FAIRFIELD, Conn., March 8, 2010 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (NYSE Amex:CTT) announced today that it has hired John Rooney as its new Vice President, Sales and Marketing. Mr. Rooney will focus on increasing the U.S. sales of CTT's Calmare® pain therapy medical device.
Mr. Rooney brings more than 20 years of sales and marketing experience in the healthcare industry to CTT and assumes full responsibility for CTT's U.S. sales of the Calmare Therapy Treatment medical device. He has wide-ranging experience in leading sales teams at Roche Diagnostics and Terumo Medical as well as in developing direct product positioning strategies and tactics to penetrate and expand into markets. Prior to Roche, Rooney spent years aggressively positioning products in pain management with Janssen Pharmaceutica, Inc. a division of Johnson and Johnson.
"John is a results-driven sales and marketing professional with a proven track record. We are delighted to have him leading our expanded sales team to aggressively meet our U.S. sales goals," said John B. Nano, CTT's Chairman, President and CEO. "John's experience and drive are just what CTT needs to accelerate U.S. sales of our Calmare Therapy medical device. Our non-invasive medical device treats high intensity oncologic and neuropathic pain, including pain resistant to morphine, without the adverse side effects linked to harmful narcotic painkillers."
Mr. Rooney previously served as vice president of marketing for Terumo Medical Corporation where he was responsible for a successful division start-up challenged with reclaiming business that had previously been sold through a distributor. Earlier, Mr. Rooney held key sales positions within Roche Diagnostics, a world leader in diagnostic healthcare, including Director of Marketing, where he led marketing operations for an $800 million business segment and oversaw the strategic planning and direction in support of significant market share growth.
"With my extensive experience in medical device marketing and sales, I am eager to work for CTT to position the revolutionary Calmare Therapy Treatment as a paradigm-changing medical device that will improve the lives of millions of patients who suffer from debilitating chronic pain. Combined with the compassionate hands of skillfully trained physicians, Calmare Therapy Treatment will relieve the pain and suffering of millions bringing back a quality of life that many patients and families thought was out of reach," said John Rooney, CTT's new Vice President, Sales and Marketing. "I am committed to making this medical device a success for Competitive Technologies, its business partners and for those suffering from severe and intractable pain. I am looking forward to working with the CTT sales team and the medical community."
The non-invasive Calmare Therapy medical device, which uses "Scrambler Therapy" developed in Italy by CTT's client, Professor Giuseppe Marineo, was brought to CTT through the efforts of the Zangani Investor Community™ and with the cooperation of Mr. Giuseppe Belcastro, Legal Counsel for Professor Marineo. The device has US FDA 510(k) clearance and European Union CE certification, which opened the doors to CTT's current distribution agreements covering 45 countries around the world, accounting for nearly 55% of the world's population.
CTT's partner, GEOMC Co. Ltd. of Seoul, Korea, has current manufacturing facilities capable of commercially producing 200 pain therapy medical devices per month and the partners have agreed to expand production capacity to an increased production level of 600 units per month to match increased order demand. GEOMC has invested over $3 million for the design, tooling and manufacturing facilities for the Calmare medical device. For more information on the device, visit www.CalmareTT.com.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, provides distribution, patent and technology transfer, sales and licensing services focused on the needs of its customers and matching those requirements with commercially viable product or technology solutions. CTT is a global leader in identifying, developing and commercializing innovative products and technologies in life, electronic, nano, and physical sciences developed by universities, companies and inventors. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders. Visit CTT's website: www.competitivetech.net.
Statements made about our future expectations are forward-looking statements and subject to risks and uncertainties as described in our most recent Annual Report on Form 10-K for the year ended July 31, 2009, filed with the SEC on October 27, 2009, and other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.