POMPANO BEACH, Fla., April 26, 2007 (PRIME NEWSWIRE) -- MEDirect Latino Inc. (Pink Sheets:MLTO) (www.medirectlatino.org), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced that Mr. Ruben Jose King-Shaw Jr., has been named Chairman of the Company's Board of Directors, replacing Raymond J. Talarico, who will remain a director and vice-chairman.
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Mr. King-Shaw Jr. currently serves as Chairman and CEO of Mansa Equity Partners, Inc., a health care private equity investment and advisory firm with offices in Carlisle, Massachusetts and Tallahassee, Florida. Additionally, Mr. King-Shaw Jr. advises governments and companies throughout the United States, the Caribbean, South Africa and Latin America on matters of business development and strategy, mergers and acquisitions, and health care policy.
Mr. King-Shaw Jr. served in the George W. Bush Administration from 2001 to 2003, where he led many of President Bush and HHS Secretary Tommy G. Thompson's government-sponsored health care initiatives as Deputy Administrator and Chief Operating Officer (COO) of the Centers for Medicare and Medicaid Services. Ruben also served as Senior Advisor to the Secretary of the Treasury, where he led the Administration's Health Coverage Tax Credit policies to assist the uninsured. Ruben was also a member of the President's New Freedom Commission on Mental Health and a major spokesperson and policy advisor for the Administration on the topics of health care disparities, Medicare and Medicaid reform, prescription drug policy, rural and immigrant labor healthcare and commercial insurance market reform. Prior to his service in Washington, Ruben was Secretary of the Florida Agency for Health Care Administration having been appointed to that position by then Governor Jeb Bush in 1998. Ruben was Senior Vice President and Chief Operating officer of the Miami-based health insurer Neighborhood Health Partnership, Inc. before being tapped by the Jeb Bush administration.
Debra Towsley, MEDirect's president and chief executive officer, said, "Ruben's vast wealth of experience in both public and private companies, coupled with his tenure in government services will play an important role defining the strategic direction of our Company. His years of experience in the healthcare field dealing with the inner-workings of the government at virtually every level will prove invaluable in assisting our Board and the Company's management team. We are very excited about Ruben's leadership and look forward to working with him to position MEDirect Latino for continued growth and success. We would also like to thank Raymond for his leadership, vision and stewardship as Chairman of the Board of Directors, and we look forward to realizing the benefits of his continued involvement as a Board member."
ABOUT MEDIRECT LATINO:
MEDirect Latino (Pink Sheets:MLTO) (www.medirectlatino.org) is the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community. MEDirect Latino is rapidly growing and uniquely positioned to service the Hispanic community in the United States and Puerto Rico. MEDirect is the only company currently positioned to serve the U.S. Hispanic healthcare market as a direct-to-consumer Medicare provider on an authentically national level. Type II diabetes was targeted because of its unique status within the Medicare reimbursement regime and due to its high degree of correlation to other chronic conditions such as high blood pressure and heart disease. These and other conditions represent considerable future market potential. MEDirect will scale its model by leveraging its existing client base and infrastructure in introducing new products and services to existing customers as they are identified.
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Safe Harbor Disclosure:
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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