GREENVILLE, S.C., May 15 Signalife-appoints
GREENVILLE, S.C., May 15 /PRNewswire-FirstCall/ -- Signalife, Inc.
(Amex: SGN) has announced that it has appointed Mr. Lee B. Ehrlichman to the
company's board of directors on May 10, 2008, and as the company's Director of
Operations. Mr. Ehrlichman, who pioneered outpatient realtime cardiac
telemetry technology and call center monitoring as CEO and President of
Cardiac Telecom Corporation, will oversee all company operations as the
company's Operations Director, a consulting position, including monitoring all
production activities and ensuring timely deliveries of product, and
overseeing regulatory and research & development activities. As Operations
Director, Mr. Ehrlichman is expected to operate out of the company's Los
Angeles offices and laboratory facilities on a full-time basis. Mr.
Ehrlichman, who has extensive experience in product marketing and sales, will
also take a lead role in company sales, both in the remote cardiac monitoring
market as well as traditional ECG markets. Mr. Ehrlichman commenced consulting
for the company on May 5, 2008, and it is anticipated that Mr. Ehrlichman will
transition to a senior executive level position after a trial period.
Mr. Ehrlichman has extensive experience not only as a chief executive
officer and a sales and marketing executive, but also in the cardiac business
in which Signalife competes. From August 1995 until July 2007, Mr. Ehrlichman
was Chairman, Chief Executive Officer and President of Cardiac Telecom
Corporation, a pioneer of outpatient real-time cardiac telemetry technology
and call center monitoring. In that capacity, Mr. Ehrlichman oversaw both the
development and commercialization of ECG devices and the heart monitoring
business, growing revenues by 500%; developing and executing FDA strategy,
including leading clinical trials and obtaining FDA 510(k) clearance in
minimal time; leading the rollout of product into the marketplace with
successful patient applications to physicians on a nationwide basis (AFib,
post-CABG, Drug Titration, Syncope, and Pediatrics); overseeing product
manufacturing functions; and negotiating with Medicare and other insurers (at
medical director level) to write specific reimbursement policies for Cardiac
Telecom's a new technology, which led to reimbursement and cash flow.
Prior to that position, Mr. Ehrlichman was Chairman, Chief Executive
Officer and President of Tartan, Inc., a defense industry-oriented embedded
systems software tools company, from January 1990 to June 1995. While at
Tartan, Mr. Ehrlichman reversed ten years of consecutive losses into
profitability in his first year; grew company revenues from $1.5 million to
$10 million while self funding diversification into new markets; created a
highly effective management team which consistently met or exceeded company
goals by recruiting several senior level executives in Sales, Marketing and
Engineering (many of these executives are now successful CEOs of technology
companies); diversified into embedded Digital Signal Processor markets
(military and commercial), which resulted in revenue increases of more than
300% over the first three years; and developed profitable business
relationships with top semiconductor manufacturers at senior levels.
Earlier in his career, Mr. Ehrlichman was also Vice President of Sales of
Alsys, Inc. for five years, and held various progressive positions in sales,
sales management, marketing and marketing management, including Marketing
Manager of the Japanese Business Development Group, of Data General
Corporation for seven years.
On January 7, 2008, Signalife received a deficiency letter from the
American Stock Exchange ("AMEX") pursuant to which it advised that Signalife
would need to comply with AMEX's $6 million stockholders' equity threshold
required for continued listing under AMEX Rule 1003(a)(iii). This notification
was triggered by the decline of Signalife's market capitalization to less than
$50 million, which previously exempted Signalife from meeting the minimum
stockholders' equity requirement. In response to the letter, Signalife
submitted to AMEX for its review and acceptance a plan to bring the company
into compliance with the aforesaid stockholders' equity requirement. On March
20, 2008, AMEX notified Signalife that it accepted the company's plan of
compliance and granted the company an extension until May 7, 2009 to regain
compliance with the aforesaid stockholders' equity requirement. On May 14,
2008, Signalife received a second deficiency letter from the American Stock
Exchange ("AMEX") pursuant to which it advised that Signalife would also need
to comply with AMEX's $4 million stockholders' equity threshold required for
continued listing under AMEX Rule 1003(a)(ii). In that letter, AMEX advised
Signalife that should it desire to do so, the company could supplement its
pending plan of compliance to address this new deficiency. Signalife believes
that its pending plan of compliance will have equal applicability to the new
deficiency cited, and has notified AMEX that it will be supplementing its
pending plan of compliance to address this new issue. No guarantee can be
given that AMEX will accept the plan as supplemented or that Signalife will be
able to so increase its stockholders' equity to the $4 million threshold
within the period stipulated by AMEX, either of which would lead to a
delisting of Signalife's common shares from the AMEX market.
About Signalife
Signalife, Inc. is a life sciences company focused on the monitoring,
detection and prevention of disease through continuous biomedical signal
monitoring. Signalife uses its patented signal technology to design and
develop medical devices, therapies and/or technologies that simplify and
reduce the costs of cardiovascular disease.
Signalife, Inc. is traded on the American Stock Exchange under the symbol
SGN. More information is located at www.signalife.com. Clear Data. Trusted
Results.
Caution Regarding Forward-Looking Statements
Statements in this release that are not strictly historical are
"forward-looking" statements. Forward-looking statements involve known and
unknown risks, which may cause Signalife's actual results in the future to
differ materially from expected results. Factors which could cause or
contribute to such differences include, but are not limited to, failure to
complete the development and introduction of heart monitoring and other
biomedical devices incorporating Signalife's technology procure market
acceptance for these products, failure to obtain federal or state or
governmental or international regulatory approvals governing heart monitoring
and other biomedical devices incorporating Signalife's technology, failure to
obtain import and export capabilities in the various countries containing
buyers and resellers and hospitals and clinics and doctors for the Signalife
devices, inability to obtain physician, patient or insurance acceptance of for
heart monitoring and other biomedical incorporating Signalife's technology,
and the unavailability of financing to complete management's plans and
objectives, including the development of heart monitoring and other biomedical
incorporating Signalife's technology. These risks are qualified in their
entirety by cautionary language and risk factors set forth and to be further
described in Signalife's filings with the Securities and Exchange Commission.
SOURCE Signalife, Inc.
