LOS ANGELES, Nov 10, 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 Morris Shriftman, a leading industry expert, as Executive Vice President -- Marketing.
"Morris is one of the premiere marketing executives in the natural food and supplement industry and we are very excited to have him on board," said Fred E. Tannous, Co-chairman and Chief Executive Officer of Health Sciences Group. "His extensive experience managing all aspects of marketing and branding is a significant asset to us and we look forward to his marketing leadership to help expand our presence in the industry as we enter this new phase of our company's growth."
"I'm very pleased to be part of the Health Sciences management team," said Mr. Shriftman. "This is an exciting opportunity to help drive continued success based on a timely vision and a business model that clearly works. As consumers shift their focus to healthy foods, alternative medicine, and functional foods, it becomes increasingly important for companies in our industry to differentiate themselves with efficacious products, proper branding, and market positioning as they strive to establish a positive consumer response. I see tremendous growth opportunities ahead for Health Sciences Group and look forward to helping to lead these efforts."
Mr. Shriftman is a recognized leader in the natural/organic food and supplement industry for over 25 years. Since 1985, he's been at the helm of his own marketing, communications and branding agency where he has helped many leading companies in the industry with marketing, branding, and establishing creative supply-chain solutions. Some of his clients include Whole Foods Markets (Nasdaq:WMFI), Horizon Organic Dairy, a subsidiary of Dean Foods (NYSE:DF), Smucker Quality Beverages (NYSE:SJM), United Natural Foods (Nasdaq:UNFI), and Traditional Medicinals. Among his many accomplishments, Mr. Shriftman, as Vice President Marketing, was instrumental in launching and growing the sales of privately-held Tree of Life. During his tenure, in addition to establishing the company's new image through the creation of a new logo, attractive catalogs and compelling marketing literature, he launched the Tree of Life brand of private-label products which has become one of the largest brands in the industry. He created and implemented the company's first distribution program for natural foods into nearly every major supermarket chain on the East coast. Today, Tree of Life generates approximately $800 million in annual sales.
Mr. Shriftman is currently a director of the American Botanical Council, the premier research and educational organization for herbal medicine, and the Association of Independent Natural Retailers. He has served on the boards of Whole Foods, a health food retailer; Traditional Medicinals, a manufacturer of medicinal herbal teas; and Food for Health, a distributor of natural and organic products. Mr. Shriftman was awarded an M.A. degree from New York University and a B.S. degree from Cornell University School of Industrial and Labor Relations.
"We're extremely honored to have Morris as part of our management team," said Bill Glaser, Co-chairman and President of Health Sciences Group. "For more than two decades, Morris has assisted numerous companies to significantly expand their product offerings and tap into new markets -- he is well known in our industry and brings many resources and relationships which can be invaluable to us as we expand our business."
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 XCEL Healthcare division is a fully licensed, specialty compounding pharmacy delivering full service pharmacology solutions to customers with chronic ailments that require long-term therapy; and its BioSelect Innovations division 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.