MISSISSAUGA, ONTARIO--(Marketwire -02/02/12)- The Board of Directors of CML HealthCare Inc. ("CML") (TSX: CLC.TO - News) today announced that Thomas G. Wellner will join the company as Chief Executive Officer, effective February 6, 2012. Tom brings to CML a broad range of leadership experience gained from 20 years with Eli Lilly & Co. in senior roles in Canada, China, United States, Latin America and the United Kingdom. From 2004 to 2007, he was President and General Manager of Lilly Deutschland GmbH, which, during his tenure, had approximately 1200 employees and sales of some $800 million. More recently, Tom has been engaged in a number of early stage biopharmaceutical companies in Toronto, including as President and CEO of Therapure Biopharma, Mississauga, from 2008 to 2011. He is a graduate of Queen's University (B.Sc. Hons. Life Sciences).
"We are very pleased to welcome Tom Wellner to CML. During the course of his career, Tom has had exposure to numerous healthcare and payor systems as well as to the critical interface of diagnostics, physicians, patients and treatment regimens. We view his marketing expertise, business development and industry knowledge as highly complementary to CML's community laboratory and diagnostic imaging services. We look forward to Tom's leadership, working with the Board and the senior management team, in building a robust future grounded in our historic strengths of quality, efficiency and profitability while capitalizing on opportunities for innovation in the dynamic healthcare and health science environment," said Patrice Merrin, Chairman of the Board.
The Directors expressed their appreciation to Ms. Merrin for the accomplishments achieved during her tenure as Interim CEO which role she ceased as of February 2, 2012.
About CML HealthCare Inc.
CML HealthCare Inc. is a leading provider of laboratory testing services in Ontario, operating 115 laboratory collection centres, and is the largest provider of medical imaging services in Canada with 103 imaging centres. CML, publicly-traded on the Toronto Stock Exchange under the symbol "CLC", has approximately 89.8 million common shares outstanding. For more information, please visit www.cmlhealthcare.com.
Caution concerning forward-looking statements
This document includes forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Securities Act (Ontario) and other provincial securities law in Canada. These forward-looking statements include, among others, statements with respect to our objectives, goals and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective" and "continue" (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. We caution readers not to place undue reliance on these statements, as a number of important factors, many of which are beyond our control, could cause our actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to: dependence on government-based revenues in Canada; general economic conditions; pending and proposed legislative or regulatory developments in Canada including the impact of changes in laws, regulations and the enforcement thereof; reliance on funding models in Canada; intensifying competition resulting from established competitors and new entrants in the businesses in which we operate; our ability to complete strategic acquisitions and to integrate our acquisitions successfully; insurance coverage of sufficient scope to satisfy any liability claims; operational and infrastructure risks including possible equipment failure and performance of information technology systems; fluctuations in total patient referrals; technological change and obsolescence; loss of services of key senior management personnel; privacy laws; ability to pay dividends in the future; structural subordination of common shares; leverage and restrictive covenants; fluctuations in cash timing and amount of capital expenditures; tax-related risks; unpredictability and volatility of the price of common shares; dilution; and future sales of common shares.
We caution that the foregoing list of important factors that may affect future results is not exhaustive. When reviewing our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Additional information about factors that may cause actual results to differ materially from expectations, and about material factors or assumptions applied in making forward-looking statements, may be found in the "Risk Factors" section of our Annual Information Form, under "Business Risks" and elsewhere in our Management's Discussion and Analysis of Operating Results and Financial Position ("MD&A") for the year ended December 31, 2010 and elsewhere in our filings with Canadian securities regulators. Except as required by Canadian securities law, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf. Such statements speak only as of the date made.
CML HealthCare Inc.
Director, Corporate Communications
(905) 565-0043 ext.3472
CML HealthCare Inc.
Chairman of the Board
(905) 565-2844 (FAX)