Zila Names Executive Chairman David R. Bethune Interim Chief Executive Officer
April 01 2008 - 2:51PM
Business Wire
Zila, Inc. (NASDAQ:ZILA) today announced that its board of
directors named David R. Bethune interim chief executive officer in
addition to his role as chairman. Bethune has been a member of the
board since 2005, its chairman since May 2007 and executive
chairman since August 2007. The chief executive officer position
has been vacant since June 2007. �Our immediate actions are focused
on getting Zila�s financial challenges behind us,� Bethune said.
�We are doing this by increasing sales opportunities for all of our
products, especially our flagship product, ViziLite� Plus, reducing
costs throughout the company and raising capital. As a shareholder,
I look forward to helping build our organization, pursue its
formidable prospects and growth potential and enhance its inherent
value.� Bethune said his confidence in Zila�s underlying business
is underscored by several recent developments, including the:
November 2007 launch of ViziLite Plus in Canada; Recent contract
award to sell ViziLite Plus to all 58 Veterans Administration
dental clinics and all 154 Department of Defense dental clinics;
Expected launch of ViziLite Plus in the United Kingdom at the
British Dental Conference & Exhibition, the British Dental
Association�s annual conference, in May 2008; and Addition of
Humana Specialty Benefits and another major dental insurance
provider, making oral cancer screening a covered benefit beginning
April 1, 2008. This represents more than five million covered lives
and is in addition to the 17 million lives currently covered. Frank
Bellizzi, president of Zila Pharmaceuticals and executive vice
president of business development, will remain with the company in
those capacities. �Frank is a key member of the Zila team, and I
look forward to continue working with him to provide solid returns
for the company�s shareholders,� Bethune added. About Zila, Inc.
Zila, Inc., is a fully integrated oral diagnostic company dedicated
to the prevention, detection and treatment of oral cancer and
periodontal disease. ViziLite� Plus, the company's flagship product
for the early detection of oral abnormalities that could lead to
cancer, is the first and only adjunctive medical device cleared by
the FDA for use in a population at increased risk for oral cancer.
In addition, Zila designs, manufactures and markets a suite of
proprietary products sold exclusively and directly to dental
professionals for periodontal disease, including the Rota-dent�
Professional Powered Brush, the Pro-Select� Platinum ultrasonic
scaler and a portfolio of oral pharmaceutical products for both
in-office and home-care use. This press release contains
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. These forward-looking statements, including those
related to growing product sales, reducing costs, raising capital,
and the expected launch of ViziLite Plus in the United Kingdom, are
based largely on Zila's expectations or forecasts of future events,
can be affected by inaccurate assumptions and are subject to
various business risks and known and unknown uncertainties, a
number of which are beyond the Company's control. Therefore, actual
results could differ materially from the forward-looking statements
contained herein. A wide variety of factors could cause or
contribute to such differences and could adversely affect revenue,
profitability, cash flows and capital needs. There can be no
assurance that the forward-looking statements contained in this
press release will, in fact, transpire or prove to be accurate. For
a more detailed description of these and other cautionary factors
that may affect Zila's future results, please refer to Zila's Form
10-K for its fiscal year ended July 31, 2007 and its Form 10-Q for
the quarter ended January 31, 2008. For more information about the
company and its products, please visit www.zila.com.
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