Industry Veteran Brings Wealth of Experience to Sonus' Board of Directors
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 Michael Fiore to the Company's Board of Directors and as a member of the audit committee.
Mr. Fiore, 47, currently serves at the Co-Chairman and CEO of Interdent, Inc. (NASDAQ: DENT), the largest provider of multi-specialty dental management services with revenues of $250 million at 150 locations in nine states. Prior to his employment at Interdent, Mr. Fiore was Director, Executive Vice President and Chief Operating Officer at Salick Health Care, Inc., a provider of diagnostic and therapeutic services to patients with cancer, kidney disease, organ transplantation and immunodeficiency diseases. As a member of a three-person executive team of Salick, he assisted in a secondary public offering of $50 million in 1994 and the sale of the company in 1995 for $450 million.
From 1980 to 1986, Mr. Fiore served as Corporate Vice President for American Medical International, a hospital management company now known as Tenet Healthcare Corporation. Mr. Fiore is a Certified Public Accountant and holds an MBA from Harvard Business School, an MS in Accounting from NYU, and a BA in Economics from Amherst College.
Dan Kohl, Chief Executive Officer of Sonus, commented, 'We are very pleased to be adding someone of Mike's caliber to our Board. Mike's experience in running companies with multiple locations, as well as his expertise in the delivery of quality health care services to the public, will be extremely valuable to us as Sonus continues its growth.'
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.
