October 1, 2009

Westbury Diagnostics, Inc announced that it has taken an equity position in Pillar Rock USA. Pillar Rock USA Corp is the manufacturer of ReVyte®, an effervescent tablet designed to re-stabilize the body of the vital nutrients lost as a consequence of an evening of overindulgence. “Wake up refreshed”. The product was formulated by a team of physicians and laboratory chemists who are experts in the field.

Westbury Diagnostics started a relationship with the company approximately 1 year ago, and has been providing R&D as well as business services. Dr. Lorrence Green, President of Westbury Diagnostics, and Mr. Alfred Dilimani, President of Pillar Rock, believe that this investment will help solidify the development of both Long Island companies. Both companies anticipate working together to develop many new products based on Pillar Rock’s proprietary technology.

Dr. Green also said that this investment is part of Westbury’s long term growth strategy of making equity investments in Long Island based Bioscience companies.

“There are many ways of growing a company. One of them is to identify a young company in which you think there will be future synergies and then making an equity investment. While this strategy offers smaller rewards than developing new products and new markets internally, it has a greater chance of success and is also less expensive.”

In 2004, Westbury made the first of several investments in Chembio Diagnostics, Inc. another Long Island based bioscience company, with patented technologies in the field of in vitro diagnostics.

For more information, please contact:

Westbury Diagnostics, Inc.
1 Belvedere Ave. Suite D
Farmingdale, NY
(631) 293-3626

Westbury Diagnostics, Inc. is a full service organization which works with clients to generate solutions to problems in the bioscience industry. We specialize in unique niche projects that require a broad range of abilities under a single roof. We help identify issues or conflicts in your project, formulate solutions and develop them in house. Our clients seek custom R&D work, due diligence, or FDA guidance in the bioscience and venture capital sectors.

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