ROCKVILLE, Md., Feb. 28 /PRNewswire-FirstCall/ -- InforMedix Holdings, Inc. (BULLETIN BOARD: IFMX) announced today that it has appointed Philip Gross, formerly CFO of America Online, and Robert Rubin, Founder of Lifetime Health, to its Board of Directors.
Mr. Gross has over 30 years of finance, business, and healthcare related experience. He currently serves as the Senior Vice President and Chief Financial Officer of DrFirst.com, Inc., an eHealthcare company focused on ePrescribing. Among the highlights of Mr. Gross' career are positions as Director of Management Information Systems at MCI Communications Corporation and Chief Financial Officer of America Online, Inc. Mr. Gross has co-founded or been involved in the development of several business services, healthcare and information technology companies in which he held senior financial or operating positions, or served as a key investor, board member, consultant and/or advisor.
"InforMedix's Med-e-Monitor(TM) System is an impressive combination of technological innovation and understanding of patient needs," Mr. Gross noted. "I am excited about the Company's potential and pleased to contribute to their success."
Robert Rubin served as Founder, President and Chief Executive Officer of Lifetime Health, the largest home healthcare company in the U.S. from 1976 to 1987. While CEO, Mr. Rubin listed Lifetime Health on the New York Stock Exchange and negotiated its purchase by Olsten in 1993 for one billion dollars. Subsequently, Mr. Rubin has funded numerous companies in the technology and home healthcare fields including Metromedia Fiber-optics, Orthopedic Technologies and Stat Health. Mr. Rubin is currently Chairman of the Board of American United Global and Western Equipment. He is an investor and shareholder in numerous companies.
"I have been involved in the healthcare sector for more than 30 years and I think InforMedix is one of the most promising opportunities I have seen in a long time," stated Mr. Rubin. "Their technology and strategy are very timely, given cost containment trends in the healthcare industry and the increasing focus on patient compliance."
Dr. Bruce Kehr, CEO of InforMedix commented: "We are very pleased and fortunate to add two accomplished board members with such impressive track records of success in the healthcare and technology industries. Their vast experience, network of contacts, and ability to drive growth will assist InforMedix in achieving our growth objectives. Phil has tremendous financial management experience and will chair the Board's Finance and Audit Committee. Bob has had extraordinary success as a healthcare entrepreneur, and will leverage his contacts and expertise in the home healthcare and disease management industries to help us drive sales of the Med-eMonitor(TM) System in these markets."
InforMedix has developed the Med-eMonitor System to provide real-time medical management and patient communications for clinical drug trials and disease management markets. InforMedix has integrated a portable patient- interactive monitoring device, hardware, software and networked communications system to enable pharmaceutical and biotechnology companies, medical researchers, and disease management programs to efficiently monitor and manage patients' medication compliance, protocol adherence, clinical response, and drug safety. Med-eMonitor is specifically designed to improve patient medication compliance and protocol adherence in clinical drug trials and disease management programs. The Med-eMonitor System leverages InforMedix's strong intellectual property consisting of 15 issued patents and 14 patents pending. InforMedix's patents have been cited as prior art by patent examiners in over 150 other issued patents. To find out more about InforMedix, Inc., visit our website at http://www.informedix.com/.
This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These statements include "their vast experience, network of contacts, and ability to drive growth will assist InforMedix in achieving our growth objectives," and "will leverage his contacts and expertise in the home healthcare and disease management industries to help us drive sales of the Med-eMonitor(TM) System in these markets." References made to the discussion of the risk factors are detailed in the Company's filings with the Securities and Exchange Commission, including the report on Form 10- QSB for the quarter ended September 30, 2004, our Annual Report on Form 10-KSB for the year ended December 31, 2003, our prospectus dated May 28, 2004 and our other filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and we disclaim any obligation to update or revise the information contained in any such forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts: Corporate Investor Relations Bruce A. Kehr, M.D. Rachel Levine Chief Executive Officer Managing Director InforMedix, Inc. The Anne McBride Company T: 301-984-1566 Tel: 212-983-1702 x207 E: rlevine@annemcbride.com
InforMedix Holdings, Inc.CONTACT: Corporate, Bruce A. Kehr, M.D., Chief Executive Officer ofInforMedix, Inc., +1-301-984-1566; or Investor Relations, Rachel Levine,Managing Director of The Anne McBride Company, +1-212-983-1702, ext. 207, orrlevine@annemcbride.com, for InforMedix Holdings, Inc.
Web site: http://www.informedix.com/
