Allied Healthcare International Inc. Appoints David Moffatt as New Chief Financial Officer.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Allied Healthcare International Inc. (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 : AHCI AHCI Advanced Host Controller Interface AHCI Art and Humanities Index ; AIM: AHI) has appointed David Moffatt as the Company's new Chief Financial Officer, succeeding the interim CFO See Chief Financial Officer. , Paul D. J. Weston. Mr. Weston will assume the newly created position of Deputy Chief Financial Officer and will retain the responsibility for Allied's UK financial operations. Mr. Moffatt, an entrepreneurial, commercial and results-oriented executive with significant senior management experience in a variety of sectors, including manufacturing, distribution, logistics, recruitment, and online and off-line media, will be responsible for Allied's day-to-day and long-term strategic financial operations. He brings to the Company more than 20 years of experience managing pan-European teams, directing or overseeing mergers and acquisitions, due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and integration, fundraising, investor relations Investor relations The process by which the corporation communicates with its investors. , change management, and compliance with IFRS IFRS International Financial Reporting Standard(s) IFRS Inter Frame Relay Service IFRS Indiana Facilities Registry System , US GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). and Sarbanes-Oxley. Timothy M. Aitken, Allied Healthcare Chief Executive Officer and Chairman commented: "I welcome David Moffatt's appointment as it is both appropriate at this time and strategically forward looking. With his experience he significantly augments the capabilities of the management team." Most recently, for the last six years, Mr. Moffatt has served as Deputy European Chief Financial Officer for Monster Worldwide, Inc. (NASDAQ: MNST MNST Maximum Network System Throughput ), the parent company of Monster(R), a leading global online recruitment services provider. Previously, he held management positions at a variety of other multinational companies, including Interim Operations Director of Patientline Ltd., a hospital bedside telephone, television and video company; Interim CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and CFO of GB Express Ltd., a European fast freight group; and Finance Director of various divisions of Hanson PLC, an industrial conglomerate. Mr. Moffatt earned his B.A. with honors in Economics, and is a Fellow of the Association of Chartered Certified Accountants The Association of Chartered Certified Accountants (ACCA) is a British chartered accountancy body with a global presence that offers the Chartered Certified Accountant (Designatory letters ACCA or FCCA) qualification worldwide. . About Allied Healthcare International Inc. Allied Healthcare International Inc. is a leading provider of flexible healthcare staffing services in the United Kingdom. Allied operates a community-based network of approximately 100 branches with the capacity to provide carers (known as home health aides in the U.S.), nurses, and specialized medical personnel to locations covering approximately 90% of the U.K. population. Allied meets the needs of Private Patients, Community Care, Nursing Homes and Hospitals. The company also supplies medical-grade oxygen for use in respiratory therapy to the U.K. pharmacy market and Northern Ireland, and oxygen concentrators to customers in Northern Ireland. Following the award of the new oxygen contracts, the Company also now provides unified oxygen services directly to customers in the South East of England The East of England is one of the nine official regions of England. It was created in 1994 and was adopted for statistics from 1999. It includes the ceremonial counties of Essex, Hertfordshire, Bedfordshire, Cambridgeshire, Norfolk and Suffolk. . For more information, visit www.alliedhealthcare.com. Forward-Looking Statements Certain statements contained in this news release may be forward-looking statements. These forward-looking statements are based on current expectations and projections about future events. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements include: Allied's ability to continue to recruit and retain qualified flexible healthcare staff; ability to enter into contracts with hospitals and other healthcare facility customers on terms attractive to Allied; the general level of patient occupancy at hospital and healthcare facilities of Allied's customers; the ability to successfully implement acquisition and integration strategies; dependence on the proper functioning of Allied's information systems; the effect of existing or future government regulation of the healthcare industry, and ability to comply with these regulations; the impact of medical malpractice and other claims asserted against Allied; the effect of regulatory change that may apply to Allied and that may increase costs and reduce revenue and profitability; the ability to use net operating loss carry forwards to offset net income; and the impairment of goodwill, of which Allied has a substantial amount on the balance sheet, may have the effect of decreasing earnings or increasing losses. Other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release include those described in Allied's most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on form 10-Q and any current reports on Form 8-K filed since the date of the last Form 10-K. Allied undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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