WESTBURY, N.Y.--(BUSINESS WIRE)--Vasomedical, Inc. (OTC: VASO), a diversified medical technology company specializing in the design, manufacture and sale of medical devices and in the domestic sale of diagnostic imaging products, today announced the appointment of Randy Hill as Senior Vice President of Vasomedical and Chief Executive Officer of Vaso Diagnostics, Inc. d/b/a/ VasoHealthcare, a wholly owned subsidiary of Vasomedical, effective July 30, 2012. VasoHealthcare is the exclusive representative for the sale of select GE Healthcare Diagnostic Imaging products to specific market segments in the 48 contiguous states of the United States and the District of Columbia. GE Healthcare is the healthcare business of General Electric Company (NYSE:GE).
A veteran in the medical device industry, Mr. Hill was, until May 2011, interim Chief Executive Officer of Siemens Healthcare USA, the U.S. organization of the healthcare sector of Siemens AG (NYSE:SI), a German multinational conglomerate, where he was responsible for sales, marketing, service, and logistics across the Siemens Healthcare portfolio, including medical imaging equipment, healthcare information technology and medical therapy. For several years prior to that, Mr. Hill was Chief Operating Officer of Siemens Healthcare USA, responsible for setting and implementing national strategies to sell Siemens products and services, and achieving synchronization across Siemens Healthcare’s U.S. Business Management and Solutions Implementation teams. In addition to his career at Siemens Healthcare spanning several decades in a wide range of roles with many different responsibilities, Randy, as a recognized leader in the medical imaging business, is also former Chair of the Board of Medical Imaging & Technology Alliance (MITA), the leading organization and collective voice of medical imaging equipment manufacturers, innovators, and product developers, representing companies whose sales comprise more than 90 percent of the global market for medical imaging technology.
“Alternative sales channels are an effective sales strategy for any national or global manufacturer to achieve broad and sustainable success, and VasoHealthcare is a leading organization that has excelled in this field with a great performance track record,” commented Mr. Hill upon accepting the position. “I am very excited about joining the leadership at Vasomedical and leading an exceptional team of sales professionals at VasoHealthcare. I look forward to working with this young, energetic team towards growing the relationship with GE Healthcare to better serve our customers.”
Welcoming Mr. Hill to Vasomedical and VasoHealthcare, Dr. Jun Ma, President and CEO of Vasomedical, stated, “We are thrilled to have such a successful industry leader like Randy Hill as part of our leadership team. Randy’s in-depth knowledge of the diagnostic imaging business and broad understanding of the medical device industry will be an invaluable asset to VasoHealthcare and Vasomedical. I look forward to his advice in many aspects of our business and am confident that he will play a significant role in further development of our company to achieve its full potential.”
Vasomedical, Inc. is a diversified medical technology company specializing in the manufacture and sale of medical devices and in the domestic sale of diagnostic imaging products. The Company operates through three wholly-owned subsidiaries. Vasomedical Solutions manages and coordinates the design, manufacture and sales of EECP® therapy systems, its core product, as well as other medical equipment operations; Vasomedical Global operates the Company’s China-based subsidiaries; and Vaso Diagnostics, d/b/a VasoHealthcare, is the operating subsidiary for the sales representation of GE Healthcare diagnostic imaging products. Additional information is available on the Company's website at www.vasomedical.com.
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “plans”, “potential” and “intends” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the effect of the dramatic changes taking place in the healthcare environment; the impact of competitive procedures and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in the conduct of clinical trials and other product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; uncertainties about the acceptance of a novel therapeutic modality by the medical community; continuation of the GEHC agreement; and the risk factors reported from time to time in the Company’s SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.