TORONTO, Aug. 10, 2012 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) ("Biosign" or the "Company") announces the appointment of Mr. Robert Kaul as Chief Executive Officer effective immediately.
Mr. Kaul has over 23 years of experience in sales, marketing, operations and a successful track record leading early-stage technology companies. Since 2005, Mr. Kaul has assisted a number of Canadian companies to enter the US market, including Luna Technologies International Inc (where he served as Director of Operations) and ARA Safety Inc. (where he was COO). Mr. Kaul is the former CEO of Cloud Diagnostics LLC, a healthcare IT distribution company he founded in 2009. In June 2010, Biosign acquired the assets of Cloud Diagnostics, and from July 2010 to June 2011 Mr. Kaul served as Executive Vice President of Biosign, where he focused on international sales & business development. He then served in a consulting capacity for the Company, and in July 2012, Mr. Kaul joined the Company's Board of Directors.
In connection with the retainer of Mr. Kaul, the Company also announced the grant of an aggregate of 2,000,000 stock options to him pursuant to the Company's stock option plan. These options expire in 5 years and have an exercise price of $0.10 per share, being a premium to the current market price, and are subject to vesting as follows: 500,000 options shall vest immediately, 500,000 options vest on the first year anniversary of the date of grant, 500,000 options shall vest on the second year anniversary of the date of grant, and 500,000 options shall vest upon the attainment of specified sales-related milestones.
Biosign's Chairman Mr. John Rizvi stated "The board is very pleased to welcome Robert Kaul back to the Company as Chief Executive Officer. During his tenure as EVP, Robert was successful at negotiating and managing distribution relationships with our partners in Germany, the Middle East and Canada. We anticipate that his many years of experience in the U.S. market as well as his track record as an entrepreneur will result in a strong new direction for our Company."
Dr Scott Jenkins, Biosign's former CEO, will also step down from the board of directors to pursue other opportunities; however he will remain an advisor to Biosign in a consulting capacity. The Company would like to thank Dr Jenkins for his prior service. Following the departure of Dr Jenkins the Board of Directors of the Company Board will consist of Mr. John Rizvi (Chairman), Mr. Zoheb Rizvi, Mr. Jason Meretsky, Senator Alfonse D'Amato and Mr. Robert Kaul.
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides automated, computer enabled biomedical systems and devices. Key applications include the noninvasive monitoring of vital signs including blood pressure, pulse rate and breathing rate, enhanced with web services. The Company's UFIT® medical device technology powers quality data collection for clinical decision support, self-care, wellness and disease management, while it's Healthanywhere™ Suite offers industry-leading remote patient monitoring solutions. For more information on Biosign, please visit www.biosign.com.
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and Biosign's actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in, Biosign's filings with Canadian securities regulators (www.sedar.com).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Biosign Technologies Inc.
Robert Kaul, CEO
Biosign Technologies Inc.
Phone: (416) 218-9800 ext. 234