STOUGHTON, Mass., May 3 /PRNewswire/ -- STD Med, Inc. a developer and manufacturer of medical devices based in Stoughton, Massachusetts, announced the buy-back of the minority shareholder interest held by James Lousararian for approximately the past six years and a change to its board of directors, which included the resignation of James Lousararian.
"The family is very pleased to have the Company returned to its prior ownership structure and is looking forward to another fifty years of innovation," said Steven Tallarida, president of STD Med. The Company, founded by Primo Tallarida in 1953 inside the family chicken coupe, has experienced extraordinary growth under the ownership and direction of sons Steven and Jon Tallarida and its senior management.
In less than ten years, STD Med has introduced four new medical device start-up companies.
* Angiolink Corp., a developer of femoral artery closure technology,
utilizing a novel staple, was sold to Medtronic, Inc. in November 2004.
* Arthrosurface, Inc. based in Franklin, MA, specializes in the repair of
early stage cartilage damage. Arthrosurface has developed and received
FDA clearance for several of the orthopedic industry's first true
"mini" total joint systems. The company's HemiCap System is receiving
great clinical acceptance.
* Spirus Medical Inc. has developed a revolutionary Endoluminal
Advancement System (EAS(TM)) for GI Endoscopy that represents a
significant breakthrough by enabling gastroenterologists to perform
flexible endoscopy procedures more efficiently. In addition, Spirus is
developing other devices incorporating their same proprietary helix
technology for use in urological and gynecological procedures.
* CardioSolutions is currently in incubation at STD Med. CardioSolutions
is developing a minimally invasive heart repair system to treat
patients with mitral valve prolapse. Their Mitral Spacer (patent
pending) is percutaneously placed into the heart. The company believes
this device will create a major breakthrough in mitral valve repair.
Andrea Patisteas, Vice President of Sales & Marketing at STD Med said, "It is our intention to incubate one or more innovative technologies every fourteen to eighteen months."
For further information, contact STD Med, Inc. P.O. Box 420, Stoughton, MA 02072 or call 781-828-4400.
STD Med, Inc.