ALBUQUERQUE, N.M., Sept. 8, 2005 (PRIMEZONE) -- Cell Robotics International, Inc. (Pink Sheets:CRII) is pleased to announce the appointment of James S. Toreson as its chief executive officer to lead the company in its quest to become a leading supplier of innovative products in the medical device market space.
Mr. Toreson has over 30 years of experience as key executive, leading high-tech companies through their start-up, turn around, and growth phases. He was instrumental in providing them with strategic planning, capital transactions, and strategic partnerships, including IPOs; secondary offerings; private placements; acquisitions; divestitures; and Far East joint ventures with major companies in Japan, Korea, Taiwan, and the People's Republic of China. He is a "hands-on," energetic entrepreneur with a broad range of expertise in product development, marketing, and manufacturing and is the author of several patents in computer hardware technology. In the early part of his career, he made leading edge technical contributions in the fields of integrated circuits; computer design; computer peripherals; and computer-aided manufacturing at world class companies including Xebec, Hewlett-Packard, Spectra-Physics, and AT&T Laboratories.
For the past 20 years he has led growth companies in the business of personal computers; contract manufacturing; IT solutions to Fortune 100 companies; Internet infrastructure and data centers; computer security; Web-enabled software applications; Internet information portals specializing in content for online investors in the worldwide ethnic Chinese market; and jet transport of medical patients.
He is an honor's graduate of the University of Michigan with a BSEE and MSEE, was awarded a doctorate from the University of Nevada, and has done post-graduate work in computer engineering at the University of Pennsylvania and the University of Santa Clara.
Oton Tisch, chairman of the board of Cell Robotics International, stated, "We are excited with Mr. Toreson's decision to join our company and lead it through its impending growth and are confident he will build a strong management team to assist him in propelling the company to become a major player in the lucrative medical device and biotech equipment market." He further stated, "Our company has spent years in developing the technology behind its innovative "Clinical Lasette" product line, which is now ready for Mr. Toreson to provide his leadership and operational skills to bring this product to the market and deliver its potential to build strong shareholder value."
The Clinical Lasette is the only laser-based solution in this market, which affords it significant competitive advantages over the older "lancet" based technology by enabling a "needleless" method of obtaining blood samples, which uniquely satisfies the safety rules imposed by the U.S. Congress and OSHA.
The estimated size of the worldwide market for the Clinical Lasette is over 40 million dollars per annum. Further information on Cell Robotics International, Inc. and its product lines can be obtained on its website at www.cellrobotics.com.
This press release contains "forward-looking statements" within the meaning of Private Securities Litigation Reform Act of 1995. Such statements can be identified by lead-in "looking forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions.