CMPD Common Stock (PK)

W. Scott Rombach appointed CompuMed’s President. Maurizio Vecchione to continue as Chief Executive Officer and is appointed to the Board of Directors

On October 12, 2012 CompuMed entered into an employment agreement with W. Scott Rombach to serve the Company’s President. Maurizio Vecchione, previously the Company’s CEO and President will continue as the CEO. Additionally, the Company has announced that Maurizio Vecchione has been appointed to the Board of Directors. Mr. Rombach has served on the Board of Directors of CompuMed since he was appointed in 2011. He will continue to serve as a Director of CompuMed. 

For the past six years, Mr. Rombach has served as Chief Executive Officer of Rombach Capital and as an independent private investor specializing in focused investing.  From March 1998 to January 2005, Mr. Rombach served as a sales executive with PeopleSoft, Inc. where Mr. Rombach specialized in executing large software and services deals. Prior to its acquisition by Oracle, PeopleSoft was the global leader in providing enterprise human resources and payroll software solutions.  Mr. Rombach also has experience in a start-up environment.  With Armstrong Laing, he drove sales that helped this UK based company to become one of the market leaders in Activity Based Management (ABM) software solutions.   Mr. Rombach has an M.B.A. from Georgia State University and a B.A. in Marketing from Michigan State University.

Mr. Rombach’s employment agreement with CompuMed is for a two-year term effective as of October 1, 2012, but may be terminated by either party at any time.  Pursuant to the agreement, Mr. Rombach will receive $85,500 per year in annual compensation, standard employee benefits, as well as incentive compensation equal to 30% of the lower of CompuMed “Free Cash Flow” or net income (as defined by GAAP) calculated on a quarterly basis.  “Free Cash Flow” means total cash flow from operating activities less capital expenditures as defined by GAAP. 

Mr. Rombach currently holds (i) 170,000 of CompuMed Nonqualified Stock Options which Mr. Rombach received as compensation for his previous service on the CompuMed Board of Directors and (ii) warrants to purchase 650,000 shares of CompuMed which were granted to Mr. Rombach for additional time given above the time required in his capacity as a Director to support the Company and its management to develop and implement sales and marketing strategies to expand the Company’s revenue base.

Mr. Rombach’s business address is 5777 West Century Boulevard, Suite 360

Los Angeles, California 90045.

About CompuMed

CompuMed's diagnostic and management tools for the healthcare community focus on telecardiology systems and software solutions. We offer analysis and remote monitoring for patients with cardiovascular and musculoskeletal diseases designed to improve healthcare provider workflow and patient care while reducing costs. CompuMed is headquartered in Los Angeles and distributes its products worldwide both directly and through OEM partners. Visit CompuMed at www.compumed.net and follow on Twitter @compumed.

Forward-Looking Statements

Statements contained in this report, such as statements about revenue, operations, and earnings growth and other financial results are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including statements concerning the Company's plans, objectives, expectations and intentions are based largely on management’s expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are subject to uncertainties and risks including, without limitation, product and service demand and acceptance, changes in technology, ability to raise capital, the availability of appropriate acquisition candidates and/or business partnerships, economic conditions, the impact of competition and pricing, capacity and supply constraints or difficulties, government regulation and other risks identified in the Company's filings with the Securities and Exchange Commission and OTC Pink operated by OTCMarkets. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.

Contact Information: Press Contact:
Susan Tellem
Tellem Grody Public Relations
+1 310-313-3444
susan@tellemgrodypr.com

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