HOUSTON, Aug. 24, 2005 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ) today announced the appointment of Philip Drachman as the firm's consultant and lead advisor with respect to its mergers and acquisitions (M&A) initiative in Israel. Mr. Drachman possesses over 15 years of experience as a strategic consultant in the pharmaceutical and medical technology sectors in Israel, the U.K., North America, South Africa and the Far East. He will be responsible for providing Coastal Holdings with expert investment and strategic advice on cutting edge pharmaceutical and biotechnology companies in Israel. Upon successful closure of the company's acquisitions currently under negotiation in Israel, Mr. Drachman's role will be expanded to advise on future M&A transactions related to the biotechnology and health care sectors in other markets, such as the U.K.
Philip Drachman has managed research and development projects, clinical trials and regulatory affairs, strategic marketing and business developments for several companies in the medical and health care sectors including, Exxon Mobil, Amazon Biotech Inc., BIOMEDICOM, and Navitek Ltd. He holds a Master of Science degree in organic chemistry (Queen's, Canada), and a Bachelor of Science honors degree in chemistry and biology (Wales, U.K.).
CEO Andrea Cortellazzi said of Mr. Drachman's appointment, "I am proud to announce that Mr. Drachman will be heading up our mergers and acquisitions initiative in Israel. He brings a wealth of experience as a global strategic consultant in the biotechnology and health care sectors. With his expert advice, Coastal Holdings is well-positioned to execute profitable acquisitions of leading edge technology companies in Israel and other countries."
For more information please contact CEO Andrea Cortellazzi at (514) 288-9699 or visit the company Web site at www.coastalholdings.com.
Forward-Looking Statements
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