New York, NY, August 20, 2008 --(PR.com
)-- Gray Hudkins, President and Chief Executive Officer, Langer, Inc. (Nasdaq: GAIT) today stated "We remain very pleased with the performance and prospects for our Silipos business. We remain committed to continuing our efforts with the goal of maximizing shareholder value. We have retained Business Development Asia LLC to advise us on potential strategic alternatives for Silipos. As we have noted, this may include a sale of the business".
Euan Rellie, Senior Managing Director at Business Development Asia in New York is leading this assignment, with support from Melissa Wong, Associate and BDA's offices and network partners worldwide.
Langer, Inc., together with its wholly owned subsidiary Silipos, Inc. provides quality medical products to the long-term care, orthopedic, orthotic and prosthetic markets. Through its wholly owned subsidiaries Twincraft, Inc. and Silipos, Inc. the Company offers a diverse line of bar soap and other skincare products for the private label retail, medical and therapeutic markets. The Company sells its medical products primarily in the U.S. and Canada, and in more than 30 other countries, to national, regional, international and independent medical distributors and directly to healthcare professionals and patients. The Company sells its personal care products to branded consumer products companies, direct marketers, distribution partners, and specialty retailers, among others. Langer is based in Deer Park, NY, and has additional manufacturing facilities in Niagara Falls, NY, Winooski, VT and sales and marketing offices in Toronto, Canada; and New York, NY. You can learn more by visiting Langer's website at http://www.langerinc.com/
Silipos Inc., established in 1989, is a leader in the field of skin protection and skin care. “Silipos' corporate slogan, Tomorrow's Technology for Today's Medical Challenges, expresses the company's commitment to a growing line of innovative Silipos Gel products.” Silipos' proprietary Gel is a major breakthrough in skin protection, which is used in over 200 Silipos products such as bandages, wraps, and pads. The Gel incorporates a medical grade mineral oil that gradually diffuses onto the skin to reduce friction and pressure, improve skin elasticity, and minimize scarring. Primary brands of Silipos product lines include: Silopad(tm), ComfortZone(tm), WonderZorb(tm), Wonderflex(tm), NouveauDerm(tm), Move®, Silosheath(tm), and Siloliner(tm). Silipos products are used in healthcare specialties such as: Orthopedics, Podiatry, Wound Care, Burn Care, Prosthetics, Occupational Therapy, Physical Therapy, Plastic Surgery, Dermatology, Rheumatology, Sports Medicine, Cosmetology, and Home Health Care. Products are available through healthcare professionals as well as in stores selling home health supplies, pharmaceuticals, and sporting goods. They are sold worldwide in over 60 countries. Geligne Medical*, a division of Silipos®, is devoted primarily to cosmetic post-operative care and scar management. Silipos is an ISO 9001:2000 certified company whose products are CE marked.
Business Development Asia LLC was founded in 1996. BDA assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 55 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA's client list includes Air Products, Cadbury Schweppes, Celestica, DIC, DuPont, Ecolab, Global Power, Godrej, Great Lakes, Hanjin Shipping, Hercules, Huntsman, Inabata, Kimberly-Clark, Lear, Lubrizol, Mars, Molex, Morgan Stanley, Nalco, Reuters, Rohm & Haas, Ryder, Siemens, SigmaKalon, Sumitomo Chemical, Sun Chemical, TATA Auto Components, Tenneco, Tredegar, Visteon, WR Grace, and the British Government. Further information on BDA is available at www.bdallc.com.
For more information regarding this engagement, please contact Euan Rellie at firstname.lastname@example.org or Melissa Wong at email@example.com in New York on (1) 212 265 5300.