Austin Medical Technologies, Inc., Announces Addition of Joe W. Smith,
President of National Healthcare Logistics and Ex Head of Abco Medical
Distributors to Its Board of Directors
PLANO, Texas, Sep 21, 2004 (BUSINESS WIRE) -- Austin Medical Technologies, Inc.
(Pink Sheets:AMTK), announces the appointment of Mr. Joe W. Smith to the Board
of Directors of Austin Medical. Joe W. Smith joins Austin Medical and brings
valuable contacts and insight in the medical device and supply industry.
Smith is currently CEO of National Healthcare Logistics, LLC, which developed a
revolutionary logistics model for healthcare that provides a more efficient
supply chain, and cost cutting solutions in both distribution and ancillary
services. Today three centers are in operation using this logistics model moving
hundreds of millions of dollars in surgical devices and supplies. Smith has a
proven track record in reengineering the healthcare SUPPLY CHAIN, and directing
the timely and critical movement of millions of surgical devices, and supplies
necessary for daily hospital operations. Smith was formerly President and CEO of
Abco Dealers, Inc. Abco Medical Distributors consists of 55 members and over 106
distribution centers with more than 1,100 sales representatives. The value of
its members have combined sales over $1 billion.
Joe Smith states, "Austin Medical is a dynamic growth company and I like their
market strategy. Today National Healthcare Logistics does not have the ability
to provide custom sterile packs to our customers and we plan on utilizing this
vital niche product offering to our customers."
Kurt Tarter, President & CEO, states, "We look forward to Mr. Smith providing
his insight and knowledge within the industry to maintain our strong growth.
Austin Medical will leverage his industry knowledge of product distribution and
his ability to bring us a great deal of exposure. It is a real privilege to have
Joe on our Board. Mr. Smith has demonstrated a proven track record in medical
company growth and management. We will look to Mr. Smith for his industry
connections guidance and potential partnering on future business."
About Joe W. Smith
Joe W. Smith, President, National Healthcare Logistics, has more than 30 years
of experience as a leader and innovator in the healthcare supply industry. A
native of Atlanta, he is the former president and CEO of Abco Dealers, Inc. Mr.
Smith first entered the healthcare industry in 1972. To read more about Mr.
Smith's background, please click at the following link:
austinmedtech.com
About Austin Medical Technologies, Inc. /eyeDirecti(TM) (Brand)
Austin Medical Technologies delivers "DIRECT" from the manufacturer to the
Surgeon, the only technology-based, "Single Source Supply Solution" for custom
sterile surgery trays made up of 80% of all disposable surgical devices utilized
in surgery. Currently the company has contracted with 200 eye surgery centers
including the 2 largest eye surgery centers in the USA. The market for custom
sterile surgery trays is a $2.1 Billion market here in the USA.
Austin Medical is dedicated exclusively to the Ambulatory Surgery Center (ASC)
market. Ambulatory Surgery Centers (ASC), also called outpatient surgery, and
same-day surgery, refers to surgical procedures which are complex enough to
require a dedicated operating room and specially trained staff, but do not
require an overnight stay. According to 1996 U.S. government statistics,
ambulatory surgery centers account for 31 million or 44% of the total surgeries
performed in the United States. Five million surgeries were performed on eyes.
New surgical techniques such as laser surgery allow procedures to be done more
quickly and/or with less surgical trauma.
Under the brand name eyeDirecti, Austin Medical is initially focused on
Ophthalmology owned and operated surgery centers which is the fastest growing
segment of the ASC market, growing by 25% per annum, consisting of 2,500
practices with 15,000 surgeons performing over 5 million surgical procedures
annually at a supply cost of $400,000,000 per year. Austin Medical is positioned
to capture $40,000,000 (10%) of this $400,000,000 market within the next 4
years. Visit our e-commerce site at www.eyedirecti.com
SOURCE: Austin Medical Technologies, Inc.
CONTACT:
Austin Medical Technologies, Inc.
Keith Tarter, 866-821-2020
investors@austinmedtech.com
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