FORT WORTH, TX - (ACCESSWIRE - October 22, 2013) - Wound Management Technologies, Inc. (OTCQB: WNDM) and Brookhaven Medical, Inc. have entered into the additional loan agreement contemplated in the letter of intent announced on October 15, 2013. This additional loan is a draw down note which gives Wound Technologies working capital as the parties work towards their merger agreement, and anticipated formal merger, which is expected to close in the first half of 2014.
As a result, Wound Management has expanded its executive team in order to better execute its strategic plan. Effective immediately, Company Board member and former Company President, Deborah J. Hutchinson has been appointed President of the Company. Jennifer Taylor, who has been extensively involved in new CellerateRX[R] initiatives, is the Company's new Director of Marketing and Business Development. They join Kenneth Snider who recently became the Company's Executive Vice President of Sales.
"Expanding our executive team is an important step forward for Wound Management, as we work with Brookhaven and WellDyne Health to grow our company," stated Robert Lutz, Jr., Chairman and CEO. "Each person has extensive knowledge of our products and industry and adds unique talents to our leadership team. We expect to announce many exciting new initiatives in upcoming months."
Deborah Hutchison has been a member of the Company's Board of Directors since May 2010 and was the Company's President from January 12, 2010 until March 20, 2012. Deborah's career with over 30 years experience in the healthcare and technology sectors is highlighted with a track record in successfully taking early development healthcare, technology and biotech companies from concept through product development and sales. Hutchinson also brings international business experience to WNDM, with past experience in Europe, China, the Americas, and Asia.
Jennifer Taylor, as Director of Marketing and Business Development will lead Wound Management Technologies growth and market innovation initiatives as well as marketing and communication functions. Previously she served as National Sales Director of WellDyne Health where she oversaw sales, marketing, social media and all business partnerships associated with CellerateRX and the relationship with Wound Management. Prior to this Jennifer served in a succession of roles with AstraZeneca, WellDyneRX and HealthScript. Jennifer has successfully managed large sales teams and has been recognized nationally for her performance by these organizations multiple times.
Kenneth Snider has over thirty years of professional experience in sales, sales training, sales management, and as a medical device distributorship owner. He spent over sixteen years with Pfizer, Inc. as a territory representative, Training Manager at Headquarters, and as a District Manager. He has worked with start-up medical device companies to develop medical devices from inception, through the FDA approval process to successful product launch, and sales success. Ken's distribution team has achieved top ranking nationally for surgical products.
About Wound Management
Wound Management Technologies, Inc., is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management's primary focus is the distribution of its unique, patented collagen product, CellerateRX[R], which is FDA cleared and reimbursable under Medicare Part B. Wound Management has other advanced biotech products in development including a patented resorbable bone wax line that is in the late stages of development. More information can be found on the company's web sites: http://www.wmgtech.com/ and http://www.celleraterx.com/.
Safe Harbor Statement
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
Wound Management Technologies, Inc.
777 Main Street, Suite 3100
Fort Worth, TX 76102
Phone: (817) 820-7080
SOURCE: Wound Management Technologies, Inc.