CAPS News Caprius, Inc. Appoints New President and Chief Executive Officer
HACKENSACK, N.J.--(BUSINESS WIRE)--Caprius, Inc. (OTCBB: CAPS) is pleased to announce, effective
today, the appointment of Dwight Morgan as President and Chief Executive
Officer, taking over from George Aaron. Mr. Morgan’s
primary role at Caprius will now be to develop and implement the
strategy to ensure that the Company remains on the road to profitability
and to generate significant revenue growth.
Mr. Morgan brings a wealth of international, high-technology, and
start-up expertise to Caprius, with more than 25 years experience in
various roles focused across domestic and international markets. Prior
to joining Caprius, he was responsible for founding and building the
industrial laser equipment business for the POM Group (“POM”),
a Michigan based high tech firm who developed an alternative metal
fabricating technology, known today as Direct Metal Deposition. In that
capacity, Mr. Morgan was responsible for establishing POM’s
start-up commercialization and marketing strategy, which quickly earned
this company several industry accolades, such as the State of Michigan’s
Commercialization Success Award and the most highly coveted Automotive
Industry’s PACE Award for Innovation and
Excellence. Prior to then, Mr. Morgan spent 17 years in management with
FANUC Robotics North America, the world’s
leader in industrial robotics. While at FANUC, he served in engineering,
marketing, and general management. During his tenure with FANUC, the
company grew from a startup with only 6 initial seed employees to the
market share leader in the industrial robot business with $450 million
in revenues.
Three years ago, Mr. Morgan was retained by Caprius as its Chief
Engineering Consultant. “Mr. Morgan has become
an integral part of the Company and his skill sets have been
instrumental in helping to streamline Caprius’
operations, building a solidly competitive product line, and securing
key product manufacturing partnerships,”
stated George Aaron, Chairman.
Mr. Morgan, a graduate of Cornell University, is a mechanical engineer
focusing on manufacturing technology. He has frequently been invited to
speak at numerous engineering and manufacturing trade meetings.
Mr. Morgan commented: “I am excited to assume
leadership of the Company at such a key point in its development and
look forward to taking it to profitability in the near future. I believe
that we are extremely well positioned to take advantage of the
increasing opportunities in the market due to the continued increase in
costs associated with offsite processing of infectious medical waste and
we intend to exploit these opportunities aggressively with the best team
possible.”
Mr. Aaron stated: “We are delighted to have
Dwight as a formal member of the management team of Caprius. With his
extensive knowledge of our products and the markets, together with his
leadership skills, we are confident that Dwight is the right person to
successfully execute on our business plan.”
Mr. Aaron will continue to serve in his capacity as Board Chairman and
concentrate his efforts on accelerating the Company’s
sales and regulatory matters in international markets, an area where the
Company has enjoyed the bulk of its recent marketing success.
About Caprius
Caprius, Inc. is a manufacturer of proprietary equipment for the on-site
disinfection and disposal of infectious medical waste through its
subsidiary, M.C.M. Environmental Technologies, Inc. The Company’s
innovative SteriMed technology simultaneously shreds and disinfects
solid and liquid regulated medical waste, reducing the volume by up to
90% and rendering it harmless for disposal as ordinary waste. The
SteriMed units are economical, compact, efficient and convenient, as
well as environmentally friendly. The MCM patented technology offers an
alternative to hauling and incinerating medical waste. Industry analysts
estimate the medical waste market to be approximately $3 billion in the
US and approximately $10 billion worldwide. More information on the
Company and MCM can be found at www.caprius.com
and www.mcmetech.com
Safe Harbor Statement
This press release may contain forward-looking statements that
involve risks and uncertainties. These statements refer to future plans,
objectives, expectations and intentions.These statements may be
identified by the use of words such as “anticipate,”“believe,”“intend,”“plan,”“expect”
and other similar expressions.The Company’s
actual results could differ materially from those discussed in, or
implied by, such forward-looking statements.You should also be
aware of risks and uncertainties that, in the Company’s
view, could cause actual results to differ materially including changes
related to regulatory and environmental approvals, manufacturing,
operations, capital needs, technological advances by competitors and
changes in health care reform, including reimbursement programs.
Certain information concerning economic trends and performance is
based upon or derived from information provided by third-party
consultants and other industry sources.While the Company
believes that such information is accurate and that the sources from
which it was obtained are reliable, it cannot guarantee the accuracy of
such information, as it has not independently verified the assumptions
on which projections of future trends and performance are based.
