New Management Structure Positions Company for Growth and Profitability
Los Angeles, CA, January 29, 2015 — Targeted Medical Pharma, Inc. (OTCQB: TRGM), today announced several major changes that streamline operations and signify a commitment to revenue growth, cost containment and profitability. The Company has appointed Kim Giffoni, a co-founder and former Vice President of Foreign Sales at Targeted Medical Pharma, as the Chief Executive Officer. Dr. David Silver, former Chief Operating Officer and President at the Company, has been appointed Chief Medical Officer, and Marcus Charuvastra, the Director of Marketing, takes over as Vice President of Operations and Marketing.
In addition, The Board of Directors has appointed veteran healthcare specialist Kerry Weems, as the new Chairman of the Board. Mr. Weems will be replacing Dr. William Shell, a co-founder and former Chief Executive Officer of the Company, who will remain a non-executive Director. A nationally respected expert in health policy and government finance, Mr. Weems has served with distinction in the field of healthcare, including nearly 28 years in the Federal government, as Acting Administrator of the Centers for Medicare and Medicaid Services (CMS). Mr. Weems is currently Chief Executive Officer of TwinMed, a national medical supply distributor in Los Angeles.
“The new management structure will make Targeted Medical a leaner more efficient company adding a lot more value for our customers and shareholders,” said recently appointed CEO, Kim Giffoni. “The company can now focus on improving and expanding customer relationships as well as creating new business opportunities domestically and abroad.”
About Targeted Medical Pharma, Inc.
Targeted Medical Pharma, Inc. is a Los Angeles-based biotechnology company that develops medical foods for the treatment of chronic disease, including pain syndromes, peripheral neuropathy, hypertension, obesity, sleep and cognitive disorders. The company also develops a line of dietary supplements designed to support health and wellness. The company manufactures 10 proprietary medical foods, and the dietary supplement for sinus and immune support, Clearwayz™. The products are sold directly to physicians, patients and pharmacies in the United States and abroad.
Forward Looking Statement
This press release may contain forward-looking statements related to Targeted Medical Pharma’s business strategy, outlook, objectives, plans, intentions or goals. The words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Actual results could differ materially. Targeted Medical Pharma expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
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