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 and accountability."
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.