MIAMI--(BUSINESS WIRE)--IVAX Diagnostics, Inc. (AMEX:IVD - News) announced today that Charles R. Struby, Ph.D., has been appointed its Chief Executive Officer and President following the resignation of its prior Chief Executive Officer and President, Paul F. Kennedy, who resigned from such positions, as well as from his position as Chairman of the Board of Directors, in order to be able to devote more time to other business opportunities in Europe. Mr. Kennedy continues to serve as a member of the Board of Directors of IVAX Diagnostics. Mr. Kennedy has also informed IVAX Diagnostics that he intends to maintain a large equity interest in the Company.
Dr. Struby has over 25 years of senior executive experience in the life sciences industry. Most recently, Dr. Struby served as Senior Director of Business Development of The Medicines Company, a NASDAQ-listed acute-care pharmaceutical company, from 2006 through 2008. From 2005 through 2006, Dr. Struby served as General Manager of Kansas City Operations of Harte-Hanks, Inc., a worldwide direct and targeted marketing company, and as Vice President of The Mattson Jack Group, Inc., a consulting firm focused on the pharmaceutical and biotech industries. From 1982 through 2004, Dr. Struby served Sanofi-Aventis Pharmaceuticals, Inc. (and its legacy companies), a leading global pharmaceutical company, in a variety of senior executive positions, including various director and vice president positions. Prior to that time, Dr. Struby practiced as a certified public accountant. Dr. Struby earned his B.S. in Business from Kansas State University, his M.S. in Accounting from Louisiana State University and his Ph.D. in Pharmaceutical Sciences from the University of Missouri at Kansas City.
Dr. Charles R. Struby said, “I am extremely excited about joining the IVAX Diagnostics team. I believe that IVAX Diagnostics is well positioned to successfully implement its strategic initiatives, including building upon its operating companies in the U.S. and Italy by expanding the menu of test kits that it offers. I expect that my experience, together with the experience and dedication of the other members of the IVAX Diagnostics team, will enable IVAX Diagnostics to successfully expand its product offerings and market reach. I look forward to the opportunity of making IVAX Diagnostics one of the leaders in the diagnostics industry.”
IVAX Diagnostics also announced today that Patrice Debregeas has been appointed its non-executive Chairman of the Board of Directors to fill the vacancy created by Mr. Kennedy’s resignation from that position. Mr. Debregeas previously served as non-executive Vice Chairman of the Board of Directors.
The entire IVAX Diagnostics organization is very appreciative of Mr. Kennedy’s contributions and efforts during his service as Chief Executive Officer, President and Chairman of the Board of Directors and wishes Mr. Kennedy well in all of his future business endeavors.
About IVAX Diagnostics, Inc.
IVAX Diagnostics, Inc., headquartered in Miami, Florida, develops, manufactures and markets proprietary diagnostic reagents, instrumentation, and software in the United States and Italy through its three subsidiaries: Diamedix Corporation, Delta Biologicals S.r.l., and ImmunoVision, Inc.
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the business and prospects of IVAX Diagnostics, Inc., including, without limitation, that: IVAX Diagnostics may not successfully implement the strategic initiatives described above; the implementation of the strategic initiatives described above may result in additional expenses for IVAX Diagnostics; even if successfully implemented, the strategic initiatives described above may not result in improved financial performance for IVAX Diagnostics; IVAX Diagnostics may not expand the menu of test kits that it offers; IVAX Diagnostics’ current customer base may not respond as expected to an expansion of IVAX Diagnostics’ menu of test kits; IVAX Diagnostics may not achieve organic growth; IVAX Diagnostics may not expand its product offerings, expand its market reach, or become a leader in the diagnostics industry; and other risks and uncertainties that may cause results to differ materially from those set forth in the forward-looking statements. In addition to the risks and uncertainties set forth above, investors should consider the economic, competitive, governmental, technological and other risks and uncertainties discussed in IVAX Diagnostics’ filings with the Securities and Exchange Commission, including, without limitation, the risks and uncertainties discussed under the heading “Risk Factors” in such filings.
Contact:
IVAX Diagnostics, Inc., Miami Duane Steele, 305-324-2338 www.ivaxdiagnostics.com
