Inventor of Artificial Heart and Former Principal Deputy Assistant Secretary of Health for the U.S. Public Health Service Joins Recom's Board of Directors.
LOS ANGELES--(BUSINESS WIRE)--June 16, 2003
Recom Managed Systems, Inc. (OTCBB:RECM) has announced that Lowell T. Harmison, Ph.D., who is serving as a Senior Advisor to the company, will be joining the company's Board of Directors.
When commenting on his decision to accept the nomination to join Recom's board of directors, Dr. Harmison said: "In my role as Senior Advisor to Recom, I have learned the details about the company's technologies and their capabilities. In my view, these capabilities and the opportunities for advances in the current state of the art with regard to ambulatory cardiac monitoring are so enormous that I was interested in accepting an opportunity to join the company in a position that will allow me greater influence in the development of this technology. The capabilities of the technology range far beyond the ECG signal and include predicate analyses of cardiovascular evaluation (and even expansion beyond that) which make me excited to begin my term on the Board."
Marvin Fink, the company's CEO and Chairman of the Board added: "In working with Dr. Harmison over the last few months it has become evident that his insight and working knowledge in the field of medical device development will add considerable value to Recom and its shareholders. The addition to our board of an individual such as Dr. Harmison not only allows for greater depth in our knowledge base but also greatly augments our strategic planning and marketing capacities. I look forward to continuing my work with Lowell in commercializing our first device and crafting the future of Recom."
Dr. Harmison further commented: "I believe the medical community and public will be surprised as the productization of these technologies begins to occur. I am happy to be involved in the supervision of that process and I would like to thank the Board of Directors for this opportunity and my nomination. Finally, I would like to thank Mr. Marvin Fink -- Recom's CEO -- for the faith he has shown in my strategies and ideas and in his vote of confidence with this Board appointment."
About Dr. Lowell T. Harmison
Dr. Harmison's commitment to biomedical research and public health extends back over thirty-five years, a career that began at the National Institutes of Health in Bethesda, Maryland, in 1966. Throughout his career he has made significant contributions to the field of biomedical research in both the public and private sectors including: leading the first HIV/AIDS blood test for the U.S. Public Health Service that yielded the first FDA-approved blood test for use by the American Red Cross; inventing the first fully implantable artificial heart; serving as the CEO of USET; acting as director of a private foundation operating internationally and consisting of 21 operating companies with over $1.25 billion in assets; and serving as the Principal Deputy Assistant Secretary for Health of the U.S. Public Health Service, Department of Health and Human Services under President Reagan which included the NIH, FDA, ADAMHA, CDC and HRSA, with a budget of over $10 billion and 40,000 employees.
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. Recently, Dr. Harmison was elected Dean of the prestigious International Academy of Artificial Organ Pioneers.
About Recom Managed Systems, Inc.
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.
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|Date:||Jun 16, 2003|
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