OraSure Appoints Chairman
Mr. Watson joined OraSure's Board in May 2002, after a distinguished career in the pharmaceutical industry, spanning 33 years. Prior to his retirement in May 1999, he served as President and Chief Executive Officer of Novartis Corporation, the U.S. subsidiary of Novartis A.G. Prior to that, Mr. Watson was President and Chief Executive Officer of Ciba-Geigy Corporation, after many years serving as President of Ciba's U.S. Pharmaceuticals Division. Mr. Watson holds an M.A. degree in pure mathematics from Churchill College, Cambridge University and is a member of the Chartered Institute of Management Accountants. Mr. Watson also serves on the Boards of Engelhard Corporation, Dendreon Corporation and Genta Incorporated, as well as a number of privately held biotech companies.
Mr. Crouse is a Managing Director of HealthCare Ventures LLC, a leading life sciences venture capital firm, which invested in STC Technologies in April 1999. STC was a private company and predecessor of OraSure Technologies. Mr. Crouse served as a member of STC's Board of Directors, and became Chairman of OraSure's Board when the Company was formed through the merger of STC and Epitope, Inc. in September 2000.
"On behalf of the Board and the Company's management team, I want to thank Bill Crouse for his substantial contributions to the Company over the past four years," said Mike Gausling, President and CEO of OraSure Technologies. "Bill has been instrumental in shepherding the Company from its early private days up to our present position as a growing public company with an exciting pipeline of new products and technologies. He has brought a wealth of experience and business acumen to the Company and was instrumental in recruiting many of our Board members, including Doug Watson. I will personally miss Bill's commitment to the Company's success and his role as a mentor and advisor to me in establishing the strategic direction of the Company. I am pleased to welcome Doug Watson as our new Chairman, and look forward to continued successes under his proven leadership."
About OraSure Technologies
OraSure Technologies develops, manufactures and markets oral fluid specimen collection devices and tests and other diagnostic products using its proprietary technologies, including immunoassays and other in vitro diagnostic tests and other medical devices. These products are sold in the United States and certain foreign countries to government agencies, clinical laboratories, physicians' offices, hospitals, commercial and industrial entities, and various distributors.
OraSure Technologies is the leading supplier of oral-fluid collection devices and assays to the life insurance industry and public health markets for the detection of antibodies to HIV-1. In addition, the Company supplies oral-fluid testing solutions for drugs of abuse testing. For more information on the Company, please go to www.orasure.com.
CONTACT: OraSure Technologies, Inc.
Ronald H. Spair, 610/882-1820
Investorinfo@orasure.com
or
www.orasure.com
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