ONTARIO, Dec. 23, 2003 (PRIMEZONE) -- LifePoint, Inc. (AMEX:LFP), a leader in non-invasive drug diagnostic technologies and solutions, today announced that Mr. Craig S. Montesanti has joined the Company as Vice President of Finance and Chief Accounting Officer. Mr. Montesanti will oversee accounting, finance, treasury, SEC reporting and information systems. Mr. Montesanti replaces Donald Rutherford, a Tatum CFO Partner who was hired as an interim CFO, and who will continue to support LifePoint during the transition period.
Mr. Montesanti has over 20 years experience in both public and private companies in a variety of finance and accounting positions, including several medical companies, and proven expertise in start-up and rapid growth environments. From 2001, he was most recently the Vice President of Finance and Administration with Puroflow, Inc., a publicly traded manufacturer of water filtration products that was recently acquired. Prior to Puroflow, Mr. Montesanti was Director of Finance and responsible for all financial operations at Aspen Marketing Group, a privately held provider of offline and online marketing services with revenues of over $300 million. Prior to Aspen Marketing Group, Mr. Montesanti held a variety of senior finance and accounting positions at VitalCom (GE Medical Systems Information Tech) and Trikon Tech, and started his career at Ioptex Research, Inc., a manufacturer of medical devices. Mr. Montesanti has an MBA from Pepperdine University and a Bachelor of Science in Business Management/Accounting from California State Polytechnic University.
"Craig's proven track record includes major accomplishments in start-up companies, where development and implementation of critical accounting and finance support systems was instrumental in the companies' successes," stated Linda H. Masterson, CEO & President of LifePoint. "In addition, Craig has extensive expertise in strategic and business planning, which should help LifePoint better meet the challenges as we now bring our IMPACT Test system to market. Equally important is his expertise in established financial control systems in order to meet the new financial control requirements for public companies."
About LifePoint, Inc
LifePoint, Inc., a leader in non-invasive drug diagnostic technologies and solutions, has developed, manufactures and markets the IMPACT(r) Test System - a rapid diagnostic testing, screening and drug monitoring device for use in law enforcement and the workplace, and in the future, ambulances, pharmacies, and home healthcare markets. LifePoint's patented and proprietary technologies for the use of saliva as a non-invasive, blood-comparable test specimen, used in conjunction with the flow immunosensor technology licensed from the United States Navy, have allowed LifePoint to develop a broadly applicable, rapid, on-site diagnostic test system. The first product simultaneously detects drugs of abuse and alcohol. The initial three target markets - law enforcement, industrial workplace and medical emergency room - are estimated to be over $1.6 billion in total opportunity.
This press release contains forward-looking statements regarding future events and the future performance of LifePoint, Inc. that involve risks and uncertainties that could cause actual results to differ materially. Although the Company believes that the expectations reflected in any forward-looking statements made herein are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. The Company undertakes no obligation to update any forward-looking statements made to conform to actual results or to changes to expectations. These risks include, but are not limited to dependence on third parties for certain marketing efforts, FDA 510(k) clearance in medical markets, market acceptance and potential need for additional financing. These risks and others are described in further detail in the Company's reports filed with the Securities and Exchange Commission.
LifePoint(r) and IMPACT(r) are trademarks of LifePoint, Inc.