BETHEL, Ct., Sept. 12, 2007 (PRIME NEWSWIRE) -- Aduromed Industries Inc. (OTCBB:ADRM), a leading manufacturer of medical waste treatment systems, today announced that Joseph A. Esposito has been named as a corporate and business development advisor to the company.
Mr. Esposito brings a broad background of over 30 years of managing the growth and profitability of domestic and international technology companies. For the past year he has been advising the portfolio companies at Insight Venture Partners, a private equity firm with more than $1.5 billion under management.
Prior to joining Insight, he was President and CEO of eResearch Technology, Inc., formerly Premier Research Worldwide, a leading provider of technology and services to collect, process, and distribute cardiac safety and clinical data for companies in the life sciences industry. During his tenure as President and CEO from 2001 through 2006, the company's market valuation grew from $27 million to a peak of $1.5 billion, receiving recognition from Fortune Magazine as the number two fastest growing company in America.
"Joe brings with him a wealth of capability and vision that will further strengthen the team at Aduromed," said Damien R. Tanaka, Aduromed's CEO and President. "We look forward to Joe working with us to accelerate sales and helping us to increase shareholder value as he has already done with other companies."
Mr. Esposito commented, "I have the opportunity to look at many different companies in an advisory role and I find the opportunities with Aduromed to be particularly exciting. I believe that the market for Aduromed's systems is significant and will continue to expand. I am excited to bring my experience to the Aduromed team, and to work with them to enhance the growth opportunities available to the company."
In 2005, the Eastern Technology Council recognized Mr. Esposito as a finalist for CEO of the Year. In 2002, Mr. Esposito was awarded The Ellis Island Congressional Medal of Honor for outstanding citizenship, individual achievement, and encouragement of cultural unity. He is a Magna Cum Laude graduate of the State University of New York at Buffalo, with a degree in Management Sciences.
About Aduromed Corporation
Aduromed Industries, Inc., through its wholly-owned subsidiary, Aduromed Corporation, is one of the largest modern day providers of systems for the onsite disposal of medical waste that incorporates the design, installation and servicing of turnkey systems to treat infectious regulated medical waste (RMW). ADRM provides proprietary equipment and systems for efficient, safe, cost effective and legally compliant alternative solutions to incineration or off-site hauling of RMW, as well as to other treatment technologies and methodologies. With a strong base of suppliers and clients ADRM is positioned for significant growth within the medical waste industry.
Aduromed's MedClean Series System treats and processes all forms of RMW, sterilizing the waste prior to rendering it unrecognizable. Through the use of a unique and proprietary dual-stage shredding machine, this System converts such waste into safe solid waste (SSW) for disposal into a normal landfill. The System is part of Aduromed's MedClean Program, which incorporates collection, transportation and processing of medical waste on site, and eliminates any manual handling or transfer of the medical waste until its conversion into SSW, thereby protecting the operator and limiting liability for the institutions using the Program. The Program provides the further benefit of eliminating the transportation of RMW over public roadways. The unique design and arrangement of the System's components make it the smallest footprint within an industry where real estate is at a premium. Each MedClean Series System installation is sized appropriately to ensure ample capacity to treat and process medical waste efficiently and effectively.
The current U.S. medical waste market is estimated to be $3 billion. Further information on Aduromed can be found at www.aduromed.com and in filings with the Securities and Exchange Commission found at www.sec.gov.
This press release and the information incorporated by reference may include "forward looking statements": within the meaning of applicable Federal Securities Laws. The Company intends the forward looking statements to be covered by the safe harbor provisions for forward looking statements. All statements regarding the Company's expected financial position and operating results, its business strategy, its financing plans and the outcome of any contingencies are forward looking statements. The forward looking statements are based on current estimates and projections about our industry and our business. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward looking statements. The forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward looking statements, including those set forth in our most recent Annual Report on Form 10-KSB for the year ended December 31, 2006, filed with the SEC on March 30, 2007, and other filings with the SEC, and are subject to change at any time. The Company assumes no obligation to update publicly the forward looking statements contained herein, whether as a result of new information, future events or otherwise, except as may be required by law.