Hi-Tech Pharmacal Announces Addition of New Board Member.Business/Health Editors AMITYVILLE, N.Y.--(BUSINESS WIRE)--May 15, 2002 Hi-Tech Pharmacal, Co., Inc. (Nasdaq:HITK) announced today that Robert M. Holster has joined its Board of Directors. Mr. Holster, age 55, is President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Health Management Systems, Inc. (Nasdaq:HMSY HMSY Health Management Systems, Inc (stock symbol) ), a company providing information based revenue enhancement revenue enhancement An increase in revenues, especially by way of increased taxes. Revenue enhancement includes reducing taxpayer deductions and eliminating tax credits. services to healthcare providers and payors. Earlier in his career, Mr. Holster was President and Chief Executive Officer of HHL HHL Handelshochschule Leipzig (Leipzig Graduate School of Management) HHL Hypophysenhinterlappen HHL Highway Hockey League HHL Herefordshire Housing Ltd (UK) HHL Hand-Held LIDAR HHL Hobby Hockey League Financial Services Inc., at the time one of the nation's largest healthcare accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying management companies. Previously, Mr. Holster served in a number of executive positions including Chief Financial Officer of Macmillan, Inc. and Controller of Pfizer Laboratories, a division of Pfizer, Inc. "We are honored to have Bob Holster as our Board member," stated David Seltzer, President and 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 Hi-Tech. "He brings to our company more than twenty years of senior management experience in the financial and healthcare environments. We highly value his strong financial background combined with his broad based expertise that encompasses both the pharmaceutical and provider financial management aspects of the healthcare industry. We are confident that Mr. Holster's expertise and proven leadership will benefit Hi-Tech, as we position the company for significant near term growth." Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing branded and generic prescription and OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). products for the general healthcare industry. The Company specializes in difficult to manufacture liquid and semi-solid dosage forms and produces a range of sterile ophthalmic, otic and inhalation products. The company's Health Care Products Division is a leading developer and marketer of branded prescription and OTC products for the diabetes marketplace. Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion