ST. PETERSBURG, Fla.--(BUSINESS WIRE)--May 30, 2002--Nutraceutical Clinical Laboratories International, Inc. (OTCBB:NCCL) today announced that it has realigned the structure of its company into two operating units: a Preservative Division and a Medical Division.
Mr. Emery Ellinger has been appointed President and Chief Operating Officer of the Preservative Division. Prior to joining the Company in August 2001, Mr. Ellinger was the President of EGrowth Capital, a firm that assisted high growth companies in finance, operations and strategy. The Preservative Division will focus on marketing and manufacturing NuPreserv(TM), a natural preservative which extends the shelf life of foods and beverages. NuPreserv(TM) provides manufacturers an alternative to replace chemical inhibitors in food and beverage products.
Dr. Richard Goldfarb, a Board Certified Fellow in the American College of Surgeons and a member of the Company's board of directors, has been appointed President and Chief Operating Officer of the Medical Division. Dr. Goldfarb joined the Company in September 2001. The Medical Division will focus on development and marketing of products in the areas of surgical instrumentation, medical disinfection and the medical application of the Company's preservative products as well as manufacturing and distribution of nutraceutical products of Health Care Direct Services, Inc., a wholly-owned subsidiary of the company.
"By organizing the company into two distinct operating units, we will have a single focus for each unique marketplace," said Gary L. Harrison, the Company's recently appointed Chairman and Chief Executive Officer. Prior to joining NCLII, Harrison served as President and Chief Operating Officer of Mrs. Smith's Bakeries, the frozen and specialty baking operations for Flowers Foods (NYSE:FLO).
Nutraceutical Clinical Laboratories International, Inc. trades on the OTC market under the symbol "NCCL" and can be found on the Internet at: nasdaq.com, cnbc.com, pinksheets.com, and otcquote.com. Additional Company Information may be found at Nutraceutical Clinical Laboratories International, Inc.'s web site: http://www.nutradata.com.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements, other than historical facts, included in the foregoing news release regarding the Company's business strategy and plans of management for future operations are "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements, which include, but are not limited to, words such as "expect," "anticipate," "plan," "estimate," "project" and "intend" are based on management's beliefs and assumptions, and on information currently available to management. Forward-looking statements involve certain known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These factors include, among others, the Company's ability to successfully implement its business plan; any uncertainties relating to business and economic conditions in markets in which the Company operates; any uncertainties relating to customer plans and commitments; the timely development and market acceptance of the Company's products and technologies; possible product defects and product liability, dependence on intellectual property rights, the highly competitive environment in which the Company operates and other risks detailed from time to time in the Company's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.