4/2/2013 8:24:27 AM
GRAND RAPIDS, Mich., April 2, 2013 /PRNewswire/ -- Oncologix Tech Inc. (OTCBB: OCLG), a diversified medical device and healthcare company acquiring businesses in medical device cancer detection and prevention and healthcare services, has purchased all of the outstanding common stock of Dotolo Research Corporation. Dotolo is the leading global colon cleansing and bowel preparation medical device manufacturer, with more than two decades of product research, development and sales. Additional information can be found in the Company's Form 8-K as filed with the SEC.
"Dotolo is delighted to merge its efforts with Oncologix," said Wayne Erwin, CEO of Dotolo, who now has been elected Chairman and CEO of Oncologix. "We now can develop a stronger position in the medical device field, especially with products that support the detection and prevention of colorectal cancer. This strategic move will help us fund increased manufacturing capacity, increase current inventory levels, expand our sales and marketing team and acquire other medical device and healthcare-related companies." Mr. Erwin noted that this acquisition continues the strategic mission of OCLG to develop medical devices that assist in the detection, treatment and prevention of liver and colon cancers. The Company will continue its joint venture with German partner IUT targeting colorectal liver metastasis.
History:Dotolo is a FDA Registered, Class II, medical device manufacturer in the hydro-colonic irrigation and bowel preparation market. It began operations in 1989 and is the worldwide leader in hardware and disposable products sales in its field. It currently has an active customer base of more than 900 customers both domestically and internationally.
Patents: Dotolo owns numerous patents, with its primary patent on the Toxygen hardware, namely U.S. Patent #5,788,650, "Colon Hydrotherapy Apparatus" - Ultra Violet Water Filtration System. This patent is valid through 2018 and protects the product design and unique characteristics of our proprietary product both domestically and internationally.
Market: Dotolo designs, manufactures and distributes the Toxygen hardware system with disposable speculums and tubing. The Company has a valid registration as a FDA Class II medical device and is licensed by Health Canada, a CE mark for Europe. Dotolo is also currently in compliance with ISO 9001:2000 and ISO 13485:2003 regulations. Its products are primary used for colon and bowel preparation prior to medical procedures such as a colonoscopy or OB/GYN medical procedures and for individuals seeking health and wellness prevention and good colon health. There are currently more than 18 million colonoscopy procedures performed world-wide each year and Dotolo's mission is to continue to be the preferred choice of colon cleansing and bowel preparation by both patients and medical professionals.
Facilities: Dotolo operates from two locations: 5,200 square feet of manufacturing and administrative space in Phoenix, AZ and 1,500 square feet of administration space in Clearwater, FL. OCLG's headquarters will remain in Grand Rapids, MI.
Company CEO Wayne Erwin, 54, has three decades of leadership and management experience in medical device sales and marketing, and business operations. He previously served as the COO of Electronic Health Network, in Charleston, SC, COO of Crossroads Regional Hospital in Alexandria, LA and as Regional Sales Director at Centerpulse Orthopedics in Austin, TX Mr. Erwin was a Field Artillery Captain in the 101st Airborne Division of the U.S. Army, based at Ft. Campbell, KY, with assignments in both Panama and Honduras. He has a B.S. in Biology from Louisiana College.
Michael A. Kramarz, 43, has been the CFO of Oncologix since July 2004. He holds both a Certified Management Accountant designation (CMA) and a Certified Public Accountant designation (CPA). Mr. Kramarz has a B.S. in accounting from Aquinas College and a M.S. in taxation from Grand Valley State University.
Barry Griffith, 44, who has been a director of Oncologix since December 2004, remains on the Oncologix Board. Mr. Griffith provides 20 years of early stage medical device company experience to Oncologix. Mr. Griffith has been involved in the introduction of novel medical devices in the orthopedic, vascular, neurological and cancer markets for companies such as Mitek, Schneider, Novoste and Medtronic. He is the founder and principal of The Bench, an executive search firm in the medical device industry based in Newport Beach, California.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 8-K on file with the Securities and Exchange Commission.
About Oncologix Tech, Inc.:
Oncologix is a diversified medical device and healthcare holding company. For its customers, Oncologix provides FDA approved medical devices and state licensed healthcare services. For its shareholders, Oncologix acquires profitable operations that build, maintain and nourish shareholder value. The Company's corporate mission is to be the best small cap medical device and healthcare holding company in North America.
About Dotolo Research Corporation:
Dotolo has been a worldwide leader in developing, manufacturing and distributing hardware and disposable products in the colon cleaning and bowel preparation market for more than 20 years. Its products are primarily used for colon and bowel preparation prior to medical procedures, such as a colonoscopy or OB/GYN medical procedures, and for those seeking health and wellness prevention and good colon health.
Contact: Wayne Erwin, CEO
SOURCE Oncologix Tech Inc.