Health Discovery Corp (HDVY)

[Degreed]

NEWS interesting!!!!

http://finance.yahoo.com/news/Health-Discovery-Corporation-bw-3232274468.html?x=0&.v=1

SAVANNAH, Ga.--(BUSINESS WIRE)--Health Discovery Corporation (OTCBB: HDVY - News) is pleased to announce that the Company has appointed Thomas Gallagher as Executive Vice President and Managing Director of Global IP Strategies, charged with executing new revenue-producing licensing and development relationships in the non-healthcare and high tech industries thereby significantly expanding upon HDC’s focus in the healthcare and personalized medicine arena.

Gallagher spent close to fifteen years on Wall Street as a securities and business transaction lawyer, as well as an assistant general counsel managing risk on a transaction and policy basis for a then-$9 billion publicly traded company. He went on to become a Vice President at Goldman, Sachs & Co. (NYSE: GS - News), New York, NY, where he helped lead the restricted stock desk on the equity trading floor. Gallagher pioneered the use of 10b5-1 selling plans, working with CEOs and other corporate executives to manage their large, single stock risk. He also assisted numerous companies in strategic buy backs of their stock. Subsequently, Gallagher was a member of an investment management team at Goldman Sachs that advised clients with approximately $1.5 billion in assets.

The Company has just completed a call of a significant number of its outstanding warrants, and retired all of its secured debt prior to its due date. “The Company is now financially well positioned to build upon our products and successes in healthcare and personalized medicine by expanding into non-healthcare and high tech arenas,” said Dr. Barnhill. “Included in the 38 issued patents and 32 pending patents owned by HDC are 11 issued patents and 6 pending patents that have broad claims encompassing the non-healthcare and high technology arenas.”

Dr. Barnhill continued, “Tom’s legal, capital markets and business development and transaction experience are exactly what Health Discovery Corporation needs at this time in its growth cycle to create additional new revenue streams by expanding the license and development advantages in our patent portfolio to include the substantial and significant business opportunities in the non-healthcare and high technology arenas.”

“Given the quality of people assembled by Dr. Barnhill, HDC’s pioneering technology, pipeline of products and substantial intellectual property portfolio, I’m excited about joining the team at Health Discovery Corporation,” said Gallagher. “My mission is to immediately begin generating revenue-producing licensing and development relationships in the non-healthcare and high tech industries. My initial focus will be on those technologies that integrate the Company’s SVM and RFE-SVM technology into very sophisticated pattern recognition platforms. The Company’s SVM technology and applications are pivotal in the fields of Internet search engines, spam email detection, oil exploration, homeland security and law enforcement, including biometrics and crime hot-spot prediction, risk management, industrial control and fault detection, as well as vehicle-related applications, including vehicle recognition, vehicle sensor monitoring, obstacle detection, motor vehicle accident prediction, and load balancing for electric vehicle batteries, among countless others applications,” said Gallagher.

In healthcare and personalized medicine, the Company has entered into royalty-bearing licenses which include those for its new urine-based prostate cancer test with Quest Diagnostics Incorporated (NYSE: DGX - News) and Abbott Laboratories (NYSE: ABT - News) for development and commercialization. Health Discovery Corporation’s patented SVM technology, for which Vermillion, Inc. (Other OTC: VRMLQ.PK - News) was granted a limited license, played a role in the creation of a new ovarian cancer test recently approved by the Food and Drug Administration, which is expected to be commercialized by Quest Diagnostics Incorporated (NYSE: DGX - News).