CAESAREA, Israel, May 5, 2014 /PRNewswire/ -- LabStyle Innovations Corp. (OTCQB: DRIO), developer of the Dario™ Diabetes Management Solution, announced today that world-renowned urologist and researcher, and co-founded numerous technology initiatives Professor Steven Kaplan, has joined the company's Board of Directors.
Professor Kaplan is an internationally recognized urologist and researcher who also brings a rich business background to LabStyle's board. He has co-founded and worked with numerous medical technology initiatives, including MediData Solutions (NASDAQ: MDSO), a leading global provider of software-based clinical development solutions.
Professor Kaplan is the E. Darracott Vaughan Professor of Urology and Chief of the Institute of Bladder and Prostate Health at Weill Cornell Medical College, and Director of the Iris Cantor Men's Health Center at New York Presbyterian Hospital. He previously served as Vice Chairman, Administrator and Chief Financial Officer of Department of Urology at Columbia University. He is a published researcher and a member of more than 30 professional organizations. He has been awarded five National Institutes of Health grants and was also awarded the John K. Lattimer Award for Lifetime Achievement in Urology by the National Kidney Foundation.
Professor Kaplan's business experience includes development of synergies between various digital health platforms and informatics. He was a pioneer in bringing various technologies in Urology to clinical practice including therapies for the prostate and urinary incontinence.
"We are honored to welcome Professor Steven Kaplan to the LabStyle's board," said LabStyle's chairman and co-founder Dr. Oren Fuerst. "His strong reputation, track record and vast experience in medical technology is a welcome addition to our team as we roll-out our product availability worldwide and stride toward FDA approval in the United States."
Commenting on his appointment, Professor Steven Kaplan stated, "LabStyle has a superb product offering with Dario, the Diabetes Management Solution, and is already showing early signs of market success. I am proud to join LabStyle to help bring their mobile health care vision to market."
LabStyle also announces that Mr. Adam Stern is retiring from LabStyle's board to pursue other opportunities. Mr. Stern stated "I congratulate LabStyle for its incredible achievements to date. It has been an honor and pleasure to assist this most promising company, and I will continue to follow LabStyle's progress going forward. I would also like to welcome Professor Kaplan to the board and wish him, the rest of the board, and the executive team the best of luck in all their endeavors. "Commenting on Mr. Stern, Dr. Fuerst stated "On behalf of our board, I would like to thank Adam for his extremely valuable service and contribution to our company during his time as a director. He has been with us since our founding and has been a key member of our board and one of our leading advocates. His efforts during our early stages of development were critical to our start-up achievements, and we part now as we move forward towards becoming a full commercial enterprise and he moves on to help other companies." Mr. Erez Raphael LabStyle's President and Chief Executive Officer added, "It has been a honor working together with Adam– he has been an extremely valuable asset to the Dario worldwide launch and product strategy. We wish him success for the future."
About LabStyle Innovations
LabStyle Innovations Corp. (OTCQB:DRIO) develops and commercializes patent-pending technology providing consumers with laboratory-testing capabilities using smart mobile devices. LabStyle's flagship product is the Dario™ personalized smart meter. Dario™ received CE mark certification in September 2013 and began a world rollout in select countries in December 2013. LabStyle filed a Premarket Notification Application, also known as a 510(k), with the US Food and Drug Administration (FDA) for the Dario™ smart meter (Dario™ Blood Glucose Monitoring System) in December 2013. LabStyle is pursuing patent applications in multiple areas covering the specific processes related to blood glucose level measurement as well as more general methods of rapid tests of body fluids using mobile devices and cloud-based services. For more information: www.mydario.com and http://mydario.investorroom.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of LabStyle Innovations Corp. (the "Company") related thereto contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the performance of the new director appointee as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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