BURLINGTON, Mass., Nov. 1 /PRNewswire-FirstCall/ --
Palomar Medical Technologies Inc (Nasdaq: PMTI) announced today that Paul S.
Weiner has been promoted to the office of Palomar's Chief Financial Officer
from the position of Vice President and Treasurer.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000308/PMTILOGO )
Mr. Weiner joined the Company in August 1995. Mr. Weiner has been
responsible for the treasury functions, finance, cash management, investor
relations, risk management, strategic planning, human resources and
administration. Mr. Weiner was also strategically involved in restructuring
the Company over the past few years. From 1989 to 1994, Mr. Weiner was the
Chief Financial Officer for an environmental consulting company and had
previously worked in public accounting. Currently, Mr. Weiner serves as a
member of the Financial Executive Institute, the National Investor Relations
Institute, the American Institute of Certified Public Accountants and the
Massachusetts Society of Certified Public Accountants.
Chief Executive Officer Joseph P. Caruso commented, "At the Board of
Director's meeting held last week, the Board of Directors promoted Paul to the
office of Chief Financial Officer. The Board of Directors has recognized
Paul's tremendous contribution at Palomar and his ability to run all of the
finance, investor relations and administration of the company. Paul's strong
background in finance and extensive knowledge of this industry makes him
uniquely qualified for his new responsibilities. Paul has been instrumental
in the turnaround of this company and has been a leading contributor in
developing the focus and direction of Palomar over the past few years."
Mr. Weiner commented, "I am honored to be promoted to the position of
Chief Financial Officer. Palomar is focused on capturing a significant share
of today's cosmetic light-based market. Our innovative product lines, ramp up
in sales over the past year and profitability and positive cash flow over the
previous two quarters confirms that our strategy for and investment in new
products research will allow us to maintain our technology leadership
position. As previously mentioned in the third quarter financial results
press release and conference call last week, we are now in the process of
scheduling meetings, starting as early as next week, with various institutions
and funds to create an increased following within the investment community.
We are also in the process of developing proprietary technology with explosive
growth potential in untapped markets."
About Palomar Medical Technologies Inc: Palomar is a leading researcher
and developer of light (both laser and lamp) based systems for hair removal
and other cosmetic treatments and is the first company to obtain clearance
from the FDA for "permanent hair reduction." Palomar systems have been
installed in practices worldwide, and hundreds of thousands of treatments have
been performed. New and exciting indications are being tested to further
advance the hair removal market and other cosmetic applications including fat
reduction, acne treatment and skin rejuvenation.
For more information on Palomar and its products, visit Palomar's website
at http://www.palmed.com. To continue receiving the most up-to-date information and
latest news on Palomar as it happens, sign up to receive automatic e-mail
alerts by going to the E-mail Alerts page in the Investor Relations' section
of the website.
With the exception of the historical information contained in this
release, the matters described herein contain forward-looking statements,
including but not limited to statements relating to new markets, development
and introduction of new products, and financial projections that involve risk
and uncertainties that may individually or mutually impact the matters herein,
and cause actual results, events and performance to differ materially from
such forward-looking statements. These risk factors include, but are not
limited to, results of future operations, technological difficulties in
developing or introducing new products, the results of future research, lack
of product demand and market acceptance for current and future products, the
effect of economic conditions, the impact of competitive products and pricing,
governmental regulations with respect to medical devices, including whether
FDA clearance will be obtained for future products, the results of litigation,
potential infringement of third-party intellectual property rights, and/or
other factors, which are detailed from time to time in the Company's SEC
reports, including the report on Form 10-K for the year ended December 31,
2001 and the Company's quarterly reports on Form 10-Q. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to release
publicly the result of any revisions to these forward-looking statements that
may be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Contacts:
Paul S. Weiner
Palomar Medical Technologies Inc
781-993-2411
ir@palmed.com
SOURCE Palomar Medical Technologies Inc
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Related links:
http://www.palmed.com
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PRN Photo Desk, 888-776-6555 or 212-782-2840
Company News On-Call:
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CONTACT:
Paul S. Weiner of Palomar Medical
Technologies Inc, +1-781-993- 2411, ir@palmed.com
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