Microfluidics names two to board

March 8, 2010 by MassDevice staff

Microfluidics International Corp. (OTC:MFLU) named two new members to its board of directors, a former Boston Scientific Corp. (NYSE:BSX) executive and the former CEO of Epichem Inc., now a Sigma Aldrich subsidiary.

The Newton, Mass.-based manufacturer of material-processing tools said it tapped Henry Kay and Stephen Robinson for its board. Kay has a 35-year history in the medical industry, with stints at Schering-Plough, Allergan Europe and American Home Products. His last stop was at Boston Scientific, where he was group vice president for new market development and strategic planning in the endosurgery division. Kay, who retired from BSX in 2006, is the U.S. partner of Medica Venture Partners, a healthcare VC firm based in Israel.

Robinson is vice president of SAFC Hitech at Sigma Aldrich, which he joined in 2007 after Sigma Aldrich purchased Epichem. Robinson was CEO of that semiconductor chemical processors supplier, according to a press release.

Kay and Robinson join president and CEO Michael Ferrara, Leo Pierre Roy, Eric Walters and chairman George Uveges on the Microfluidics board.

Microfluidics posted sales of $4.2 million during the three months ended Dec. 31, 2009, up 22.7 percent compared with $3.5 million during the same period in 2008. The company swung to fourth-quarter profits of $80,000, or 1 cent per share, compared with net losses of $1.7 million, or 17 cents per share, during Q4 2008.

For the full year, revenues were $15.7 million, up 5.8 percent compared with $14.9 million during 2008. Net losses narrowed to $362,000 (3 cents per share) for 2009, compared with $4 million (39 cents per share) during the prior year.

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