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Article: ESC Medical Systems Board of Directors Approves Comprehensive Restructuring Plan; Management Estimates Over $40 Million Reduction in Total Expenses.
- Article from:
- Business Wire
- Article date:
- September 21, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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YOKNEAM, Israel--(BUSINESS WIRE)--Sept. 21, 1999--
ESC Medical Systems Ltd. (Nasdaq: ESCM) today announced that its Board of Directors has approved a comprehensive restructuring program designed to align the Company's cost structure with its revenue capabilities, while capitalizing on the market potential of its innovative laser products, including products in various development and regulatory stages.
The restructuring plan was developed by the Company's senior management team, together with the consulting firm of McKinsey & Company, and presented to the Board of Directors. The majority of the plan should be implemented by the close of the first quarter ...