Message #7 From:
Stock News Bot Date: September 23, 2005 01:30:00 AM
OISI News MediVision Sells 400,000 Shares of Ophthalmic Imaging Systems' Common Stock
SACRAMENTO, Calif.--(BUSINESS WIRE)--Sept. 23, 2005--Ophthalmic Imaging Systems (OTCBB:OISI) (OIS), a leading provider of ophthalmic digital imaging systems, announced today that MediVision Ltd., its major shareholder, signed an agreement to sell 400,000 shares of OIS's common stock to Meadowbrook Opportunity Fund, LLC at the market price per share of $1.20. As a result of the agreement the public float increases to approximately 4.6 million shares.
Meadowbrook invests primarily in companies with a history of positive earnings and market capitalizations of less than $300 million. Its main strategy is to discover companies that have not yet sparked an institutional following, but have proven track records, including profitable operations, significant sales growth, above average margins, and leadership in a small, but growing industry or market niche.
Gil Allon, Chief Executive Officer of Ophthalmic Imaging Systems, said, "I am pleased to announce MediVision's agreement with Meadowbrook Opportunity Fund. Over the past year and a half OIS has successfully introduced the Company's story to new institutional investors, increasing its institutional investor base. Management has specifically targeted long-term investors that possess a solid knowledge of micro- and small-cap equities. We recognize the importance of increasing the awareness of OIS to the investment community as the Company continues to grow. From 2002 through 2004, OIS reported a compound annual growth rate of 74% and 13% for net income and revenue, respectively. Both management teams of OIS and MediVision continue to search for potential investors for similar transactions, which increases the Company's public float, and liquidity, with no dilution to shareholders."
About Ophthalmic Imaging Systems
Ophthalmic Imaging Systems, a majority-owned subsidiary of MediVision, is the leading provider of ophthalmic digital imaging systems. The Company designs, develops, manufactures and markets digital imaging systems and informatics solutions for the eye care market. With over twenty years in the ophthalmic imaging business, the Company has consistently introduced new, innovative technology. The Company, together with MediVision, co-market and support their products through an extensive network of dealers, distributors, and direct representatives.
Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the Company's control, which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.
