DATATRAK Announces the Appointment of New Independent Director
Company Appoints Eric J. Wilhelm to the Board of Directors
CLEVELAND, Aug. 12, 2016 /PRNewswire/ -- DATATRAK International, Inc. (OTC Markets: DTRK), a leader in cloud-based, unified dClinical® technologies and related services for the clinical trials industry, today announced the appointment of Eric J. Wilhelm to the Board of Directors as a Class II Director.
The Company's Board size is currently set at six directors, with three current Board members serving as Class I Directors. The appointment of Dr. Wilhelm fills one of the three vacancies in Class II, whose term expires at the 2016 annual meeting of shareholders. Dr. Wilhelm was identified as a qualified candidate for the Board position through outreach with shareholders. After discussions with the current Directors and members of the management team at DATATRAK, Dr. Wilhelm was appointed to the Board at the Company's regularly scheduled Board of Directors meeting on August 5, 2016.
"In addition to having an incredibly innovative mind, Eric also possesses sound business and investment discipline, which is evident in his recurring ability to start up and grow profitable operating businesses that attract the attention of well established organizations in Silicon Valley," commented DATATRAK Chairman Alex Tabatabai. "More importantly, Eric has a deep and disciplined understanding of intelligent resource and capital allocation, which is an important attribute for a Director to have at a company that is generating profits and balance sheet cash that must be deployed wisely in order for shareholders to obtain more than a dollar in return for every dollar deployed," added fellow Director, Jim Bob Ward, who also serves as CEO and President of DATATRAK.
Dr. Wilhelm has founded several companies including the project-sharing community Instructables (acquired by Autodesk), high-altitude wind power company Makani Power (acquired by Google), the innovation and design partnership Squid Labs, and companies working on portable energy generation and health care. His is now the Vice President of Hardware and Communities at Autodesk.
He received his SB, SM, and Ph.D. degrees in mechanical engineering from MIT. He has been recognized as a top innovator by Technology Review Magazine and Popular Mechanics, won a Wired Rave award for Industrial Design, and awarded the National Inventors Hall of Fame Collegiate Inventors Award for development of a nanoparticle printing technique.
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About DATATRAK International, Inc.
DATATRAK International is a worldwide technology and services company delivering unified dClinical® solutions and related services for the clinical trials industry. DATATRAK built its multi-component, comprehensive solution on a single, unified platform and expanded this concept to include services delivery via DATATRAK's Clinical and Consulting Services group. The Company delivers a complete portfolio of software products designed to accelerate the reporting of clinical research data from sites to sponsors and ultimately regulatory authorities, faster and more efficiently than loosely integrated technologies. The DATATRAK ONE® software solution, deployed worldwide through an ASP or Enterprise Transfer offering, supports Preclinical and Phase I - Phase IV drug and device studies in multiple languages throughout the world. DATATRAK is located in Cleveland, Ohio and Bryan, Texas. For more information, visit http://www.datatrak.com.
Except for the historical information contained in this press release, the statements made in this release are forward-looking statements. These forward-looking statements are made based on management's expectations, assumptions, estimates and current beliefs concerning the operations, future results and prospects of the Company and are subject to uncertainties and factors which are difficult to predict and, in many instances, are beyond the control of the Company, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. All statements that address operating performance, events or developments that management anticipates will occur in the future, including statements related to future revenue, profits, expenses, cost reductions, cash management alternatives and working capital requirements, strategic alternatives, raising additional funds, income and earnings per share or statements expressing general opinion about future results, are forward-looking statements. For a list of certain factors that may cause actual results to differ materially from those contemplated in these forward looking statements, please see the Company's report filed with the OTC Markets on April 8, 2016 announcing its results for the full-year period ended December 31, 2015. The Company undertakes no obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise.
SOURCE DATATRAK International, Inc.
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