Communications Synergy Technologies, Inc. Announces Board and Officer Appointments; Peter M. Palermo re-Elected as Chairman of
February 27 2006 - 8:55AM
Business Wire
Communication Synergy Technologies, Inc. (OTC: CSYT) (ComSynTech),
a developer of radiology information management and document
preservation systems, announced today that Peter M. Palermo,
Chairman of the Board, has been re-elected to an additional term.
Mr. Palermo is Founder, Chairman and CEO of Strategic Triangle,
Inc., an international management consulting firm which specializes
in assisting executive management teams in identifying strategic
and financial alternatives and forming strategic alliances. Prior
to this, he served a variety of progressive executive management
roles at Eastman Kodak Company to include Chief Marketing Officer,
President of Medical Imaging and Health Sciences, and President of
the Consumer Imaging Group. He retired from Kodak in 1994. Seth A.
Borg, M.D., President, CEO and Founder of ComSynTech, noted, "We
are very pleased that Peter will continue in his role as Chairman
of the Board. He has been instrumental in defining our strategic
focus to bring our products to market and initiating relationships
with key strategic partners. His knowledge in the medical imaging
industry and technology development markets is invaluable to our
product commercialization efforts." Mr. Palermo commented, "I am
intrigued with the technology that ComSynTech has developed and
excited about its prospects. Strategically, the Company has the
potential to build its revenue through direct sales and
partnerships and, with sufficient traction, it can then sell or
license its technologies which will then fund the development of
the next technology in the pipeline. I am pleased to be a part of
the team." ComSynTech also announced that it had appointed Craig
Stevens as Vice President of Sales and Business Development and
Thomas Willoughby as Vice President Business Development for its
Medical Synergy Technologies subsidiary. Their primary focus will
be on the market introduction and sales of InFORM(tm), a modular
radiology information management system. Stevens, formerly Vice
President of Indirect Sales for Eastman Kodak's Medical Imaging and
Health Sciences Group, has extensive experience in identifying new
market channels and building partnerships. In addition to his
former role at Kodak, Stevens held a variety of positions including
VP Indirect Sales, for Kodak's Health Imaging Division where he
managed and developed strategy for the multi-million dollar
"Medical Distributor" Channel business. Craig also served as the
division's VP Americas Service, where he managed top and bottom
line performance of the $126 million medical service business with
over 1100 employees. Other positions included multiple
international assignments. He received his BS from Florida State
University and financial training from the Kellogg School of
Business. Willoughby, formerly with Eastman Kodak as its Director
and Vice President Medical Imaging Business, brings over 29 years
experience in medical imaging technology to ComSynTech. His
responsibilities included business channel development and the
management of Health Imaging's national account organization. As
Corporate Account Executive for Konica Minolta Medical Imaging, he
had extensive involvement in managing the medical product sales
channels and corporate accounts. He has a BS in Political History
from SUNY, and completed the Advanced Business Management Program
at Rochester Institute of Technology School of Business. Dr. Borg
added, "Our primary focus is on growing market awareness and
building sales of InFORM(tm), our unique modular radiology
information system. The power of our product lies in its patented
clinical diagnostic reporting module which can reduce transcription
costs by up to half and eliminate redundant activities for medical
doctors and radiologists. Another unique feature of our product is
its practice performance module, designed to help practitioners
improve profit margins and enhance revenue opportunities. We
believe that with the addition of Craig and Tom to our team, we can
accelerate the market entry of InFORM(tm)." About ComSynTech
Communication Synergy Technologies, Inc. develops and markets
document creation, management and preservation systems for
medicine, industry, finance, and government. Its strategy is to
continue to develop new products to improve medical practices'
processes and create information preservation technologies. The
products developed by ComSynTech provide efficiency, improve
operational processes and enhances communication quality by
automating the creation, capture, management, distribution,
archiving, preservation and retrieval of voice and word documents.
ComSynTech's InFORM(tm), DocVAULT and eflash integrate with, and
complement, existing information management systems enabling rapid
implementation and ease of use. More information about ComSynTech
and its products can be found at its website: www.comsyntech.com.
Safe Harbor Statement This release contains forward-looking
statements regarding expectations for future financial performance,
which involve uncertainty and risk. It is possible the Company's
future financial performance may differ from expectations due to a
variety of factors including, but not limited to, changes in
economic and business conditions in the world, increased
competitive activity, achieving sales levels to fulfill revenue
expectations, technology advancements, unexpected costs and
charges, adequate funding for plans, regulatory and other approvals
and failure to implement all plans, for whatever reason. It is not
possible to foresee or identify all such factors. Any
forward-looking statements in this report are based on current
conditions; expected future developments and other factors it
believes are appropriate in the circumstances. Prospective
investors are cautioned that such statements are not a guarantee of
future performance and actual results or developments may differ
materially from those projected. The Company makes no commitment to
update any forward-looking statement included herein, or disclose
any facts, events or circumstances that may affect the accuracy of
any forward-looking statement.
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