Many new developments have occurred at Med Associates during the past few months. I have transitioned to a less active role as Chairman of the Board in anticipation of the next generation of our family taking over the company reins. My daughter Bridget, who received her Master's degree in Computer Science last May, works as my assistant. Brooks, my oldest daughter, is finishing her PhD in Electrical Engineering and is working as an engineer at MED Associates. Our middle daughter, Mary Dove, is married to Gerry Herrera, Ph.D. Vice President of Research & Development for Med Associates. Mary Dove and Gerry just had their first baby boy. Although I have enjoyed having girls in the family (our 3 girls and 3 granddaughters), it nice to see a boy join the family. Mary Dove keeps busy with their four children and our charitable foundation.
In January of this year, we established a new company called Catamount Research & Development Inc. Catamount R&D handles the research and development efforts of Med Associates as well as pursuing other opportunities. We have already seen new efficiencies in product development. My son-in-law, Gerry Herrera, Ph.D, is the president of this company. The new 10,000 square foot addition to our manufacturing facility is making it much easier to handle and ship larger items and is reducing our turn around time on orders.
A year-and-a-half ago, my daughters purchased Razel Scientific Instruments and have integrated it into their existing company Mansfield Research & Development, LLC. Sales of syringe pumps remain strong and are enhanced by the introduction of new pumps. Mansfield R&D has a Navigation Systems Department that continues to do well with Beacon Signal Generators used by the U.S. Coast Guard for their Differential GPS systems. Other countries have purchased these units and are investigating the potential of adopting the U.S. Coast Guard system.
This is an exciting time for us, and you can be assured of the continuity of our companies through the next generation.
Sincerely,
Karl R. Zurn, M.E.E.
