Portland, OR - May 23, 2001 - Sonus Corp. (AMEX: SSN), the largest audiology-based retailer of hearing instruments in North America with 782 company-owned and franchised hearing centers, today announced the appointment of Daniel J. Kohl as Chief Executive Officer and a director. Mr. Kohl's more than 23 years of health care industry experience will complement the more than 50 years of combined expertise in hearing health care, retail and franchising possessed by Sonus' existing senior management team.
Mr. Kohl, 44, assumes the position of Chief Executive Officer from Brandon M. Dawson, who will continue as Sonus' Chairman of the Board. Most recently, Mr. Kohl was President and CEO of 21st Century Jobfinder, Inc., an internet and IVR based employment recruiting company. From 1997 to 1999, Mr. Kohl served as President and CEO of Housecall Medical Resources, Inc., a $200 million home health care company with 100 locations that was acquired by Adventist Health System in 1998. Mr. Kohl was Senior Vice President/Group Executive of the Health Information Services Division of Equifax, Inc., from 1993 to 1997 and President and Chief Operating Officer of HMSS, Inc., a provider of infusion products and services to patients in home, work, and ambulatory center settings from 1991 to 1993. He held numerous executive positions with Apria, Inc. (formerly Abbey Foster/Medical) from 1986 to 1991 and Baxter International, Inc. (formerly American Hospital Supply Corp.) from 1978 to 1986. Mr. Kohl holds a B.S. in Business Administration from The Citadel and an M.B.A. from New Hampshire College.
Mr. Kohl commented, 'I am excited about the opportunity to join such a dynamic and rapidly growing company. Sonus has established an impressive record of growth in its franchised and company-owned clinics and I look forward to working with the Sonus team to continue to build upon this success.'
Brandon M. Dawson, Chairman of Sonus, stated, 'Dan, with his impressive career and strong managerial leadership skills, is a welcome addition and a great complement to an already strong management structure. I will be focused full-time as Chairman working with Dan and other Sonus officers in the continued execution, corporate development and strategic planning side of the Company, while Dan will work closely with President Scott Klein and CFO Paul Campbell in managing the day-to-day operations of our expanding organization.'
'Sonus is in the best position ever to create shareholder value. We have always been the industry leader and with the combination of growth in The Sonus Network and HearPO and the opportunity to grow our Company-owned stores, we felt that it was imperative to bring someone to the Company with Dan's skills.'
Sonus Corp. is the largest audiology-based retailer of hearing instruments in North America. Sonus' 782 company-owned and franchised 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 licensing 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 franchise licensees 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.
