LOS ANGELES--(BUSINESS WIRE)--March 31, 2003--Health Sciences Group, Inc. (OTCBB: HESG), an integrated provider of innovative products and services to the nutraceutical, pharmaceutical, and cosmeceutical industries, announced the appointment of Joseph Hines to the company's Advisory Board.
"Health Sciences Group has made three major acquisitions in the last 15 months, growing its revenues from zero to more than $20 million," Fred E. Tannous, Co-chairman and Chief Executive Officer said. "With more accretive acquisitions planned, and an eye toward significant internal growth, it is important for the company to have top-flight counsel on critical business matters. Joe Hines has extensive experience in corporate management, M&A, global marketing and nutraceutical/pharmaceutical/cosmeceutical product development. We view him as a valuable member of our Advisory Board."
Hines recently returned to corporate consulting after retiring from the presidency and chairmanship of Phoenix-based Zila, Inc., manufacturer and international marketer of nutraceutical, pharmaceutical and biotechnology products. Over a 19-year period, Hines built Zila from a start-up into a $73 million diversified manufacturer and international company, employing 250, before divesting one of the company's divisions last year.
Earlier, Hines had a successful management consulting business, assisting companies with start-up, growth, marketing, turn-around, merger and acquisition counseling. He also had an impressive track record in corporate management.
As Vice President of R.C. Can Company, Hines managed plastics operations as well as all marketing and public relations functions. Over the next 11 years, Hines served in key executive positions at Dart Industries, reporting to legendary corporate innovator Justin Dart. Hines was President of Dart's Styro Products Division, a plastic disposable products manufacturer with profit centers in the U.S., Canada, England and the Netherlands. He assumed the presidency of Dart's Vanda Beauty Counselor Division, a direct selling cosmetics company, where he engineered a corporate turn-around. Hines served as Executive Vice President of Dart's Chemical Group, where he was responsible for 12 operating divisions and subsidiaries in the U.S. and Europe.
"Mr. Hines' specific experience in nutraceuticals and pharmaceuticals is of particular value to our company," noted Bill Glaser, Health Sciences Group President and Co-chairman. "Earlier this month we completed the acquisition of Quality Botanical Ingredients, a leading manufacturer and processor of bulk botanical materials and nutritional ingredients with $15 million in annual revenues last year. Mr. Hines has a thorough knowledge of and extensive range of contacts in the industry segments in which we operate."
Hines joins Fred Hirt, former Chief Executive Officer of Mount Sinai Hospital in Miami, Florida, on Health Sciences Group's growing Advisory Board.
About Health Sciences Group, Inc.
Health Sciences Group, Inc., is an integrated provider of innovative products and services to 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. Subsidiaries include XCEL Healthcare, a fully licensed, specialty compounding pharmacy focused on delivering full service pharmacology solutions to customers with chronic ailments that require long-term therapy; BioSelect Innovations, which develops and sells high-margin products based on proprietary technologies in the areas of 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; and Quality Botanical Ingredients, a leading manufacturer and contract processor of bulk botanical materials and nutritional ingredients for the nutraceutical, pharmaceutical and cosmetic industries. 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.