LOS ANGELES, Dec 8, 2003 -- Health Sciences Group, Inc. (OTCBB:HESG), an integrated provider of innovative products and services to the nutraceutical, pharmaceutical, and cosmeceutical industries, announced today the hiring of Jeffrey Klar as Chief Operating Officer of its Quality Botanical Ingredients (QBI) division.
"Jeff brings leadership, experience, an unmatched passion for excellence, and a demonstrated track record of success to this position," said Fred E. Tannous, Co-Chairman & CEO of Health Sciences Group, Inc. "During his career, Jeff has demonstrated the type of creativity, vitality, knowledge and management skills that make him the ideal chief operator for QBI. We welcome him to the team."
Mr. Klar has over 15 years of management experience in the chemical, food and direct marketing industries. He is a seasoned executive with experience in all facets of the day-to-day operations of manufacturing businesses including executive management, production, sales and marketing and finance. Previously he served as Chief Financial Officer of Love and Quiches Desserts, a leading supplier of desserts to the food service industry. Previously, he spent twelve years working for Ulano Corporation, an international manufacturer and distributor of specialty films and chemicals, where he rose to the position of Vice President, Operations and Finance, responsible for all operational and financial aspects of the business. Mr. Klar was awarded an MBA degree from New York University and a Bachelors degree in Economics from City University of New York.
"I am excited about joining QBI and working to build a company that is on the verge of explosive growth," said Mr. Klar. "Health Sciences Group understands the unique challenges firms within the industry face today and has assembled a talented team of business professionals to help improve and expand the operations to meet those challenges. I look forward to working with QBI and the Health Sciences team and contributing to the company's continued growth."
About Health Sciences Group, Inc.
Health Sciences Group, Inc., is an integrated provider of innovative products and services in the nutraceutical, pharmaceutical, and cosmeceutical industries offering value-added ingredients, bioactive formulations, and proprietary technologies used in nutritional supplements, functional foods and beverages, and skin care products. Its largest division is Quality Botanical Ingredients (QBI), a leading manufacturer, contract processor and supplier of bulk botanical materials and nutritional ingredients to the food, nutraceutical, pharmaceutical, cosmetic and pet food industries. QBI processes more than 500 herbs, dried fruits and vegetables, nutraceuticals and an extensive selection of concentrated herbal extracts, as well as standardized herbal extracts of guaranteed potency, in addition to various bioflavonoids, antioxidants and beehive products. In business for 20 years, QBI uses cryogenic (cold) processing at its New Jersey facility, and operates in accordance with voluntary food safety guidelines (called Good Manufacturing Practices) originally published by the U.S. Food & Drug Administration in 1997.
Its other divisions include XCEL Healthcare, a fully licensed, specialty compounding pharmacy delivering full service pharmacology solutions to customers with chronic ailments that require long-term therapy; and BioSelect Innovations, which develops and sells innovative, science-based products based on proprietary technologies in the areas of topical/transdermal drug delivery, cosmeceuticals, and integrative medicine to a global network of customers who manufacture and distribute compounded pharmaceuticals, functional foods, skin care products and cosmetics. For more information, visit www.HealthSciencesGroup.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, the independent authority of the special committee to act on the matters discussed, the successful negotiation of the potential acquisition and disposal of transactions described above, successful implementation of the company's business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission.