SPARKS, MD -- (MARKET WIRE) -- December 19, 2006 -- BioniCare Medical Technologies, Inc. today announced that it has hired industry veteran Randy Murphy as President and CEO. Murphy succeeds Thomas Zizic, M.D., who will become Chairman of the Board. Gerald Faust, Ph.D., will step down as Chairman of the Board and remain as a consultant to BioniCare on strategic issues.
Murphy, a 25-year veteran of the health care and high technology industries, served most recently as Vice President of Marketing and Sales for privately held RS Medical Inc., Vancouver, Wash. He built a nationwide sales organization and market strategy that propelled the medical technology company to rank among the 100 Fastest Growing Pacific Northwest Private Companies for six consecutive years.
The two companies have worked together since early 2005 when BioniCare signed a distribution agreement with RS Medical to market the BioniCare Knee Device, a relationship negotiated and managed by Murphy.
"The BioniCare Board hired Murphy to lead the company as it begins what will be a dynamic growth phase," said Dr. Zizic, BioniCare co-founder and former Associate Professor of Medicine at Johns Hopkins University School of Medicine. "We wanted an executive who will bring significant commercialization experience and proven business background to complement my scientific and medical background."
About BioniCare Medical Technologies, Inc.
BioniCare Medical Technologies, Inc. develops and markets devices to meet the growing needs of more than 70 million Americans who suffer from the painful complications of arthritis and related musculoskeletal diseases. Through application of its patented technology, BioniCare is dedicated to the discovery of non-invasive devices for the regeneration of musculoskeletal soft tissues to significantly improve the quality of patients' lives.
For more information about the company and the uses and benefits of BioniCare's non-invasive, non-drug option for treating osteoarthritis and rheumatoid arthritis, visit www.bionicare.com or call 866-BIO-KNEE (866-246-5633).
CONTACT: Jonathan Cabral Vice President, Marketing 410.472.7213 Jcabral@bionicare.com
SOURCE: BioniCare Medical Technologies, Inc.
