PORTLAND, Ore.--(BUSINESS WIRE)--Sonus Corp. (AMEX:SSN), the largest audiology-based retailer of hearing instruments in North America with 1,043 company-owned and affiliated hearing centers, today announced that it has named Mark Richards, 42, as the Company's Senior Vice President and Chief Financial Officer. Mr. Richards brings a wealth of experience to Sonus gained from over 13 years as an executive in the healthcare services field.
Prior to joining Sonus, Mr. Richards served as Senior Vice President and Chief Financial Officer for Pathology Partners, Inc., a Dallas based company, which develops and operates pathology laboratories. From 1998 to 2000, Mr. Richards served as Chief Financial Officer of MedSites, Inc., a start-up pharmaceutical site management organization. From 1996 to 1998, Mr. Richards served as Chief Financial Officer and Treasurer of American Imaging Management (formerly known as Medicon), the country's largest manager of diagnostic imaging services. He served in various financial capacities with H.M.S.S., Inc., a national home infusion therapy company, from 1988 to 1995, ending his tenure there as Vice President-Finance. Mr. Richards is a certified public accountant, formerly associated with PricewaterhouseCoopers,
L.L.P., and received a BSBA degree from the University of Arkansas.
Dan Kohl, Chief Executive Officer of Sonus, stated, 'Mark's understanding of the healthcare services sector will help tremendously as the Company continues to expand its industry presence. In addition, Mark's strong background in securing third party reimbursements will be of great benefit as the Company seeks to improve its financial position.'
Mr. Richards replaces Paul Campbell, who is leaving to pursue other interests.
Sonus Corp. is the largest audiology-based retailer of hearing instruments in North America. Sonus' 1,043 company-owned and affiliated hearing centers provide a full range of products and services to hearing impaired patients. The Company's vision is to become the premier network of hearing centers in North America. Sonus' strategy involves the consolidation of the industry through acquisition and affiliation of quality hearing centers. To learn more about the Company, visit the Sonus website at www.sonus.com.
This news release contains forward looking statements which may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Sonus Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors with respect to Sonus Corp. include economic trends in Sonus Corp.'s market areas, the ability of Sonus Corp. to manage its growth and integrate new acquisitions into its network of hearing care clinics, the development of new or improved medical or surgical treatments for hearing loss or of technological advancements in hearing instruments, changes in the application or interpretation of applicable governmental laws and regulations, the ability of Sonus Corp. to complete additional acquisitions of hearing care clinics on terms favorable to Sonus Corp., the degree of consolidation in the hearing care industry, Sonus Corp.'s success in attracting and retaining qualified audiologists and staff to operate its hearing clinics, the ability of Sonus Corp. to attract audiology clinics as franchisees under the Sonus Network, product and professional liability claims brought against Sonus Corp. that exceed its insurance coverage, Sonus Corp.'s ability to collect accounts receivable in a timely manner, and the availability of and costs associated with potential sources of financing. Sonus Corp. disclaims any obligation to update any such factors or to publicly announce the results of any revision to the forward looking statements contained herein to reflect future events or developments.
Sonus Corp. Names Mark Richards Chief Financial Officer
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