ABAXIS Announces Founder and Chairman Gary Stroy Leaving to Join New
Venture Capital Firm
BusinessWire, Wednesday, December 24, 1997 at 09:18
SUNNYVALE, Calif.--(BUSINESS WIRE)--Dec. 24, 1997--ABAXIS
Inc. (NASDAQ:ABAX), a medical products company manufacturing
point-of-care blood analysis systems, Wednesday announced the
resignation of Gary H. Stroy as chairman of the board.
Stroy has joined MedVenture Associates, a venture capital firm,
as a General Partner. The resignation will become effective Dec. 31,
1997.
Clint Severson, president and chief executive officer, commented:
"We owe a tremendous debt of gratitude to Gary Stroy for his early
vision of ABAXIS. His great accomplishment in shepherding the
company from a new concept of how blood tests could be performed,
through early stages of product development and market introduction
is a testament to both his vision and his persistence.
"Since then, we have become an operational company that has
emerged as a strong competitor in both the human and veterinarian
blood analysis markets. We are very fortunate to have benefited from
his expertise."
Stroy commented: "It is unfortunate that continuing to serve on
the board of ABAXIS would potentially be in conflict with the new
direction of my career. My association with ABAXIS has been a
tremendous experience. I wish ABAXIS and all the people associated
with the company every success. I leave knowing that ABAXIS is in
very good hands under the leadership of Clint Severson."
Founded in 1989, ABAXIS develops, manufactures and markets
portable blood analysis systems for use in any patient care setting
to provide clinicians with rapid blood constituent measurements. The
system consists of a compact, 6.9 kilogram, portable analyzer and a
series of 8 cm diameter single-use plastic disks, called reagent
discs, which contain all the reagents necessary to perform a fixed
menu of tests.
The system can be operated with minimal training and perform
multiple routine tests on whole blood using either venous or
fingerstick samples. The system provides test results in less than
15 minutes with the precision and accuracy equivalent to a clinical
laboratory.
CONTACT: ABAXIS Inc., Sunnyvale
Ting Lu, 408/734-0200
or
Coffin Communications Group
John Muir, 818/789-0100 |
