RIVER EDGE, N.J., July 24, 2012 /PRNewswire-FirstCall/ -- Nephros, Inc. (OTC Bulletin Board: NEPH), a global medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification, announced today the expansion of its U.S. Sales Team to add:
- Frank Zumbo, Regional Sales Manager Southeast
- Stephen Bob, Regional Sales Manager Midwest
- Denise Pappas, Regional Sales Manager Northeast
Frank Zumbo brings over 20 years of direct selling experience in the hospital and dialysis arena having held positions at large pharmaceutical and biotech companies. Stephen Bob has extensive experience in sales and sales management within the area of infection prevention and contamination control in the hospital setting. Denise Pappas has significant business development and sales experience selling pharmaceutical and biotech products into hospitals in the Northeast region. The expanded team will focus its efforts on selling Nephros Ultrafilters to hospitals and dialysis clinics across the U.S.
"We could not be happier with this carefully selected team of capable professionals to expand our sales and business development activities. Each of them possesses an entrepreneurial spirit, commitment to excellence and belief in the health economic benefits of our technology," said Shane Sullivan, Director of U.S. Sales.
About Nephros, Inc.
Nephros, Inc., headquartered in River Edge, New Jersey, is a global medical device company that focuses on the development and commercialization of liquid purification filters that combine a best in class purification to flow rate ratio with filter endurance. Today, Nephros Ultrafilters remove biological contaminants from water and bicarbonate to provide ultrapure water and bicarbonate for use in hemodialysis. Nephros Ultrafilters also purify water in the hospital/healthcare setting particularly at the point of use (i.e. at the end of the faucet or shower head). This approach has been shown to be particularly useful for infection control. Nephros is currently developing its filter technology in individual water purifiers for military applications. The company has also developed an alternative to current hemodialysis therapy known as Mid-dilution hemodiafiltration (MD-HDF). Nephros' unique and proprietary blood purification technologies enable MD-HDF to be offered to chronic renal failure patients.
For more information about Nephros, please visit the company's website at www.nephros.com.
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements include statements regarding the efficacy and intended use of our technologies under development, the timelines for bringing such products to market and the availability of funding sources for continued development of such products and other statements that are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. For such statements, we claim the protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future performance are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond our control. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that:
- we may not be able to continue as a going concern;
- we may not be able to obtain funding if and when needed or on terms favorable to us in order to continue operations;
- we may not obtain appropriate or necessary regulatory approvals to achieve our business plan;
- products that appeared promising to us in research or clinical trials may not demonstrate anticipated efficacy, safety or cost savings in subsequent pre-clinical or clinical trials;
- we may encounter problems with our suppliers and manufacturers;
- we may encounter unanticipated internal control deficiencies or weaknesses or ineffective disclosure controls and procedures;
- HDF therapy may not be accepted in the United States and/or our technology and products may not be accepted in current or future target markets, which could lead to failure to achieve market penetration of our products;
- we may not be able to effectively market products, including our HDF system
- we may not be able to sell our chronic renal failure therapy or water filtration products at competitive prices or profitably;
- we may not be able to secure or enforce adequate legal protection, including patent protection, for our products; and
- we may not be able to achieve sales growth in key geographic markets.
More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements, including the forward-looking statements in this press release, is set forth in our filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, and our other periodic reports filed with the SEC. We urge investors and security holders to read those documents free of charge at the SEC's web site at www.sec.gov. We do not undertake to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise, except as required by law.
SOURCE Nephros, Inc.