Paradigm Medical Names Raymond Cannefax President and Chief Executive Officer
The Board of Directors of Paradigm Medical Industries, Inc. (OTCBB: PMED.OB/PMEDW.OB) today named Raymond P.L. Cannefax as President and Chief Executive Officer, effective immediately. He replaces John Y.Yoon, who has left the Company to pursue other opportunities.
Mr. Cannefax, 57, previously served as Paradigm Medical's Vice-President Sales and Marketing from January 2003 to May 2005. He has 25 years experience in sales, marketing, and corporate management.
"We are pleased that Ray Cannefax has rejoined the Company," said Paradigm Medical's Board Chairman, Randall A. Mackey. "His experience in sales and marketing should be pivotal in moving the Company's proprietary products and technology for the medical industry into the global arena."
Mr. Cannefax most recently served as Vice-President--Asia/Pacific Region for Escalon Medical/SONOMED, Inc. (Lake Success, NY), a maker of ophthalmic ultrasound products.
"Returning to Paradigm Medical represents challenges and lots of opportunities," noted Mr. Cannefax. "My understanding of the medical equipment and eye-care industry and market opportunities on the global level will allow me to be instrumental in taking the Company forward via capitalizing on its strengths and with a more aggressive emphasis on organizational management, sales, marketing, and product offerings.
"Paradigm Medical is the market leader in the very specialized area of ultrasound biomicroscopy. Proper positioning of the Company's ultrasound biomicroscope (UBM) equipment and technology will allow us to expand the UBM revenues and sales base from a global perspective. The introduction of our fourth-generation UBM, the P60, has been slowed by a lack of marketing efficiencies. I believe with my leadership, the Paradigm Medical sales organization can have a very positive impact on accelerating the global acceptance of this new UBM," Mr. Cannefax added.
During his career, Mr. Cannefax has served as Vice-President Business Development, at Vernax, Inc. (Salt Lake City), a privately owned, leading supplier of products for the hospitality industry. He also served in various sales, marketing and management positions at Sprint Communications Corp. In 1994, Mr. Cannefax founded and served as President and Chief Executive Officer of Apollo Telecom, Inc., an international long-distance company, which he sold in 1996.
Paradigm Medical Industries, Inc, currently develops, manufactures and markets high-tech, proprietary diagnostic equipment and consumable products for the medical industry. The Company's corporate offices are located at 2355 South 1070 West, Salt Lake City, Utah 84119. Call (801) 977-8970 or visit us at www.paradigm-medical.com.
This press release contains statements that, if not verifiable historic fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm and its business. The predictions embodied in these statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.
Paradigm Medical Industries, Inc.
Raymond Cannefax, 801-977-8970
Source: Business Wire (January 9, 2006 - 9:25 AM EST)
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