Wednesday January 20, 8:59 am Eastern Time
Company Press Release
SOURCE: National Boston Medical, Inc.
National Boston Medical Inc. Realigns
Management
TAUNTON, Mass., Jan. 20 /PRNewswire/ -- National Boston Medical, Inc. (OTC Bulletin Board:
NBMX - news) today announced that its Board of Directors has voted to reinstate founder and former
CEO Daniel Hoyng as Chairman of the Board and co-Chief Executive Officer. W. Thomas Collins, interim
CEO since December 2, 1998, will remain at NBMX as co-Chief Executive Officer.
In addition, the Board authorized the NBMX's Executive team to execute a reorganization of the Company's
management and corporate structure. Management changes, which are effective immediately, include the
appointment of Victor Bianchi as President, Bontempi Medical; Ernie Zavoral, President, Flex Marketing;
Ray Volpe, President, OTC Products; and Robert Barlett, President, Fragrance Express. Other
restructuring actions include a planned reduction of overhead and other costs, which should substantially
lower the Company's operating expenses.
Thomas Collins, co-Chief Executive Officer, commented, ''We are encouraged by the steps our Board has
taken to strengthen management and streamline the Company's internal operations. We will be taking a very
hard line on expense levels throughout fiscal 1999, in an effort to significantly improve the Company's
operating margins.''
National Boston Medical also plans increased utilization of The World Wide Web and E-Commerce to
increase customer service and sales. The Company will begin a year-long campaign aimed at positioning
itself as a recognized leader in surgical and dental instrument sales, via the Internet, with its Bontempi Line
and Infection Control Products.
In a related announcement, National Boston Medical has formed a search committee to hire a Chief
Financial Officer. The Company is committed to filing its Form 10 to become a fully reporting company, and
has set a target date of March 1, 1999, to file with the SEC. As part of this process, complete audited
financial statements through calendar year 1999 will be available.
National Boston Medical, Inc. distributes, manufactures and designs infection-reducing medical and dental
instruments and personal care products engineered to enhance public health and hygiene. Their products
include Safeshield(TM) antimicrobial skin protectant cream and the Bontempi line of surgical and dental
instruments.
The statements in this release regarding future results of operations are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the
expectations reflected in such forward-looking statements are based on reliable assumptions, it can give no
assurance that its expectations will be obtained. Factors that could cause actual results to differ materially
from the Company's expectations include industry conditions, acceptance and demand for the Company's
products and success of the Company's marketing efforts. These forward-looking statements speak only as
of the date hereof. The Company disclaims any intent or obligation to update these forward-looking
statements.
SOURCE: National Boston Medical, Inc. |
