ROCHESTER, N.Y., Dec. 17, 2015 /PRNewswire/
-- VirtualScopics, Inc. (NASDAQ: VSCP), a leading provider of
clinical trial imaging solutions, today announced that Ronald Way, 60, has been promoted to chief
operating officer (COO). Mr. Way joined VirtualScopics in
January 2011 as director of
operations and was promoted to vice president of operations in
August 2014. Mr. Way will be
responsible for leading all functions required to deliver superb
clinical trial imaging solutions to the company's customers using
regulatory compliant processes. Mr. Way has contributed to
the increased customer loyalty retention rate over the past few
years.
"Ron's ascension to a top leadership position in this company
should come as no surprise internally or to our shareholders," said
President and Chief Executive Officer, Eric
T. Converse. "His new role is a direct reflection of how he
has been successful in our continuing efforts to deliver
top-quality work. This has been central to achieving our
accomplishments thus far, and will help us grow our business
further and return the company to profitability." Mr. Converse
continued, "I look at 2016 with a lot of optimism and Ron is a key
component to the company's future. VirtualScopics has spent much of
the last year expanding its Phase III operational capabilities and
strengthening our reputation of operational excellence. Ron has
been an important part of this cultural shift and both the company
and our customers are benefiting tremendously."
Mr. Way has stated in the past that his main focus has always
been on meeting the customer's needs. "With the evolution of our
team, it has been possible to focus on the operational capabilities
of the company as a whole." Mr. Way continued, "The key to our
success is the dedication and quality of all our employees at
VirtualScopics. I am proud to lead this team."
Prior to working at VirtualScopics, Mr. Way spent 25 years as
the director of manufacturing operations for Ultralife, Inc., a
manufacturer of lithium battery systems for the military, medical
and consumer markets. Mr. Way was responsible for the
integration of all of the company's manufacturing operations in
Texas, Mississippi and England, as well as the operational knowledge
transfer to the company's facility in China.
Mr. Way has a B.S. degree in Business Management from the
University of Phoenix. He received his
Lean Six Sigma Black Belt Certification in 2009. Mr. Way is a
recipient of the New York State
Volunteer Service Award for his involvement in numerous youth
activities over the years.
About VirtualScopics, Inc.
VirtualScopics, Inc. (NASDAQ:VSCP) is a leading imaging CRO/Central
reader, providing clinical trial imaging solutions to accelerate
drug development. Medical and scientific expertise, operational
flexibility and responsiveness are hallmarks of our daily work and
collaborative approach. We understand the risks and time
constraints that clinical trial study teams,
medical directors, radiologists, and imaging scientists face.
We focus on addressing these challenges by consistently delivering
quality imaging data and imaging services on time and within
budget. It's these exceptional performance advantages that truly
set our clinical trial imaging services apart. For more
information about VirtualScopics, Inc., please visit
www.virtualscopics.com.
Forward-looking Statements
The statements contained in this press release that are not purely
historical are forward-looking statements within the meaning of the
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and are
intended to be covered by the safe harbors created thereby. These
forward-looking statements include, but are not limited to,
statements of optimism regarding the expected benefits of
appointing new executive officers and the Company's future
profitability and/or statements preceded by, followed by or that
include the words "believes", "could", "expects", "anticipates",
"estimates", "intends", "plans", "projects", "seeks", or similar
expressions. Forward-looking statements deal with the company's
current plans, intentions, beliefs and expectations.
Investors are cautioned that all forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Many
of these risks and uncertainties are discussed in the company's
Annual Report on Form 10-K for the fiscal year ended December 31, 2014 filed with the SEC, and in any
subsequent reports filed with the SEC, all of which are available
at the SEC's website at www.sec.gov. These include without
limitation: the risk of cancellation or delay of customer contracts
or that contract awards do not turn into signed contracts. Other
risks include the company's dependence on its largest customers and
risk of contract performance, protection of our intellectual
property and the risks of infringement on the intellectual property
rights of others. All forward-looking statements speak only
as of the date of this press release and the company undertakes no
obligation to update such forwardlooking statements.
For More Information, Contact:
Donna N. Stein, APR, Fellow PRSA
Managing Partner
Donna Stein & Partners
315-361-4672
Email: dstein1@twcny.rr.com
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SOURCE VirtualScopics, Inc.
