ChemTrak Chairman Resigns.SUNNYVALE, Calif.--(BUSINESS WIRE)--July 15, 1998--The board of directors of ChemTrak Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CMTR CMTR Certified Material Test Report CMTR Combined Marginal Tax Rate ) Wednesday announced it has accepted the resignation of Prithipal Singh Prithipal Singh is a former field hockey player from India. as chairman. Singh had resigned as chief technical officer earlier this year. Singh, co-founder of the company and a director since 1985, served as ChemTrak's president from 1988-93 and as chief technical officer from January 1997-March 1998. "We appreciate Dr. Singh's efforts in the company's development phase. As a co-founder of the company, he was instrumental in developing our technology and in growing the company," said Edward F. Covell. The board of directors also announced reducing the size of the board to four with the resignation of Malcolm Jozoff. Members of the board are now Edward F. Covell, Gordon Russell Gordon Russell (August 15,1929 – January 19,1981) was a television soap-opera writer. Born in Salem, Massachusetts, he wrote for The Nurses on ABC. He is known for his works on Dark Shadows beginning in 1967. , Robert P. Kiley and David Rubinfien. Covell is president and chief executive of ChemTrak, having joined the company in May 1996. He was previously a senior executive at MedChem Products Inc. and Tambrands Inc., Diagnostics Division. Russell, a director of ChemTrak since 1990, is a general partner of Sequoia Capital Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The firm's partners include Don Valentine, Pierre Lamond, Michael Moritz, Doug Leone, Mike Goguen, Mark Stevens, Jim Goetz, Sameer Gandhi, Roelof Botha, and Mark Kvamme. , a well-known venture capital firm. Kiley, a director since 1996, was previously a senior executive and director of Tambrands Inc. Rubinfien has been a director since 1988 and was previously president, chief executive and chairman of Systemix Inc. ChemTrak has a range of products for home use which are available at all major chain drug and mass merchant outlets. ChemTrak's most recent addition to its over-the-counter line is the Parent's Alert Home Drug Test Service, a counselor-supported home drug test service committed to helping parents prevent and eliminate drug abuse by their children. The CholesTrak Home Cholesterol Test Cholesterol Test Definition The cholesterol test is a quantitative analysis of the cholesterol levels in a sample of the patient's blood. Total serum cholesterol (TC) is the measurement routinely taken. , and the ColoCARE Home Test to detect the early warning signs of colorectal co·lo·rec·tal adj. Relating to the colon and the rectum, or to the entire large bowel. colorectal pertaining to or of the nature of the colon and the rectum. disease are both designed to help consumers take a more proactive role in their personal healthcare. Located in Sunnyvale, ChemTrak is a medical diagnostics company offering reliable and easy-to-use medical testing systems for in-home use and use in doctor's offices. ChemTrak medical tests are designed to screen and diagnose health conditions with accuracy comparable to laboratory tests. The statements in this release regarding products and revenues are forward looking and subject to risk and uncertainty, and future results could differ materially from past performance. For a detailed discussion of factors that may affect the company's operating results, interested parties should review the company's SEC reports, including the ChemTrak Inc. Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 1998, as well as the Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1997, filed with the SEC.
CONTACT: ChemTrak Inc.
Donald V. Fluken, 408/773-8156
or
Self & Associates
Trudy M. Self, 818/880-5437
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