Healthcare Industry News: GE Capital
News Release - September 3, 2008
Aduromed Announces New CEO; Completes New Equity Capital Raise of $4.8 MillionAduromed Accelerates Implementation of its Plan for Rapid Growth
BETHEL, Conn., Sept. 3 (HSMN NewsFeed) -- Aduromed Industries, Inc. (OTC Bulletin Board: ADRM ), a provider of innovative technology and services for the onsite treatment and disposal of regulated medical waste, today announced the appointment of Mr. Scott Grisanti as President and Chief Executive Officer of the Company. Mr. Grisanti was also elected as a director of the Company. The Company also announced the raising of an additional $1 million of new equity capital pursuant to its previously announced corporate restructuring. This brings the total amount of new equity capital raised pursuant to the restructuring to $4.8 million after placement fees.
Prior to joining the Company, Mr. Grisanti was the Executive Vice President of Sales, Marketing and Services at Primavera Systems, Inc., a leading provider of program and portfolio management application software and services solutions used to manage larGE Capital projects in targeted market segments. He led the effort to increase revenues from $108 million to $205 million projected for 2008. Prior to joining Primavera, Grisanti served as Executive Vice President and Chief Marketing Officer for eResearchTechnology, Inc., a leading provider of technology and services for the new drug development industry. Responsible for global sales, marketing and strategic alliances, he was a key member of an executive team that increased revenues from $28 million to $109 million and market capitalization from $42 million to $1.5 billion. Previously, Grisanti served in an executive sales management capacity at supply chain execution application solution providers ClearCross, Inc. and Optum, Inc. He received his bachelor degree in English and Journalism from Rutgers University, where he was elected to Phi Beta Kappa.
Mr. Joseph Esposito, Chairman of the Company, commented, "I have known and worked with Scott for many years and I am confident that Scott brings exceptional leadership experience to the executive management team and the board. He possesses a unique blend of business development skills and operational experience that will enable him to execute the Company's plan to accelerate growth at this stage in its development. I welcome Scott to the Aduromed team and look forward to once again working with him."
"I am excited to have the opportunity to again partner with Joe, as well as the entire Aduromed team, to create significant shareholder value as we execute our plan to accelerate growth at Aduromed," said Mr. Grisanti. "My immediate focus will be to expand the product line, offering standard systems with flexible acquisition alternatives to a broader base of potential clients. In addition, we will be adding talent to the management team to enable us to expand our regulatory service business and expand our market footprint through complementary channels of distribution."
Aduromed Industries, Inc., through its wholly-owned subsidiary, Aduromed Corporation, is a provider of innovative technology and services for the onsite treatment and disposal of regulated medical waste. Aduromed's flagship MedClean® Series systems are fully integrated, turnkey technology solutions that enable hospitals and other healthcare providers to safely, efficiently and cost-effectively convert bio-hazardous regulated medical waste into sterile, unrecognizable material suitable for disposal as municipal solid waste.
Aduromed was founded in 1997 with corporate headquarters, research and development and distribution facilities located in Bethel, Connecticut. Further information on Aduromed can be found at http://www.aduromed.com and in filings with the Securities and Exchange Commission found at http://www.sec.gov.
Statements about our future expectations are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. When used herein, the words "may," "will," "should," "anticipate," "believe," "appear," "intend," "plan," "expect," "estimate," "approximate," and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business, including those set forth in our most recent Annual Report on Form 10-K for the year ended December 31, 2007, filed with the SEC on March 31, 2008, and other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.
Source: Aduromed Industries
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