corp. ST: California IN: MTC SU:


DM-CH -- LA020 -- 4390 05/27/92 16:01 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 27, 1992
Words:230
Previous Article:RAYTHEON ELECTS TWO VICE PRESIDENTS
Next Article:OPTICAL RADIATION REPORTS RESULTS
Topics:


Related Articles
OPTICAL RADIATION APPOINTS NEW GROUP PRESIDENTS
OPTICAL RADIATION COMMENTS ON 13D FILING
Mediscience, General Electric and Research Foundation of the City University of New York Collaboration Announced
Applied Imaging Responds to Patent Infringement Claims.
BSD Medical Anticipates Patent for New Device to Optimize Treatments With Radiation.
Hyperthermia - 'the Most Potent Radiation Sensitizer Known,' According to Society of Thermal Medicine Conference.
Hyperthermia Therapy for Recurrent Breast Cancer Added to 2007 NCCN Guidelines.
President of German Cancer Society to Lead Cancer Treatment Program With New BSD-2000/3D System.
BSD Medical to Participate in NCCN Conference Updating Cancer Treatment Guidelines.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters