COSTA MESA, Calif., Oct. 3 /PRNewswire-FirstCall/ -- CNS Response, Inc. announced today the appointment of George C. Carpenter IV as President. Len Brandt, Chairman and CEO, who previously held the title of President, will continue as the Company's chief executive.
A 20-year veteran of the health services industry, Mr. Carpenter was most recently President and CEO of Work WellSystems, Inc., a national physical medicine firm that manages occupational health programs for Fortune 500 employers. Prior to that, Mr. Carpenter was CEO of CORE, Inc., a publicly- traded market leader in integrated health and disability management.
As president of CNS Response, Mr. Carpenter will be focused on the commercialization of the Company's Referenced-EEG(SM) (rEEG(SM)) platform to improve the success of behavioral therapies for patients. rEEG(SM) is a patented system that uses electroencephalography (EEG) in conjunction with a normative database and a proprietary clinical database to characterize features of brain function underlying a broad range of psychiatric syndromes.
"It's great to have George's leadership and experience as the Company's President," stated Len Brandt, Chairman and CEO of CNS Response, Inc. "As a pioneer in driving adoption of new and innovative technologies in under-served markets, Mr. Carpenter will now focus on the commercialization of our rEEG(SM) among psychiatrists, patients and payors in advancing personalized medicine in behavioral disorders. His experience at high-growth, innovative healthcare companies adds tremendous value to CNS Response, and we are excited to have him join our management team."
Of particular note, Mr. Carpenter founded CORE, Inc. and served as its Chairman and CEO from 1990 until its acquisition by Assurant, Inc. in 2001. Utilizing its proprietary WorkAbility database, CORE became a market leader in integrated health and disability management. CORE, Inc. was established by Mr. Carpenter after leading the management buyout of the division of Baxter Healthcare where he was Vice President, Operations.
"Analogous to our work at CNS Response, CORE's unique database allowed vastly improved management of medical disability for large employers and payors. That background should help in our mission to improve management of behavioral healthcare, particularly with employers and payors," commented Horace Hertz, CFO of CNS Response.
Mr. Carpenter, President of CNS Response, remarked, "I have commercialized a number of technologies in health care, but have never seen such a potentially industry-changing opportunity. The implications of a technology that helps doctors prescribe the right medication for the right patients, even the most treatment-resistant, are enormous for patients, providers and payors. I look forward to working with Len and his team to make this happen."
About CNS Response
CNS Response is a life-sciences data company focused on the commercialization of the first patented commercial system that guides psychiatrists and other physicians to determine proper treatments for patients with behavioral (mental or addictive) disorders. This technology allows CNS Response to create and provide simple reports ("rEEG(SM) Reports") that specifically guide physicians to treatment strategies based on the patient's own physiology.
rEEG(SM) utilizes traditional electroencephalography (EEG) in conjunction with a normative database and a proprietary clinical (symptomatic) database to identify the following: (1) medication classes most likely to be needed; and (2) medications within these classes with the most probable treatment potential for each patient. Reports are provided to physicians in a relationship analogous to that of a reference laboratory. Prospective, retrospective and field studies of treatment-resistant patients have reported treatment success of 70% or greater in managed care, outpatient psychiatric and residential substance abuse clinical settings.
In addition to providing analytical support to physicians, CNS Response is also an aide to pharmaceutical developers, who can use rEEG(SM) to (1) stratify study populations to improve the success of FDA clinical trials; (2) provide insight on effective therapeutic dosing of investigational drugs; (3) identify additional indications for psychiatric medications; (4) provide insight into effective drug combinations; and (5) discover opportunities for decision analytics and support. In addition to these applications, CNS Response continues to investigate the use of rEEG analysis for development of proprietary pharmaceutical opportunities.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for the historical information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties as set forth in the Company's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein.
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CONTACT: Investors, Sara Ephraim, +1-646-536-7002,
sephraim@theruthgroup.com, or Media, Janine McCargo, +1-646-536-7033,
jmccargo@theruthgroup.com, or Jason Rando, +1-646-536-7025,
jrando@theruthgroup.com, all of The Ruth Group, for CNS Response, Inc.
