Imprimis Pharmaceuticals Appoints Healthcare Leader William H. Nelson to its Board of Directors
SAN DIEGO, Sept. 8, 2014 /PRNewswire/ -- Imprimis Pharmaceuticals, Inc. (Nasdaq: IMMY), a specialty pharmaceutical company dedicated to delivering high quality and novel medicines to physicians and patients at accessible prices, today announced the appointment of William H. Nelson to its Board of Directors, effective September 4, 2014.
Mr. Nelson served as the President and Chief Executive Officer of Intermountain Healthcare, an integrated nonprofit healthcare system with 160 healthcare facilities, including hospitals, surgery centers, clinics and an insurance organization, from 1999 until his retirement in early 2009. Nationally acclaimed Intermountain Healthcare is the largest healthcare provider in the intermountain west, with over 33,000 employees serving the needs of Utah and southeastern Idaho residents. Mr. Nelson also served as the Chief Operating Officer of Intermountain Healthcare from 1995 to 1998 and as the Chief Financial Officer from 1976 to 1995. He has served on the boards of the Utah Symphony & Opera, Beneficial Life Insurance, United Way of the Greater Salt Lake Area and the Healthcare Research and Development Institute. Mr. Nelson received his Bachelors of Science in Accounting from Brigham Young University and his MBA from the University of Southern California.
"We are very pleased to welcome Bill to our Board of Directors," said Mark L. Baum, Chief Executive Officer of Imprimis. "Lauded by national business and political leaders, Intermountain, the hospital system Bill was a part of building for 32 years, is special because it has a history of delivering high quality services to millions of people – at below average costs. Bill's vision at Intermountain is similar to ours. We too believe we can deliver high quality, novel and important medicines to patients at costs that will save the healthcare system money. We look forward to the guidance and operational expertise that Bill will bring to Imprimis as we advance our unique development and commercialization plans in ophthalmology and in other therapeutic areas."
Mr. Nelson commented, "I am honored to join the Imprimis Board and to work with the Imprimis management team and fellow Board members. I am impressed with the Company's accomplishments to date and hope to contribute to the Company's vision to deliver novel and customizable medicines to physicians and patients today at accessible prices."
ABOUT IMPRIMIS PHARMACEUTICALS
We are a vertically-integrated specialty pharmaceutical company focused on the development and commercialization of innovative proprietary sterile and topical drug formulations. We own proprietary formulations in ophthalmology, urology and wound management that we believe may offer advantages over commercially available formulations or which serve substantially unmet needs in the marketplace. We are currently focused on developing our proprietary ophthalmology formulation business. We also sell non-proprietary sterile and topical drug formulations. We fulfill prescription orders for our drug formulations through our New Jersey-based prescription fulfillment facility, which is licensed to distribute our drug formulations in 33 states. We believe our business model allows us to meet the realities of the current health care economy by offering quality pharmaceutical innovation at accessible prices. For more information, please visit http://imprimispharma.com or www.GoDropless.com.
SAFE HARBOR
This press release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward looking statements." Forward looking statements are based on management's current expectations and assumptions and therefore are not guaranties of future performance and are subject to risks and uncertainties that may cause actual results to differ materially and adversely from those predicted by the forward looking statements. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include risks and uncertainties related to Imprimis' ability to make commercially available its compounded formulations and technologies in a timely manner or at all; physician interest in prescribing its formulations; risks related to its compounding pharmacy operations; including its ability to maintain compliance with applicable state and federal laws and regulations; its ability to enter into other strategic alliances, including arrangements with pharmacies, physicians and healthcare organizations for the development and distribution of its formulations; its ability to obtain intellectual property protection for its assets; its ability to accurately estimate its expenses and cash burn, and raise additional funds when necessary; risks related to research and development activities; the projected size of the potential markets for its technologies and formulations; unexpected new data, safety and technical issues; regulatory and market developments impacting compounding pharmacies, outsourcing facilities and the pharmaceutical industry; competition; and market conditions. As a result of to these risks and uncertainties, undue reliance should not be placed on forward looking statements. You are encouraged to read Imprimis' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, which more fully describe these and additional risks and uncertainties that may impact future performance. Such documents may be read free of charge on the SEC's web site at www.sec.gov. The limited information contained in this press release is not adequate for making an informed investment judgment. Forward looking statements speak only as of the date they are made and except as required by law, Imprimis undertakes no obligation to update any forward looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
SOURCE Imprimis Pharmaceuticals, Inc.
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