N@N

Prism Medical Appoints George Chiarucci as Chief Financial Officer

^{Published on 2011-03-29 14:10:20 - Market Wire}
 

TORONTO, March 29 /CNW/ - Prism Medical Ltd. ("Prism Medical" or "the Company") (TSXV: PM), a leading provider of durable medical equipment and related services to the mobility disadvantaged, today announced the appointment of George Chiarucci to the position of Chief Financial Officer.

Mr. Chiarucci joins Prism Medical with more than 30 years of senior financial management experience. He brings significant public company experience to the Company, having previously served as Chief Financial Officer with TSX-listed companies including Atlantis Systems Corp., Timminco Ltd., and Cymat Corp. Mr. Chiarucci is a Chartered Accountant and holds a Bachelor of Science degree from the University of Montreal (Loyola College) and an Accounting Diploma from McGill University. 

Mr. Chiarucci succeeds William Edwards in the position of Chief Financial Officer.  Mr. Edwards will now hold a key senior operational role with Prism Medical as Executive Vice President, Operations. 

"George brings a solid capital markets background and significant public company experience to Prism Medical, and his addition further strengthens our senior management team as we continue to pursue our goal of reducing healthcare costs while improving the quality of life for the mobility disadvantaged and their caregivers," said Andrew McIntyre, Chairman and Chief Executive Officer of Prism Medical Ltd.

Mr. McIntyre added, "I look forward to Bill's future contributions in his new role of Executive Vice President, Operations.  Bill has a deep understanding of our operations, and I am confident that under his direction he will work to maximize the efficient processes we have in place in our business."

Concurrent with his appointment, Prism Medical granted Mr. Chiarucci 50,000 stock options on March 29, 2011 pursuant to the Company's 2010 Stock Option Plan. The stock options were issued at an exercise price of $5.08 and expire on March 29, 2014.

About Prism Medical Ltd.
Prism Medical Ltd. is one of the largest providers and manufacturers of durable medical equipment and related services to the mobility disadvantaged in Canada, the US and the UK, with more than 200,000 installations. The Prism Medical brands include Waverley Glen and ErgoSafe, North America's leading supplier of lifting, handling and repositioning aid products and services across Canada and the US. Freeway and Prism Service & Repair are leading suppliers of moving and handling products and services in the UK.

Forward-looking Information
Certain statements in this release may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.