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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  BioSig Technologies Inc    

BIOSIG TECHNOLOGIES INC
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Johnson & Johnson Veteran Chuck Austin To Scale Up BioSig Operations

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01/09/2018 | 02:01pm CEST

Santa Monica, CA, Jan. 09, 2018 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that it has partnered with Mr. Charles (Chuck) Austin and JK Advisors in order to scale up operational activities ahead of the commercial launch of PURE EP(tm) System.

Mr. Austin brings to the Company over 25 years of experience in medical devices, pharmaceuticals and consumer products. Most recently, he served as Corporate Vice President, Global Supply Chain at Johnson & Johnson, and was a member of the J&J Management Committee. In this role, he was responsible for over 60,000 associates at 130 sites around the world while overseeing over 500 external manufacturers, over $22BB in direct spend, and supported in excess of $70BB in sales. His leadership positions within Johnson & Johnson included Company Group Chairman for Ethicon Surgical Care and Worldwide President for Ethicon Endo-Surgery.

The appointment of Mr. Austin comes at a crucial time for BioSig, as the Company executes its market entry in the U.S. in 2018.

Mr. Austin currently serves on multiple boards in the medical and consumer spaces and is a Principal in JK Advisors, a San Diego based firm focused on the medical space. 

“BioSig has impressed us with a strong value proposition and support of leading centers of excellence in the industry. I’m delighted to join the BioSig team at this important time and contribute my knowledge to take the Company to the next level,” commented Mr. Austin.

“BioSig is excited to be working with an executive leader like Chuck. His 25 plus years of experience working for one of the world's leading healthcare organizations can significantly benefit our effort to launch and expand our business operations,” stated Mr. Kenneth Londoner, Chairman & CEO of BioSig Technologies, Inc. “While we expect Chuck to make his initial impact on manufacturing, logistics, and operations, his experience in successfully deploying new commercial models and driving global growth in the medical device marketplace will create value for all our stakeholders. This is an excellent way to kick off our efforts in 2018, which promises to be a pivotal year for the Company.”

About BioSig Technologies
BioSig Technologies is a medical device company developing a proprietary biomedical signal processing technology designed to improve the $4.6 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Los Angeles-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System.  The technology has been developed to address an unmet need in a large and growing market.

The Company’s first product, PURE EP(TM) System, is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance for the PURE EP System.

Forward-looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. 


Contact:
Natasha Russkina
BioSig Technologies, Inc. 
VP Business Development & Corporate Finance 
nrusskina@biosigtech.com
+41 (0) 76 823 7527



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© GlobeNewswire 2018
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Financials ($)
Sales 2018 -
EBIT 2018 -15,3 M
Net income 2018 -15,9 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
Capi. / Sales 2018 0
Capi. / Sales 2019 28,4x
Capitalization 71,0 M
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 10,6 $
Spread / Average Target 124%
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Managers
NameTitle
Kenneth L. Londoner Executive Chairman & Chief Executive Officer
Steven Chaussy Chief Financial Officer
Roy T. Tanaka Independent Director
Seth H. Z. Fischer Independent Director
Patrick Gallagher Independent Director
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