LOS ANGELES, Oct. 20, 2004 (PRIMEZONE) -- HeartSTAT Technology, Inc. (Pink Sheets:HSTA) today announced that Mr. James Hudson has accepted the position of Chief Executive Officer and Mr. Ted Russell will take over the role of Company President and Chief Technology Officer. Both will continue their positions on the Board of Directors.
Mr. Hudson currently is Chief Executive Officer and President of Hudson Medical Systems based in Toronto, Canada. Hudson Medical Systems Limited, founded in 1986, supplies medical device products to acute care hospitals throughout Canada. Previously, he was General Manager of the Cardiovascular Division of Gould Electronics, Canada; was Chief Executive Officer of Northern Medical Industries Ltd. that went public in 1979; and was Chief Executive Officer of Medicraft Ltd., which he took public in 1970. Both these companies manufactured and supplied intubation products. He also was a manager at C.R. Bard Inc.
Commenting on the announcement, Ted Russell, newly appointed President and CTO of HeartSTAT stated, "Mr. Hudson has forty years of knowledge and experience of the medical device markets, and for 15 years has assisted our mission, including having marketed an early product version of our system. As CEO he will handle day-to-day corporate and banking operations, which will allow me to stay focused on leading our industry leading research and development required to commercialize our revolutionary technology."
Mr. Arthur Alfaro served his resignation from our Board of Directors to pursue other opportunities. The Company thanks him for his service and wishes him well.
About HeartSTAT Technology, Inc.
HeartSTAT is bringing to market the first practical system for monitoring blood flow perfusion (blood oxygen transport) and heart dynamics, which have been impracticalities until now.
Initially, the new HeartSTAT technology is intended for early interventional prevention of septic shock and other conditions that kill 300,000 patients in US hospitals annually, a mortality that is almost as large as cancer. The system is for revealing vital patient problems that alter blood flow while BP does not change, to enable providing earlier and more specific intervention than is presently possible. This system can also provide real time monitoring of heart loads and cardiovascular biophysics, which may later open up a large Internet-based physician market for managing cardiovascular disease, drug interaction, heart attacks and heart failure.
More information is available at www.HeartSTAT.com
Statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties including, without limitation, continued acceptance of the Company's services, increased levels of competition for the Company and dependence on the performance of the Management of the Company.