Denver, North Carolina–(Newsfile Corp. – March 11, 2019) – CVR Medical Corp. (TSXV: CVM) (OTCQB: CRRVF) (“CVR Medical”) a Canadian listed and US based healthcare company in the medical device sector announces that James D’Orta. M.D. has joined the Board of Directors. Dr. D’Orta joins CVR Medical’s extensive leadership as the company moves toward market entry of its disruptive medical device, the Carotid Stenotic Scan (CSS).
Dr. D’Orta is a seasoned business executive, entrepreneur, and physician, with many years of leadership experience in both clinical and business settings. Dr. D’Orta is known for his strategic insights and contributions on numerous boards of directors in both the profit and nonprofit sectors; his ability to position new and existing companies for long-term success; and his extensive national and international network of senior-level contacts in business, government, and nonprofits.
Dr. D’Orta currently services on the Board of Directors of Accuity Delivery Systems, an emerging company that helps hospital systems reduce risk and improve financial performance through better clinical documentation, inpatient coding, business intelligence and technology. Previously, he served as a Director of Cogentix Medical (NASDAQ: CGNT), a medical device company that designs, develops, manufactures and markets technologies for the urology and gynecology markets. As a member of the Governance and Audit committees and Chairman of the Compensation Committee, he helped oversee a broadening of the company’s tech portfolio and its acquisition by LABORIE Medical Technologies. Before that, he was Acting CEO of ACell, a Maryland-based medical device manufacturer. Prior to becoming CEO, he served as a member of the Board of Directors and as chairman of the board’s Corporate Governance, Nominating and Compliance Committees. Prior to ACell, Dr. D’Orta served as the Founder and CEO of Consumer Health Services, Inc., which provided medical support for the walk-in medical clinics in Duane Reed drugstores. Consumer Health Services was acquired by Walgreens in 2013. He formerly was an investor, medical advisor and member of the Board of Directors of Minute Clinic, the walk-in medical clinics which was sold to CVS drugstores. Earlier, he was founder and CEO of LifeLink MD, providing distribution, training and medical oversight for automated external defibrillators (AEDs), as well as public advocacy and education that helped make AEDS widely available. That company was later sold to Medtronic. In the 1980s, he was a partner in Professional Emergency Physicians (PEP), a group of emergency medical physicians with contracts in several leading hospitals in the DC-Maryland-Virginia region. PEP was later merged into Sterling Health, Inc.
In the 1990s, he served in numerous public service positions, including chairman of the Maryland Governor’s Commission on Emergency Medical Services, which was responsible for keeping Maryland’s emergency medical system at the forefront of such systems nationwide. During this period, he earned honors for his leadership within the medical community and in numerous humanitarian missions. He currently serves on the Board of Directors of MedStar Health, Inc., the largest provider of acute and in-hospital care within the tri-state area; and he serves on several nonprofit and community service boards.
Peter Bakema, Chairman and CEO of CVR Medical, states, “We are thrilled to welcome Jim to our Board of Directors and to have his rare breadth of experience and knowledge going forward. His track record of creating and growing viable businesses into market leaders leading to successful M&A events speaks to a visionary quality that we strive for at CVR. His involvement in moving our Carotid Stenotic Scan (CSS) device to market is another confident step towards providing a solution for a major sector of the healthcare industry beset with high costs and access barriers.”
About CVR Medical
CVR Medical Corp. is a healthcare company that operates in the medical device industry focused on the commercialization of its disruptive, proprietary Carotid Stenotic Scan (CSS). The CSS is a diagnostic tool that encompasses subsonic, infrasonic, and low frequency sound wave analysis technology. The CSS is a patented device designed to detect and measure carotid arterial stenosis. CVR is currently conducting clinical trials at leading institutions and has submitted its CSS device to the FDA as a De Novo application. CVR is led by an experienced and proven team of professionals with extensive healthcare, medical device, international expansion, regulatory and sales experience. CVR Medical trades on the TSX Venture Exchange under the symbol “CVM” and on the OTCQX under the symbol “CRRVF”. Additional information regarding the Company can be found in our recent filings with the SEDAR as well as the information maintained on our website at www.cvrmed.com
ON BEHALF OF THE BOARD:
(signed) “Peter Bakema”
CEO, President & Director
For further information contact:
Peter Bakema, CEO, President and Director
Marc S. Lubow.
Executive Vice President
(904) – 923 – 4037
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Joint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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