CULVER CITY, Calif., July 12, 2001 (PRIMEZONE) -- Careside, Inc. (AMEX:CSA), a provider of point-of-care blood analysis instrumentation and records management today announced that it has appointed Bruce C. Vladeck, Ph.D., 51, as a Director, increasing the size of the Board to seven members, six of which are independent directors. Dr. Vladeck, the former Administrator of the Health Care Financing Administration (HCFA) of the U.S. Department of Health and Human Services, currently serves as Senior Vice President for Policy of Mount Sinai NYU Health and Director of the Institute for Medicare Practice and Professor of Health Policy and Geriatrics at the Mount Sinai School of Medicine.
Careside Chairman and CEO Vick Stoughton said, "We enthusiastically welcome Bruce's addition to our Board of Directors. He is a nationally recognized expert on health care policy, health care financing and long-term care who is well connected within all sectors of the healthcare industry. Also, our expanded commitment to establishing strategic alliances will benefit from the addition of Bruce to the team. We look forward to his contributions as a member of our Board."
Dr. Vladeck has played a central role in the formulation and enactment of the Medicare, Medicaid and Child Health provisions of the Balanced Budget Act of 1997. Prior to that, Dr. Vladeck served 10 years as President of the United Hospital Fund of New York. He has held positions on the faculty of Columbia University, at the Robert Wood Johnson Foundation, and as Assistant Commissioner for Health Planning and Resources Development of the New Jersey State Department of Health. He currently serves as a director of a number of non-profit and for-profit organizations.
Elected in 1986, Dr. Vladeck chaired the Committee on Health Care for Homeless People at the Institute of Medicine of the National Academy of Sciences and has published widely, perhaps notably in his book, Unloving Care: The Nursing Home Tragedy (Basic Books: 1980).
Dr. Valdeck received his B.A., magna cum laude, from Harvard College, and an M.A. and Ph.D. in Political Science from the University of Michigan. Dr. Vladeck resides in New York City with his family.
Careside, Inc. markets a proprietary blood testing system including its Careside Analyzer, a companion hematology system called the H-2000 Hematology Analyzer, and its Careside Connect record management system linking the two devices into customers' laboratory or patient information systems. The Careside Analyzer provides a cost-effective and efficient means of measuring blood chemistry, electrochemistry, and coagulation function at the patient's point-of-care by producing accurate test results within 15 minutes. Careside, Inc. is one of the world's leading developers of advanced point-of-care blood testing technology. For more information on the Company, call (888) 698-2273 or access www.careside.com.
Safe Harbor: Statements in this press release regarding Careside, Inc. which are not historical facts are forward-looking statements that involve risks and uncertainties. Key factors which may impact these statements include challenges inherent in product research, development, manufacturing and marketing, and the other factors discussed in the Company's prospectus filed October 2000. All such factors could cause actual results to differ materially from those presented in or suggested by such forward-looking statements. The Company undertakes no obligation to update forward-looking statements. Please see the risk factors listed from time to time in the Company's prospectus and reports on file with the Securities Exchange Commission.