Prime Medical adds board members and names new president/CEO.AUSTIN, Texas--(BUSINESS WIRE)--April 30, 1996--Prime Medical Services, Inc. (Nasdaq/NM:PMSI PMSI Purchase-Money Security Interest (generally a lien resulting from a purchase such as a car loan) PMSI Physician Micro Systems, Inc. PMSI Programme de Médicalisation des Systèmes d'Information Hospitaliers PMSI Popular Mortgage Servicing, Inc. ) announced organizational changes, as a result of its May 1, 1996 $88 million recent acquisition of Lithotripters, Inc. Ken Shifrin, chairman of Prime Medical, stated, "I am pleased to announce that Dr. Joseph Jenkins Joseph Jenkins (1818-1898) was an educated tenant farmer from Tregaron, Ceredigion, mid-Wales who, when aged over 50, suddenly deserted his home and large family to seek his fortune in Australia. has been elected the president and chief executive officer of Prime Medical, replacing Jackie Majors, who has recently retired. "Dr. Jenkins has been the president of Lithotripters, Inc. since 1992. In addition, Dr. Jenkins and Dr. Bill Jordan have joined our board of directors. Dr. Jordan was the chairman and chief executive officer of Lithotripters, Inc. "Late last week, we announced the acquisition of Lithotripters, Inc. Their management team included five Urologists, who are among the world's leading experts in lithotripsy Lithotripsy Definition Lithotripsy is the use of high-energy shock waves to fragment and disintegrate kidney stones. The shock wave, created by using a high-voltage spark or an electromagnetic impulse, is focused on the stone. . Dr. Jordan founded Lithotripters, Inc. in 1987 and has built it into the market leader in this industry. "Dr. Jenkins has been with Lithotripters, Inc. since 1990. Both of these individuals bring a great deal of expertise to Prime Medical. We are excited about the promising opportunities that this acquisition provides and look forward to their individual contributions." Prime Medical's new chief executive officer is a distinguished physician who received undergraduate, medical, and law degrees from the University of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. . He was among the earliest physicians trained in lithotripsy, completing his training in 1985 at Klinikum Grosshaden in Munich, Germany. Dr. Jenkins is the immediate past president of the American Lithotripsy Society. He is also past president of the North Carolina Urological Association. Dr. William Jordan received his undergraduate and medical degrees from the University of North Carolina. He has served on the executive committee of the American Lithotripsy Society and currently serves as vice chairman of the board of trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of the University of North Carolina. In addition, Dr. Jordan is the chief executive officer of Global Lithotripsy, Inc., a company recently formed to provide lithotripsy services primarily in Asia. Lithotripsy is a cost effective, non-invasive method for treating kidney stones Kidney Stones Definition Kidney stones are solid accumulations of material that form in the tubal system of the kidney. Kidney stones cause problems when they block the flow of urine through or out of the kidney. through the use of extracorporeal extracorporeal /ex·tra·cor·po·re·al/ (-kor-por´e-al) situated or occurring outside the body. ex·tra·cor·po·re·al adj. Situated or occurring outside the body. shock waves, which pulverize pul·ver·ize v. pul·ver·ized, pul·ver·iz·ing, pul·ver·iz·es v.tr. 1. To pound, crush, or grind to a powder or dust. 2. To demolish. v.intr. kidney stones and permit them to pass painlessly from the body. With this acquisition, Prime Medical is the largest operator of lithotripters in the United States, currently servicing approximately 32,000 patients annually, through contracts with approximately 400 hospitals and 225 managed care companies. Prime Medical operates a fleet of 54 lithotripters in 31 states and a revenue base of approximately $90 million. CONTACT: Prime Medical Services Inc. Kenneth S. Shifrin, chairman of the board, 512/328-0888 or Dr. Joseph Jenkins, president, 800/682-7971 |
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