Leading Medical Device / Life Science / Healthcare Veteran Joel Kanter Joins Board of Directors of CVR Medical
Denver, North Carolina--(Newsfile Corp. - October 15, 2018) - CVR Medical Corp. (CVM.V) (TSXV: CVM) (OTCQB: CRRVF) ("CVR Medical") a Canadian listed and US based healthcare company in the medical device sector announces that Mr. Joel Kanter has joined the Board of Directors. Mr. Kanter has served as President of Windy City, Inc. a privately held investment firm since July 1986. Mr. Kanter, is a veteran healthcare venture capitalist whose family office has financially backed numerous medical device, life science and healthcare companies throughout his 35-year career. Mr. Kanter has helped create billions in shareholder value, most notably; I-Flow which in 2009 was acquired by Kimberly-Clark for $324M, Clarisonic which in 2011 was acquired by L'Oréal for $525M, Prolor BioSciences which was acquired by OPKO Health in 2013 for USD $480M, Encore Medical which was acquired in 2006 by Blackstone for $860M, GranCare which in 1999 completed a $1.8B merger with Living Centers of America led by Apollo Management and Walnut Financial where he was Chief Executive Officer which was acquired in a transaction with Tower Hill Capital which resulted in an increase of $400M in shareholder value in 1999.
Mr. Kanter currently serves on the Board of Directors of two public companies including Magna-Labs, Inc. and MEDITE Cancer Diagnostics, Inc. and also serves on the Boards of several private concerns including Fibralign Corporation, First Wave Technologies, Orpheus Biosciences, Inc., Primal Therapies, Inc., and Serpin Pharma.
Mr. Kanter is also a current Trustee Emeritus and past President of the Board of Trustees of The Langley School in McLean, Virginia, a former Trustee at the Georgetown Day School in Washington, D.C., and of the Union Institute & University, the Country's first Online University. He is also the current Board Chair of the Black Student Fund, and serves on the Kennedy Center's National Committee on the Performing Arts.
Peter Bakema, Chairman and CEO of CVR Medical, states, "We are thrilled to welcome Joel to our Board of Directors and to have his rare breadth of experience and knowledge going forward. His track record of investment and acquisition success speaks to a visionary quality that we strive for at CVR. His involvement in moving our Carotid Stenotic Scan (CSS) device to market is another confident step towards providing a solution for a major sector of the healthcare industry beset with high costs and access barriers."
About CVR Medical
CVR Medical Corp. is a healthcare company that operates in the medical device industry focused on the commercialization of its disruptive, proprietary Carotid Stenotic Scan (CSS). The CSS is a diagnostic tool that encompasses subsonic, infrasonic, and low frequency sound wave analysis technology. The CSS is a patented device designed to detect and measure carotid arterial stenosis. CVR is currently in pivotal clinical trials in preparation for its planned submission to the FDA. CVR is led by an experienced and proven team of professionals with extensive healthcare, medical device, international expansion, regulatory and sales experience. CVR Medical trades on the TSX Venture Exchange under the symbol "CVM" and on the OTCQX under the symbol "CRRVF". Additional information regarding the Company can be found in our recent filings with the SEDAR as well as the information maintained on our website at www.cvrmed.com
ON BEHALF OF THE BOARD:
(signed) "Peter Bakema"
CEO, President & Director
For further information contact:
Peter Bakema, CEO, President and Director
Marc S. Lubow.
Vice President Capital Markets, Director / Investor Relations
(904) — 923 - 4037
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Joint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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