Adeza Appoints Michael P. Downey to Board of Directors.SUNNYVALE, Calif. -- Adeza (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADZA) today announced the appointment of Michael P. Downey as an independent director of the company, increasing the number of directors to six, with a five-member independent majority. Mr. Downey will chair the company's audit committee and serve as a member of the compensation committee. "We will look to Michael's significant financial and industry expertise as we implement our strategy to increase usage of our Fetal Fibronectin Fetal fibronectin (fFN) is a protein produced by fetal cells and a type of fibronectin. fFN is found at the interface of the chorion and the decidua (between the fetal sack and the uterine lining). Test for those women at risk for preterm preterm /pre·term/ (-term´) before completion of the full term; said of pregnancy or of an infant. pre·term adj. birth," said Emory V. Anderson, Adeza's president and chief executive officer. "Among his many successes, Michael was an integral part of the senior executive team at Nellcor Puritan Bennett Puritan Bennett has been a provider of respiratory products since 1913 originally as a medical gas supplier. In addition to critical care ventilation, Puritan Bennett provided medical devices for patients outside of the acute care environment. responsible for developing and implementing that company's successful growth strategy. We look forward to calling upon his extensive financial capabilities and corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. experience as he assumes the important position as audit committee chairman. We are fortunate to have such a strong addition to our board." Mr. Downey has more than 25 years of business experience primarily in senior finance positions. From 1986 though 1997, he served in various executive positions at leading medical instrument manufacturer Nellcor Puritan Bennett and one of its predecessors, most recently as executive vice president and chief financial officer. From 1984 to 1986, he held several executive positions at computer disk drive manufacturer Shugart Corporation, including vice president of finance. Prior to that, he held several financial management positions with General Motors Corporation. Mr. Downey currently serves on the board of directors of Vertical Communications Vertical Communications, Inc. NASDAQ: VRCC is a corporation that specializes in software-based PBXes (eg business telephone systems). Vertical Communications changed its name on 1 January, 2005 from Artisoft, Inc. after acquiring Vertical Networks in September 2004. , Inc. (formerly Artisoft, Inc.), a developer of software-based phone systems; Emulex Corporation, a designer and manufacturer of software- and hardware-based network access products; and First Consulting Group, Inc., a provider of consulting and management services to the healthcare and pharmaceutical industries. He previously served as a board member of ReSound Corporation, a designer and developer of hearing devices, prior to that company's acquisition in 1999. Mr. Downey received a BS in business from San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. State University and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the University of Santa Clara. Adeza designs, manufactures and markets innovative products for women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. . Adeza's initial focus is on reproductive healthcare, using its proprietary technologies to predict preterm birth and assess infertility. Adeza's principal product is a patented diagnostic test, the Fetal Fibronectin Test, which utilizes a single-use, disposable cassette and is analyzed on Adeza's patented TLiIQ(R) System. This product is approved by the U.S. Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) for broad use in assessing the risk of preterm birth. Adeza also markets and sells the E-tegrity(R) Test, an infertility-related test to assess receptivity of the uterus to embryo implantation in women with unexplained infertility. Adeza cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Adeza that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Adeza's business including, without limitation, statements about the expansion of the indications for its products. All forward-looking statements are qualified in their entirety by this cautionary statement and Adeza undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. |
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