MONTREAL, QUEBEC--(MARKET WIRE)--Feb 9, 2009 -- Adaltis Inc. (Toronto:ADS.TO - News) today announced that its board of directors has elected Mr. Peter Bambic to succeed Mr. Pierre Larochelle as President and Chief Executive Officer of Adaltis Inc. Mr. Bambic was also elected to the Company’s Board of Directors, effective immediately. Mr. Larochelle will remain on the Board of Directors of Adaltis and will ensure a smooth executive leadership transition, working with Mr. Bambic in his new role.
“The election of Peter Bambic as the new President and CEO of Adaltis Inc. comes at a very exciting time in the history of the Company, as we are heading into an accelerated period of growth with the launch of Eclectica and the growing prospects opening up in China” said Michelle Cormier, Chairman of the Board of Directors. “Under Pierre’s leadership over the last five years, Adaltis has entirely repositioned its strategic direction, establishing a strong organization and position in the China market, and investing in the development of new products and technologies, that will be ideally suited for the growing needs in emerging countries, such as China and India. Adaltis is very well-positioned, both structurally and with its product offering, to become an important player in the IVD markets in major emerging countries. The board of directors is grateful and thanks Pierre for the major contribution and leadership he has brought over the last few years at Adaltis” said Ms. Cormier.
“Peter’s extensive experience over the last 25 years in the in-vitro diagnostic markets, and proven track-record to successfully grow businesses in emerging markets, including in the China market, constitutes an ideal addition for our Company, entering this crucial new phase in its history”, added Ms. Cormier.
“I am very excited about the opportunities ahead at Adaltis. The Company has a very compelling and unique product offering and solutions that will meet the growing needs that we are observing in developing markets around the world. With the increasing investments being made in the healthcare and diagnostic markets in key countries, it will be fundamental for us to leverage our position in China and we intend to seize an important share of those growing markets with our flagship product, Eclectica. I appreciate the opportunity to join and lead Adaltis at this exciting juncture in the Company’s development”, said Mr. Bambic.
About Peter Bambic
Most recently Mr. Bambic was a member of Ortho Clinical Diagnostics, Inc. a Johnson and Johnson Company where he was National Account Director, US Distributor Sales. Previously as Managing Director he led OCD Asia-Pacific (excluding Japan) where he had functional responsibility for sales and marketing, finance, logistics and customer support. During his tenure as Managing Director he led OCD into the China market and delivered double-digit year-on-year sales growth in China and other emerging Asian markets. Prior to joining OCD he held positions of increasing responsibility in sales and marketing with DuPont Diagnostics. His educational background includes a Ph.D. in Business Administration from Penn State University. In the near future, Peter and his family will be relocating to the Adaltis Shanghai facility.
About Adaltis
Adaltis is an international in vitro diagnostic company with a mission to become a leading provider of in vitro diagnostic products in emerging markets, with a particular focus on China.
With the strategic advantage of its “state of the art” reagent manufacturing facility located in Shanghai, China, a complete IVD product offering targeting emerging markets, and a strong international sales and distribution platform, Adaltis is able to manufacture high-quality products in a low-cost GMP environment, in order to service existing markets in Europe, while providing a platform to penetrate the high-growth Chinese in vitro diagnostic market.
Adaltis is headquartered in Montreal, with offices in China, India, Italy and Mexico.
Caution Concerning Forward-Looking Statements
Although not an exhaustive list, we caution you that certain statements made in this press release are likely to be considered forward-looking statements, including in particular those related to the Company’s plan.
Adaltis cautions that, by their nature, forward-looking statements involve risk and uncertainty and Adaltis’ actual actions or results could differ materially from those expressed or implied in such forward-looking statements.
The forward-looking statements contained in this press release represent the expectations of Adaltis and its subsidiaries as at the date hereof and accordingly are subject to change after such date. However, Adaltis and its subsidiaries expressly disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
For additional information with respect to the risks and uncertainties and other factors that could cause the results or events predicted in these forward-looking statements to differ materially from actual results or events, please refer to the Annual Information Form of Adaltis filed with the Canadian securities commissions.
Contact:
Contacts: Adaltis Inc. Mrs. Michelle Cormier Chairman of the Board 514-335-9922, ext. 241
Source: Adaltis Inc.
