MediCor Ltd. Announces the Resignation of Donald K. McGhan
January 24 2007 - 7:56PM
PR Newswire (US)
LAS VEGAS, Jan. 24 /PRNewswire-FirstCall/ -- MediCor Ltd.
(OTC:MDCR) (BULLETIN BOARD: MDCR) today announced that Donald K.
McGhan has resigned as MediCor's Chairman and as a director. About
MediCor Ltd. MediCor acquires, develops, manufactures and markets
products for medical specialties in the aesthetic, plastic and
reconstructive surgery and dermatology markets. Products include
surgically implantable prostheses for aesthetic, plastic and
reconstructive surgery and scar management products. Its products
are sold worldwide to hospitals, surgery centers and physicians
through various distributors and direct sales personnel. MediCor's
strategy is to be the leading integrator of selected international
medical device markets, technologies and businesses. To achieve
this strategy, MediCor intends to build upon and expand its
business lines, primarily in the aesthetic, plastic and
reconstructive surgery and dermatology markets. MediCor intends to
both expand existing product lines and offerings and acquire
companies and other assets, including intellectual property rights
or distribution rights. Forward-Looking Statements This release may
contain forward-looking statements. Such statements are based upon
the current beliefs and expectations of MediCor's management and
are subject to significant risks and uncertainties. Actual results
may differ from those set forth in the forward-looking statements.
The following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements: our
ability to sustain continued losses and obtain requisite additional
financing to continue operations; the acceptability to regulators
of our regulatory data and submissions; the ability to obtain
governmental approvals to market our products; the timing of our
and our competitors' approvals and entry to markets; the effect of
such timing and the related delays in revenues and continued
expenses and their effect on our ability to successfully and
profitably operate our businesses; increased competition and its
effect on pricing, spending, third-party relationships and
revenues; the risk that businesses we acquire will not be
integrated or operated successfully; the risk that cost savings or
other anticipated benefits from acquisition transactions may not be
realized or may take longer to realize than expected; disruption
from transactions making it more difficult to maintain
relationships with customers, employees or suppliers; the outcome
of legal proceedings; the risk of new and changing regulations in
the U.S. and internationally; the risk of instability in the
capital markets in the U.S. and internationally; and the ability to
effect acquisitions to continue to execute on our growth plans.
Additional factors that could cause MediCor's results to differ
materially from those described in the forward-looking statements
can be found in MediCor's Annual Report on Form 10-K for the year
ended June 30, 2006, subsequent quarterly filings on Form 10-Q, and
other announcements on Form 8- K, all of which have been filed with
the Securities and Exchange Commission and are available at the
Securities and Exchange Commission's Internet site (
http://www.sec.gov/ ). DATASOURCE: MediCor Ltd. CONTACT: Marc S.
Sperberg of MediCor Ltd., +1-702-932-4560, ext. 308
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