MedSurge Advances Provides Update on Strategic Progress.Day to Reassume Re`as`sume´ v. t. 1. To assume again or anew; to resume. Chief Executive Duties Company Signs Exclusive, Long-Term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. Agreements with Suppliers DALLAS -- Scott Day, chairman and president of MedSurge Advances, the nation's largest independent provider of aesthetic medicine products and services to physicians, today announced that the company has restructured its management team to position itself for its next phase of growth. As part of this restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). , Paul Herchman, the company's 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. , will step down and Day will assume his duties. "Paul came to MedSurge Advances in 2003 to help transform our company from a bootstrap See boot. (operating system, compiler) bootstrap - To load and initialise the operating system on a computer. Normally abbreviated to "boot". From the curious expression "to pull oneself up by one's bootstraps", one of the legendary feats of Baron von Munchhausen. , entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. startup to a professionally managed corporation. With Paul's leadership, we have accomplished this goal," Day said. "Paul - his mission accomplished - has now decided to move on to pursue other interests, as the two of us have expected for some time," Day continued. "We wish Paul all the best, and thank him for all his contributions over the past three years. I will reassume the chief executive's duties to lead our excellent management team." Said Herchman: "I am very gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by the growth and maturation maturation /mat·u·ra·tion/ (mach-u-ra´shun) 1. the process of becoming mature. 2. attainment of emotional and intellectual maturity. 3. of MedSurge Advances during my tenure. Over the past several months, we have restructured the company's management team, adding experienced managers and creating a more disciplined organization. MedSurge has evolved from a small company with a dream to an influential industry player with the tools and resources to make its vision reality. While it is with regret that I move on, I believe the time is right." Day noted that in the past several months, MedSurge Advances has: * built a professional management team of the first order; * renewed long-term contracts with key suppliers; * secured significant equity investments from established players in the industry; * put in place the operational and financial controls necessary to ready the company for the public capital markets. "We recently have renewed all of our key vendor contracts - most of them on an exclusive basis, with terms ranging from three to five years. One of these suppliers, the Quantel Group, a French-based public company, has decided to make a significant equity investment," Day said. "In addition to renewing our long-term relationships with Quantel, Asclepion, and others, we have also entered an exciting new partnership with Storz Medical, the Swiss medical supplier, to introduce Acoustic acoustic /acous·tic/ (ah-kldbomacs´tik) relating to sound or hearing. a·cous·tic or a·cous·ti·cal adj. Of or relating to sound, the sense of hearing, or the perception of sound. Wave Therapy (AWT (Abstract Windowing Toolkit) A class library from Sun that provides an application framework and graphical user interface (GUI) routines for Java programmers. AWT was the first user interface development system included in the Java Foundation Classes (JFC). ) in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . AWT, a new treatment for smoothing dimpled skin, has already attracted television coverage in more than 30 U.S. television markets, and early patient demand is high." Day added, "Without giving away any secrets, I will say that AWT is only the beginning. We have established a reputation among international medical suppliers as the premier partner for marketing aesthetic treatments in the United States. This reputation has earned us an opportunity to explore many innovative new treatments - several of which will be introduced in the coming months." Day concluded, "Today, more than 330 doctors in 42 states are offering aesthetic procedures through MedSurge Advances, making us the largest independent provider of aesthetic medicine products and services to physicians in the United States. I am grateful for our physicians' continued trust in us, and for the hard work and dedication of the entire MedSurge team. I can state without hesitation that we have only begun to reap the rewards of our efforts." About MedSurge Advances Based in Dallas, MedSurge Advances helps physicians across the United States build and manage their practices in aesthetic medicine, one of the fastest-growing healthcare segments. Since its founding in 2002, MedSurge Advances has provided technology and business resources for hundreds of physicians who have started stand-alone businesses or added aesthetic procedures to their existing practices. For more information, contact MedSurge Advances at 972.720.0425, or visit www.medsurgeadvances.com. |
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