RICHLAND, Wash., Jan. 14, 2016 /PRNewswire/ -- IsoRay Inc.
(NYSE MKT:ISR), a medical technology company and innovator in seed
brachytherapy and medical radioisotope applications for the
treatment of prostate, brain, lung, head and neck and gynecological
cancers, today announced the appointment of Thomas LaVoy as CEO effective February 15. He was previously appointed Chairman
of the Board when the former Chairman retired on January 7, 2016.
Mr. LaVoy, who has served on the Board of Directors since 2005,
stated: "I am very excited about the new direction I plan to take
this Company. I plan on spending significant time in Richland, WA at the manufacturing
facility. My initial focus will be to locate talented sales
representatives and restructure the marketing and sales teams. I am
very excited to have Dr. Philip
Vitale on the Board to assist with overseeing how the
Company can better serve the physician community. I am also excited
to have fellow board member Mick
McCormick to assist with developing a new marketing strategy
plan. The Board of Directors believes it is now time to focus more
on how to increase our revenues, particularly in our core prostate
applications."
Mr. LaVoy brings more than 35 years experience leading and
building successful, publicly traded businesses. With
SuperShuttle International, a leader in the transportation
industry, Mr. LaVoy serves as Deputy Chief Operating Officer,
President of Corporate Services and Chief Financial Officer, and
has given his notice of resignation from these positions. Mr.
LaVoy was instrumental in developing SuperShuttle's strategic
growth plans which included: revenue growth from $35 million in 1997 to more than $340 million in 2015; acquiring more than 30
businesses; expanding operations to more than 50 locations; and
spearheading the acquisition of the business by a large
international partner, Veolia Transportation Inc., in 2006.
Prior to his tenure at SuperShuttle, Mr. LaVoy served as CFO of
Photocomm, Inc., a leader in solar electric manufacturing,
engineering and distribution, from 1987 to 1997. During his term
with this small public company, he oversaw the reorganization and
access of working capital from shareholders, taking the company
public in 1998, and revenue growth from $5
million to over $25 million in
fewer than ten years.
"Tom has a proven track record of growing publicly traded
companies. His focus on growth, strong internal teams and
strategic planning is what IsoRay needs in a CEO to continue to
propel the company into the future," stated Dr. Vitale.
"IsoRay is on an upward trajectory because of its innovative and
life-saving applications and Tom will provide the leadership to
ensure the Company optimizes its growth potential."
About IsoRay
IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc. is
the sole producer of Cesium-131 brachytherapy seeds, which are
expanding brachytherapy options throughout the body. Learn more
about this innovative Richland,
Washington company and explore the many benefits and uses of
GliaSite® and Cesium-131 by visiting www.isoray.com. Join us on
Facebook/Isoray. Follow us on Twitter @Isoray.
Safe Harbor Statement
Statements in this news release about IsoRay's future
expectations, including: the advantages of our products and their
delivery systems, whether new sales and marketing strategies will
be implemented or produce favorable results, whether plans will be
developed or implemented with a goal of increasing revenues,
whether IsoRay will be successful in optimizing its growth
potential, and all other statements in this release, other than
historical facts, are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
("PSLRA"). This statement is included for the express purpose of
availing IsoRay, Inc. of the protections of the safe harbor
provisions of the PSLRA. It is important to note that actual
results and ultimate corporate actions could differ materially from
those in such forward-looking statements based on such factors as
physician acceptance, training and use of our products, our ability
to successfully manufacture, market and sell our products, our
ability to manufacture our products in sufficient quantities to
meet demand within required delivery time periods while meeting our
quality control standards, our ability to enforce our intellectual
property rights, whether additional studies are released and
support the conclusions of past studies, whether ongoing patient
results with our products are favorable and in line with the
conclusions of clinical studies and initial patient results,
patient results achieved when our products are used for the
treatment of cancers and malignant diseases, successful completion
of future research and development activities, whether we, our
distributors and our customers will successfully obtain and
maintain all required regulatory approvals and licenses to market,
sell and use our products in its various forms, continued
compliance with ISO standards as audited by BSI, the success of our
sales and marketing efforts, changes in reimbursement rates,
changes in laws and regulations applicable to our products, and
other risks detailed from time to time in IsoRay's reports filed
with the SEC. Unless required to do so by law, the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE IsoRay Inc.