NEW PALTZ, N.Y., April 19 /PRNewswire-FirstCall/ -- American Scientific Resources (PNK: ASFX) announced today that it has appointed, effective immediately, Walter Lambert as its Chairman of the Board and Chief Executive Officer.
Mr. Lambert, 56, brings more than 30 years of business, finance and managerial experience to American Scientific. He will oversee all operational aspects and strategic initiatives of the Company, including the 2005 launch of its flagship Heart Smart System product line as well as the expansion of its leading Kidz-Med brand. Mr. Lambert replaces Peter Lordi.
“I am extremely excited to be named Chairman and Chief Executive Officer of American Scientific Resources,” said Lambert. “The company’s three main operating divisions provide strong long-term growth opportunities and I am pleased to assume this leadership role at such a pivotal time in the company’s history.
“I firmly believe in the strength of American Scientific’s business model and particularly look forward to the successful launch of Heart Smart in 2005. We believe our patented CoQ10 supplement will have a positive impact on the leading cause of premature and avoidable deaths as a result of coronary heart disease. We also expect to roll out additional innovative products for our Kidz-Med division throughout 2005.”
Lambert concluded, “My plan is to create a staff which is both energetic and creative as we significantly enhance our market share in the development and distribution of leading medical and healthcare products and services. I am confident my strong business background and in-depth understanding of American Scientific’s operations will lead to increased brand equity and long-term success for our shareholders.”
Since 1990, Lambert has served as President of Northeast Industrial Development Corp. and Northeast Development & Management, Corp., commercial real estate development firms based in Newburgh, New York. In addition, Mr. Lambert is a managing member for Front Street on the Hudson, LLC; Cerone Place, Human Services Building, LLC; Grand Activities Center, LLC; and Grand Street Development, LLC.
Mr. Lambert served in the United States Army Reserves from 1968-1974 and attended Pace University in New York.
About American Scientific
American Scientific Resources, Inc. is an emerging holding company based in upstate New York that provides a broad range of healthcare and medical products distributed primarily by surgical supply dealers and retail drug chains. The company is comprised of three core operating subsidiaries: 1) Heart Smart System, Inc., the company’s flagship product offering focused on the successful prevention of cardiovascular disease using its patented CoQ10 supplement 2) Kidz-Med, Inc., a leading brand of safe and innovative pediatric products, and 3) Ulster Scientific, Inc., a manufacturer and distributor of unique medical products and laboratory diagnostic equipment founded in 1974. American Scientific Resources’ growing, national customer base includes Walgreens, CVS, Cardinal Health and Fisher Scientific.
SAFE HARBOR STATEMENT: This news release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risks that our products may not achieve customer acceptance or that they will not perform as expected, that customer trials will not lead to future sales, and other risks identified in our annual report on Form 10-K and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and DVS undertakes no obligation to update such statements.
American Scientific Resources
CONTACT: Michael Cimini, +1-212-896-1233, mcimini@kcsa.com, or JessicaWolpert, +1-212-896-1289, jwolpert@kcsa.com, both of KCSA Worldwide forAmerican Scientific Resources, Inc.