GOTEBORG, Sweden, April 4, 2002 (PRIMEZONE) -- Vitrolife AB:
At the Board meeting following the Annual General Meeting yesterday, Patrik Tigerschiold was elected new Chairman of the Board. The previous Chairman, Professor Lars Hamberger will continue in the Company as ordinary Board member with particular emphasis on research and development issues within embryonic stem cell technology.
Vitrolife
Vitrolife's business mission is to develop, produce and sell advanced products and systems for the preparation, cultivation, preservation and support of cells, tissues and organs. Vitrolife intends to further expand the Company's production capacity to meet an expected increase in demand for its products, as well as strengthen its global market position as a leading company in the development of innovative cell and tissue technologies.
Vitrolife believes that the number of procedures performed annually involving tissue and cell technologies will increase as new treatments are introduced and existing treatments are improved. In addition, Vitrolife expects that the regulation surrounding approval processes and quality control for its products will increase. Vitrolife aims to create competitive advantages from this regulation by meeting and exceeding expected future demands of regulatory authorities, ahead of the Company's competitors.
Since it commenced its operations in 1993, Vitrolife has expanded rapidly. The Company currently has over 90 employees and sells its products in over 80 countries. During the latest five-year period, sales have steadily increased by and totaled more than SEK 100 million for the fiscal year 2001.
The Vitrolife share is listed on the Stockholm Exchange (Stockholmsborsen) O-list under the ticker VITR.
This information was brought to you by Waymaker http://www.waymaker.net