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Visiomed appoints new CEO

Visiomed appoints new CEO

Perth, Australia. 7 February 2005. Visiomed (ASX: VSG) today announced the appointment of William Dolphin as CEO, replacing the retiring Saliba Sassine who has accepted a non executive board position and will remain a major shareholder.

Dr Dolphin is a highly qualified biotechnology executive who has successfully integrated a PhD in biophysics with the commercialisation of technology as the CEO of emerging and established biotechnology companies in the USA and New Zealand.

The timing is ideal for the company with Dr Dolphin's skills in commercial production and sales and marketing, important following Visiomed's recent success in obtaining FDA 510(k) clearance for its novel child asthma device, the Funhaler(r). This is a major milestone for Visiomed as the FDA notification of the pre-market clearance as a Class II device allows Visiomed to market and sell the Funhaler(r) into the US, the world's biggest market for medical devices.

Dr Dolphin is moving to Perth with the CEO role effective from April, with his immediate focus and attention on the US overseeing the establishment of distribution partners, and the sales and marketing program for the Funhaler(r).

"The Board and current CEO have been working together to identify a highly qualified biotechnology executive to assume the role of CEO," said the Chairman Ian Macpherson.

"We are pleased that Saliba has agreed to remain with Visiomed as a non-executive director, shareholder, and consultant, a role he originally contracted for more than two years ago."

Dr Sassine added: "The Company is at a good juncture in its development and as the retiring CEO I welcome the appointment of Dr Dolphin who I believe is ideally placed to successfully build on the recent FDA clearance for the Funhaler(r). I've found my time as CEO challenging and rewarding. I look forward to continuing my involvement with the Company in a Non-executive capacity but it's important for me to now refocus my attention on my own private investment banking business."

Dr Dolphin's strengths are in strategic planning and product development, underpinned by a technical expertise in science and IP. His most recent experience is as CEO of SpectraNet ltd, a joint venture technology company in New Zealand, and various roles at SonaMed Corporation, a US-based medical device company, including President, CEO and Chairman of the Board.

(end)

About Visiomed

Visiomed develops and commercialises innovative medical devices. Apart from the Funhaler(r), Visiomed also has the exclusive world wide licenses for computer-based smart systems for the imaging and diagnosis of diseases other than dermatological conditions. The company is utilising its intellectual property to develop the microEYE(tm) imaging system as an aid in the screening and diagnosis of eye diseases such as cataract, glaucoma, trachoma, macular degeneration and diabetic retinopathy.

http://www.visiomed.com.au

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