Medical Action Industries Announces President and Chief Operating Officer
BRENTWOOD, N.Y., May 28, 2013 (GLOBE NEWSWIRE) -- Medical Action Industries
Inc. (Nasdaq:MDCI), a leading supplier of medical and disposable surgical
products, today announced the appointment of Paul Chapman as its new President
and Chief Operating Officer, effective May 28, 2013.
Kenneth W. Davidson, Chairman of the Board of Directors said, "Paul Meringolo,
who has successfully led this Company through many stages of growth, will
remain as Chief Executive Officer and continue to serve as a member of the
Board of Directors.Going forward, he will leverage his lengthy history with
the Company and his extensive industry relationships as he dedicates his focus
on the continued strategic activities of the Company while Paul Chapman
assumes responsibilities for the Company's operations."
Since October 2012, Mr. Chapman has been a member of the Board of Directors,
and since January 2013, Mr. Chapman has been the interim Chief Operating
Officer. With this new appointment, Mr. Chapman will continue as a member of
its Board of Directors.Mr. Davidson further commented, "Paul Chapman has the
operational experience, leadership and strategic vision to create future
success at Medical Action.He will work with all of the Company's corporate
management teams and Strategic Business Units to drive corporate objectives
Paul Meringolo said, "I've worked intimately with Paul Chapman since he joined
our Company and in a relatively short period of time we have developed a
strong partnership and made significant improvements across the organization.
I am extremely excited that he has accepted the opportunity to help guide
Medical Action in its next chapter of growth."
Mr. Chapman was Chairman and Chief Executive Officer of National Rehab
Corporation, a distributor of wound care, ostomy, urological and orthopedic
supplies, from February 2008 through September 2012 until its sale to a large
healthcare conglomerate. From November 2007 through January 2009, Mr. Chapman
served as a director for DJO Global, Inc., a leading global manufacturer and
provider of high-quality, orthopedic devices with a broad range of products
used for rehabilitation, pain management and physical therapy.From January
1994 through December 2007, he held various senior executive positions,
including President and Chief Operating Officer, at ReAble Therapeutics (and
its predecessors Encore Medical Corp and Chattanooga Group, Inc.), a
Blackstone Group portfolio company and a global manufacturer of orthopedic
implants and rehabilitation devices.From January 1988 to January 1994, he
held various executive positions with Stryker Corporation, a provider of
orthopedic implants, surgical instrumentation, endoscopy equipment, hospital
beds and stretchers.
Medical Action is a diversified manufacturer and distributor of disposable
medical devices and a leader in many of the categories in which it
competes.Its products are marketed primarily to acute care facilities in
domestic and certain international markets.The Company has expanded its
target market to include physician, dental and veterinary offices, out-patient
surgery centers, long-term care facilities and laboratories.
Medical Action's products are marketed nationally by its direct sales
personnel and extensive network of healthcare distributors.The Company has
preferred vendor agreements with national and regional distributors, as well
as sole and multi-source agreements with group purchasing organizations.
Medical Action's common stock trades on the NASDAQ Global Select Market under
the symbol MDCI and is included in the Russell Microcap® Index.
CONTACT: John Sheffield - Executive Vice President
and Chief Financial Officer
MEDICAL ACTION INDUSTRIES INC.
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