The Company also announced that it has signed a marketing agreement to sell its scanners into the Wound Care market and that it has secured funding for production of new scanners.
Michael C. Boyd, who is currently CEO and President of Longport, will remain CEO. He stated that Paul Wilson brings with him an extensive background in product development and business management. He has been President of Longport International, Ltd., for 3 years and involved with Longport, Inc. for 5 years.
He has overseen the development of the Longport Digital Scanner and the ongoing linear array development.
Paul Wilson stated that, "I am pleased to take on this new role and I believe that Longport has a unique opportunity to strengthen its position as a market leader in the new high-resolution ultrasound markets. Also, through Longport's ongoing array based development, the opportunity to enter the established medical ultrasound markets with a higher performance, lower cost device, has been created".
The Roomberg Consulting Group has signed a distribution agreement with Longport, Inc. to sell the Longport Digital Scanner in North America. If certain sales goals are met over the next year, the Roomberg Consulting Group will become an exclusive sales distributor for the Longport Digital Scanner into Wound Care market.
The Company has obtained funding for the production of the next group of scanner boards and probes.
For further information please contact Longport at 1-800-289-6863 or visit our web site at www.longportinc.com
Forward-looking Information and the Private Securities Litigation Reform Act of 1995
Certain statements in this press release, including statements concerning product development milestones and anticipated events, are "forward-looking statements" within the Private Litigation Reform Act of 1995.
Forward Looking Statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements.
The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.
Factors that could affect Longport's actual results include, among others, uncertainties as to the Company's ability to manage potential problems, delays or anticipated expenses, including problems, delays or expenses involving manufacturing. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only to the date of this release.
Reference is made to Longport's 2001 annual report on Form 10-K filed with the Securities and Exchange Commission for a more definitive description of such factors. Longport, Inc. undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.