Prime Medical Services, Inc. Chairman Receives Entrepreneur of the Year Award
Tuesday July 15 12:50 PM EDT
Company Press Release
AUSTIN, Texas--(BUSINESS WIRE)--July 15, 1997--Prime Medical Services, Inc. (Nasdaq/NM:PMSI) announced today
that Chairman Kenneth S. Shifrin received the 1997 Entrepreneur of the Year award for the ``Services'' category at the 1997
Ernst & Young Entrepreneur of the Year Banquet in Austin, Texas on July 10.
Shifrin was honored for his success in the turnaround of Prime since he took the helm in late 1989 following several years of
losses. Since that time, Shifrin has led the metamorphosis of the company into the leading provider of lithotripsy services in
the country with revenues in excess of $72,000,000 and $9,000,000 in profit in 1996. For the first quarter of 1997, Prime
reported a 189% increase in revenues and 51% increase in net income when compared to the prior year. ``Prime is continuing
to grow rapidly by capitalizing on its relationships with 25% of the nation's urologists, now totaling over 2,000. Offering
additional services to these urologists, such as prostatherapy treatment for benign prostatic hyperplasia'', said Shifrin, ``is the
first step towards our goal of becoming the ''The Urologist Company.`` |
