Oncologix Tech Inc. Acquires Dotolo, Gains Ongoing Sales, Patents, and New CEO
GRAND RAPIDS -- Oncologix Tech Inc. (OTCBB: OCLG), a diversified medical device and health care company, said Tuesday it has purchased all of the outstanding common stock of Dotolo Research Corp.
Terms were not disclosed.
Dotolo is a manufacturer of colon cleansing and bowel preparation medical equipment, with more than two decades of product research, development and sales.
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."
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.
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.
Dotolo owns numerous patents, with its primary patent on the Toxygen hardware, namely U.S. Patent No. 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.
Dotolo designs, manufactures and distributes the Toxygen hardware system with disposable speculums and tubing. The company has a valid registration as an 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.
Dotolo operates from two locations: 5,200 square feet of manufacturing and administrative space in Phoenix, Ariz. and 1,500 square feet of administration space in Clearwater, Fla.. OCLG's headquarters will remain in Grand Rapids.
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, S.C., COO of Crossroads Regional Hospital in Alexandria, La. and as Regional Sales Director at Centerpulse Orthopedics in Austin, Texas. 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 bachelor of science degree 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). Kramarz has a bachelor of science in accounting from Aquinas master's degree 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. Griffith provides 20 years of early stage medical device company experience to Oncologix. 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, Calif.
