News - Josephthal Financial Advisor
Chromatics Color Sciences Engages Josephthal & Co. Inc. as Financial Advisor
NEW YORK, July 7 /PRNewswire/ -- Chromatics Color Sciences International, Inc. (Nasdaq: CCSI) announced today that it has engaged Josephthal & Co. Inc. as its financial advisor. Under the non-exclusive agreement, Josephthal will provide financial advice and general investment banking services to the Company with respect to business transactions and financings.
Today's announcement follows a series of significant positive developments for CCSI that have occurred in the past six months. During the first quarter of 2000, the Company's U.S. distribution partner for the ColorMate(R) TlcBiliTest System(R) and TLc-Lensette(TM) Calibration Standards -- Datex-Ohmeda and its Ohmeda Medical Division -- began marketing and placing the products in hospitals across the United States. Subsequently, two major healthcare purchasing groups, Premier Purchasing Partners L.P. and MAGNET (Mid Atlantic Group Network of Shared Services, Inc.) added the products to their respective portfolios of infant care products. In June, in a strategic move, the Company acquired privately-held cosmetics manufacturer Gordon Laboratories, with Gordon CEO Brian Fitzpatrick becoming President and Chief Operating Officer of CCSI.
CCSI Chief Executive Officer Darby Macfarlane said, "Step-by-step, we've been laying the groundwork for long-term growth and profitability. To continue moving forward, we feel we will benefit from the expertise that Josephthal can provide."
Josephthal & Co. Inc. is a leading full service investment banking and brokerage headquartered in New York City. Josephthal traces its roots to 1910 and provides inter-related services to three core client constituencies: emerging and middle-market corporations, institutional investors, and individual investor clients.
John O'Brien, Managing Director of Josephthal, said, "We are pleased to bring our investment banking resources to CCSI. The Company appears poised to make full use of its color science technology and to prosper. We look forward to helping CCSI achieve its objectives."....
Certain of the matters discussed in this announcement contain forward-looking statements.... |
