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Former Boston Scientific Corporation and CVS Executives Strengthen NEWMED Board of Directors

NEWMED Corporation Elects Robert J. DePasqua and Harvey Rosenthal to Board

Newton, MA - October 9, 1997 - NEWMED Corporation today announced that Robert J. DePasqua and Harvey Rosenthal have been elected to the company's Board of Directors. This brings the current board to seven directors.

DePasqua has 26 years' experience in the high-tech, high-growth, medical device industry. He was one of the original employees at Boston Scientific, where he spent ten years in various management positions, including five years as President/founder of their Microvasive division. DePasqua is also the former President and CEO of The Spectranetics Corporation (Colorado Springs, CO) and Betagen Corporation (Waltham, MA). Under his leadership, The Spectranetics Corporation, a coronary laser angioplasty company, raised $29 million in venture capital and completed a $36 million IPO. DePasqua holds a bachelors of science in mechanical engineering from Northeastern University. He also serves on the board on Spinetech, Inc.

DePasqua said, "In a growing asthma market, NEWMED has developed a practical and easy-to-use solution to a widespread problem. The company's DOSER provides asthmatics and parents of asthmatics with a better means of managing asthma."

Rosenthal served as president and chief operating officer of Melville Corporation (1994-1996), a retailing conglomerate with 1995 sales of $11.5 billion. Previously he was president and chief executive office of CVS (1984-1994), the nation's largest drugstore chain. Under his tenure CVS's sales increased 350 percent to $4 billion, and operating profit tripled, making CVS Melville's largest division.

Rosenthal graduated from Harvard College. He holds a masters of business administration from Harvard Business School and an honorary doctor of science in pharmacy from Massachusetts College of Pharmacy. Rosenthal serves on the board of directors of a number of corporations, including LoJack Corporation, Cosmetic Centers, Inc. He is a trustee of the Dana-Farber Cancer Institute and a member of the Board of Trustees of EQ Advisors Trust. In 1992-1993 Rosenthal served as chairman of the board of the National Association of Chain Drug Stores (NACDS).

Rosenthal noted, "NEWMED's DOSER is a unique product that fills an important need. The company, which has already achieved impressive distribution, has a product that will improve patient compliance and provide peace of mind."

"Bob's experience in building medical device companies and Harvey's experience in retailing, and the pharmacy area specifically, strengthen our board immensely. We are very pleased to have them as members of our board of directors," said James G. Bath, NEWMED's President and founder.

NEWMED's Board of Directors includes:

  • Joseph F. Alibrandi, Chairman of Whittaker Corporation and Blowhittaker Inc.
  • Pat Alibrandi, Founder, Chairman of the Board and Treasurer, Interstate Electrical Services ("Interstate")
  • James G. Bath, President, NEWMED Corporation
  • Robert J. DePasqua, former President and CEO: The Spectranetics Corporation, Betagen Corporation
  • Stephen Greaves, former General Manager, President, Errin Mills International Investment Corporation
  • Daniel J. Hawkins, Chief Executive Officer, NEWMED Corporation
  • Harvey Rosenthal, former President and Chief Operating Officer, Melville Corporation, President and Chief Executive Officer, CVS

NEWMED Corporation, headquartered in Newton, MA, is a medical device Company specializing in products that help people manage their own respiratory health. NEWMED's mission is to enable people with a respiratory condition, parents of asthmatic children, and healthcare professionals to better manage treatment. The company was founded in 1993.

The Company's first product, the DOSER, tracks the use of medication taken from a Metered Dose Inhaler (MDI) as the inhaler is used normally. It is the first and only product of its kind. With its self-contained microcomputer, the DOSER counts and displays the number of inhalations remaining in the MDI, and displays the number of inhalations taken in the current day. It also stores the number of inhalations taken in each of the past 30 days in its memory and alerts the user when the MDI is nearly empty. With its self-contained battery, the DOSER lasts a full year.

To find out where you can purchase the DOSER in your area, call MEDITRACK Products, 1-800-863-9633.

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