CHATSWORTH, Calif., June 16, 2003 (PRIMEZONE) -- International Remote Imaging Systems, Inc. (AMEX:IRI) a manufacturer and marketer of automated IVD urinalysis systems and medical devices used in hospitals and reference clinical laboratories worldwide, today announced the promotion of Cesar Garcia to President and Chief Operating Officer of the Company.
Mr. Garcia, who joined the Company in January 2002 as Corporate Executive Vice President responsible for the Iris Diagnostics Division and the Company's StatSpin(r) Subsidiary, will continue to report directly to Dr. Kshitij Mohan, who will continue in his role as Chief Executive Officer.
"Cesar richly deserves this promotion for his leadership of the Diagnostics Division and as the Corporate Executive Vice President of the Company over the last year and a half," Dr. Mohan stated. "With his increased help in running the company, I will be able to focus more on product and business strategies, developing and implementing strategic relationships, attracting greater interests in the Company from the investment community, and accelerating the transformation of IRIS to a bigger and better presence in the urinalysis and diagnostic industry."
Before joining International Remote Imaging Systems, Mr. Garcia served as President of Primera LLC of Philadelphia, Pa., a management consulting company. From 1998 to March 2001, he was Senior Vice President of Cytometrics Incorporated, a manufacturer of non-invasive medical devices for point of care blood diagnostics and for in-vivo analysis of microcirculation. From 1994 to 1998, Mr. Garcia was Vice President, Operations and Engineering for Datascope Corporation, Patient Monitoring Division, a manufacturer of medical devices for cardiology, anesthesiology, and critical monitoring. From 1992 to 1994, Mr. Garcia held the position of Director, Hematology Business Unit, Bayer Diagnostics Division of Bayer USA. Mr. Garcia started his business career in 1974 with the Technicon Electronics Corporation (a subsidiary of Bayer USA) as an engineer, moving up the management ladder to become its General Manager from 1984 to 1992. He holds a B.S. in Industrial Engineering (Cum Laude) from the University of Puerto Rico and an Advanced Management Certificate from Pace University, New York.
The Company
International Remote Imaging Systems, Inc. has an established reputation as a leader in automated urinalysis technology and image flow cytometry. The Company's Iris Diagnostics Division is a leader in automated urinalysis technology with workstations in major medical institutions throughout the world. Using a patented Automated Intelligent Microscopy (AIM) technology and Auto Analyte Recognition software (AAR), a significant reduction in the cost and time consuming steps for manual microscopic analysis can be achieved.
The StatSpin(r) subsidiary, based in Norwood, Mass., is a worldwide leader in accelerated sample preparation for blood, body fluids and urine analysis. The subsidiary makes innovative centrifuges and blood analysis products, including the world's fastest blood separator (30 seconds). StatSpin's worldwide markets include medical institutions, commercial laboratories, clinics, doctors' offices, veterinary labs and research facilities. Its bench top centrifuges are dedicated to applications for manual specimen preparation for coagulation, cytology, hematology, and urinalysis.
Advanced Digital Imaging Research, LLC, is a research and development subsidiary based in the Houston, Texas area. ADIR assists in the advancement of proprietary imaging technology while conducting government-sponsored research and development in medical imaging and software, and contract research for corporate clients.
SAFE HARBOR PROVISION
This news release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future commercial revenues, market growth, capital requirements, new product introductions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," "plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: unexpected technical and marketing difficulties inherent in major product development efforts such as the current project to improve the Company's urinalysis workstation product line; the potential need for changes in long-term strategy in response to future developments; future advances in diagnostic testing methods and procedures, as well as potential changes in government regulations and healthcare policies, both of which could adversely affect the economics of the diagnostic testing procedures automated by the Company's products; rapid technological change in the microelectronics and software industries; and increasing competition from imaging and non-imaging based in-vitro diagnostic products. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors that may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.