Leading Medical Sales and Marketing Executive to Spearhead Akers Biosciences' Commercialization Strategy
March 27 2014 - 7:00AM
Akers Biosciences, Inc. (LSE:AKR) (Nasdaq:AKER), (the "Company" or
"ABI"), a leading designer and manufacturer of rapid diagnostic
screening and testing products, announces the appointment of Edwin
C. Hendrick as Executive Vice President, Sales and Marketing.
Mr. Hendrick is a recognized leader in product positioning and
the development and execution of sales and marketing strategies in
the medical device industry. In a career in healthcare that began
with Abbott Diagnostics and now spans nearly 25 years, he has led
the commercial aspects of diagnostic and healthcare services
companies ranging in size from $10 million to $1 billion in
revenues. Some were publicly traded corporations; others were
start-up or mid-sized companies backed by private equity or venture
capital firms. In every case, Mr. Hendrick contributed to more than
doubling or tripling revenues and profitability of those
businesses, leading to successful sales of his past three companies
to industry leaders.
In his most recent position as Executive Vice President, Sales
and Marketing of PLUS Diagnostics, Mr. Hendrick helped lead the
company's transformation from a regional lab generating $10 million
in revenues to a national leader in its field achieving more than
$100 million in revenues. PLUS' growth culminated in the company's
successful sale to Miraca Life Sciences in 2013.
Prior to PLUS, Mr. Hendrick served as an executive with US Labs,
a start-up company. He built the company's operations and sales and
marketing organizations, leading a team of over 60 to achieve
triple-digit growth annually, culminating in US Labs' $155 million
acquisition by LabCorp.
Mr. Hendrick also led sales and marketing for Ventana Medical
Systems, a medical device and reagent business that was acquired by
Roche Group in 2008. He launched two of the company's biggest
selling product lines, contributing to revenue growth from $3
million to over $75 million.
Raymond F. Akers, Jr. PhD, Executive Chairman of the Board,
commented: "The NASDAQ IPO in January enables Akers Biosciences to
put significant weight behind our commercialization strategy. Edwin
Hendrick's capabilities in in vitro diagnostics are evidenced in
his track record of delivering exponential revenue growth. We look
forward to working with Edwin and his team to capitalize on market
opportunities for the Company's diagnostic tests which are either
in-market or approaching commercialization."
Edwin C. Hendrick added: "More than two decades of medical
science have been invested in Akers Biosciences' intellectual
property resulting in the development of critical diagnostic tests
which have the potential to disrupt existing procedures in large
markets ranging from diabetes, pulmonary health and coagulation. I
am very excited to help expand the size, scope and structure of the
current sales and marketing organization to help Akers Biosciences
convert ground-breaking science into shareholder value and genuine
improvements in the quality of patient diagnoses."
As Mr. Hendrick is not being appointed to the Board of
Directors, there are no disclosures required in respect of Rule 17,
Schedule 2 (g) of the AIM Rules.
ABOUT AKERS BIOSCIENCES, INC.
Akers Biosciences develops, manufactures, and supplies rapid,
point of care screening and testing products designed to bring
healthcare information both rapidly and directly to the consumer or
healthcare provider. The Company has advanced the science of
diagnostics while responding to major shifts in healthcare through
the development of several proprietary platform technologies. The
Company's state-of-the-art rapid diagnostic assays can be performed
virtually anywhere in minutes when time is of the essence. The
Company has aligned with major healthcare companies and high volume
medical products distributors to maximize product offerings, and to
be a major worldwide competitor in diagnostics. Additional
information on the Company and its products can be found at
www.akersbiosciences.com.
Cautionary Statement Regarding Forward Looking
Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words "anticipate," "believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect" and similar expressions, as
they relate to Akers Biosciences, Inc., its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
CONTACT: For more information:
Raymond F. Akers, Jr. PhD
Executive Chairman of the Board
Akers Biosciences, Inc.
Tel. +1 856 848 8698
Brendan Hopkins
RedChip Companies, Inc. (US Investor Relations)
Tel. +1 407 644 4256 x134
Antony Legge / James Thomas
Daniel Stewart (UK Nominated Adviser and Broker)
Tel. +44 (0)20 7776 6550
Ben Simons
Vigo Communications (UK Investor Relations)
Tel. +44 (0)20 7016 9574
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