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Escalon(R) Medical Corp. Divest of its Vascular Access Product Line
Date:5/3/2010

WAYNE, Pa., May 3 /PRNewswire-FirstCall/ -- Escalon Medical Corp. (Nasdaq: ESMC) today announced the divesture of its SMARTNEEDLE and pd ACCESS Doppler guided needle product lines to Vascular Solutions, Inc. ( VASC).  

The sales price was $5,750,000, cash of $5,000,000 at closing and $750,000 payable in cash upon the successful completion of the transfer of the manufacturing to Vascular Solutions, plus a one time earn-out payment in an amount equal to 25% of the net sales of the VascuView TAP products sold between July 1, 2010 and June 30, 2011.   The manufacturing transfer is expected to be complete within four months. During this four month transition, Escalon will continue to manufacture product in its Wisconsin facility under a supply agreement concurrently entered into with Vascular Solutions.

As a business, Escalon Vascular Access has matured over the eleven years under Escalon ownership. Management's goals to develop a strong presence in the catheter laboratory market, achieve proof of concepts for several other applications and to add visual ultrasound to the product portfolio, were realized up to and during fiscal 2010.

"The divestiture of the Vascular Access product line was based on extensive strategic evaluation which concluded that the divesture of these non core product lines would enable us to better focus our efforts and resources on our Ophthalmic and IVD businesses," said Richard J. DePiano, Jr., President of Escalon. "We expect to use the cash we
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SOURCE Escalon Medical Corp.
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