Former Principal Deputy Assistant Secretary of Health for the U.S. Public Health Service Joins Recom.Business Editors/Health/Medical Writers LOS ANGELES--(BUSINESS WIRE)--Feb. 20, 2003 Holder of First U.S. and Foreign Patents on the Completely Implantable Artificial Heart Considers Recom's Technologies Groundbreaking Recom Managed Systems, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :RECM RECM Recommend RECM Real Estate Capital Management LLC (Santa Monica, CA) ) has announced that Lowell T. Harmison, Ph.D. will be joining the company as its Senior Advisor. Dr. Harmison developed the first completely implantable artificial heart patented in the U.S. and several foreign countries. Dr. Harmison was the former Principal Deputy Assistant Secretary of Health for the United States Public Health Service United States Public Health Service (USPHS), n.pr a major division of the Department of Health and Human Services. The USPHS provides oversight of the following agencies: the Centers for Disease Control and Prevention (CDC); Food and Drug Administration (PHS (Personal Handyphone System) A TDMA-based cellular phone system introduced in Japan in mid-1995. Operating in the 1880-1930 MHz band, PHS uses microcells that cover an area only 100 to 500 meters in diameter, resulting in lower equipment costs but requiring more base ), Department of Health and Human Services Noun 1. Department of Health and Human Services - the United States federal department that administers all federal programs dealing with health and welfare; created in 1979 Health and Human Services, HHS . The PHS included NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. , 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. , ADAMHA ADAMHA Alcohol, Drug Abuse and Mental Health Administration , CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation and HRSA HRSA Health Resources & Services Administration (US) HRSA Historical Radio Society of Australia HRSA Hamilton Rating Scale for Anxiety HRSA Hotel and Restaurant Suppliers Association (Canada) , with a budget of over $10 billion and 40,000 employees. Recently, Dr. Harmison was elected Dean of the prestigious International Academy of Artificial Organ Pioneers. Dr. Harmison brings to Recom a very distinguished career in the field of biomedicine. Over his career, which spans 35 years, Dr. Harmison has demonstrated proven leadership and innovation in his field both in the public and private sectors. As stated above, among his accomplishments: Dr. Harmison is the holder of the first domestic and foreign patents on the fully implantable artificial heart; has served as 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. of USET USET United States Equestrian Team , Inc., and director of a private foundation operating internationally and consisting of 21 operating companies with over $1.25 billion in assets; and was the Principal Deputy Assistant Secretary for Health of the U.S. Public Health Service, Department of Health and Human Services. Currently Dr. Harmison serves as Senior Advisor and board member to pharmaceutical and health companies, and foundations with a focus towards regulatory issues, clinical trials and products, as well as advises governments with respect to health and medical issues and policies. Recom will look to Dr. Harmison's experience and expertise to assist with product development, the augmentation of the company's Medical Advisory board, regulatory issues and other matters related to ongoing research and development. During his recent visit Dr. Harmison remarked that, "Perhaps Recom's technologies will some day reduce and delay the unfortunate impact of the realities of heart disease and the use of invasive mechanisms to solve heart problems. The key is early detection. There can be no earlier detection than long-term, continuous and accurate monitoring of the ECG ECG electrocardiogram. ECG abbr. 1. electrocardiogram 2. electrocardiograph ECG Also called an electrocardiogram, it records the electrical activity of the heart. . Recom has the technology potential to do exactly that." On Dr. Harmison's addition to the Recom team, Marvin H. Fink, Recom's Chief Executive Officer commented: "As we continue to advance on our goals related to product development, Dr. Harmison's expertise and input with regard to product and regulatory issues will be invaluable in connection with our ultimate intention to seek FDA and regulatory clearance of our first product, once completed." When commenting on his decision to join the company, Dr. Harmison had to say: "I have been in contact with Dr. Drakulic (the company's Chief Scientific Officer) for a number of years. Dr. Drakulic's earlier work with the United States Air Force United States Air Force (USAF) Major component of the U.S. military organization, with primary responsibility for air warfare, air defense, and military space research. It also provides air services in coordination with the other military branches. U.S. and at Teledyne's medical device business unit was groundbreaking. Recom's proprietary patented technologies have a good, solid answer to the hurdles inherent in ambulatory heart monitoring, and it is the combination of those technologies along with Dr. Drakulic's own developmental theories that made me want to contribute to the Company's efforts. I believe that these technologies could change the face of cardiac disease management, I believe they will save lives, and ultimately I believe they will significantly reduce the cost of cardiac disease in the United States." About Recom Managed Systems Recom Managed Systems, Inc., a Delaware corporation, is an emerging life sciences company. In September 2002, Recom completed a technology acquisition for purposes of attempting to develop and then commercialize heart monitoring devices. Notwithstanding this transaction, Recom intends for the foreseeable future to remain a development-stage company with negligible cash or other tangible assets, no currently outstanding debt and no immediate prospects of revenue. Recom will require substantial additional money to fund further development and continue with attempts to commercialize the technology into products and services. Recom cannot provide assurances that any of these endeavors will be successful. Caution Regarding Forward-Looking Statements Statements in this release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, which may cause Recom's actual results in the future to differ materially from expected results. Factors which could cause or contribute to such differences include, but are not limited to failure to complete the development and introduction of new products or services, failure to obtain federal or state regulatory approvals governing medical devices, monitoring and other related services or products, inability to obtain physician, patient or insurance acceptance of Recom's products or services, adverse equity market conditions and declines in the value of Recom's common stock, and the unavailability of financing to complete management's plans and objectives. These risks are qualified in their entirety by cautionary language and risk factors set forth and to be further described in Recom's filings with the Securities and Exchange Commission, including, but not limited to, the Form 8-K which was filed in September 2002. |
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