Québec City, Québec – November 10, 2015 – TSO3 Inc. (TSX: TOS), an innovator in sterilization technology for medical devices in healthcare settings, has appointed Steve West to the Company’s board of directors.
West brings a wealth of strategic experience to TSO3, including more than 30 years of public company experience in health and life sciences, nuclear industry, specialty chemicals and venture capital. West recently served as CEO of Nordion (TSX: NDN, NYSE: NDZ), a leading provider of medical isotopes and sterilization technologies. During his tenure as CEO, West lead Nordion’s $727 million sale to two buyers, Sterigenics, a global leader in sterilization services, and GTCR, a private equity firm, at a 12% premium to the market.
Prior to Nordion, West held senior positions with MDS, where he was responsible for all aspects of the company’s global operations and regulatory affairs before its sale to Nordion. He has also served as a senior partner at MDS Capital, president at Unilever Canada, and vice president at Diversey Corporation. West currently also serves as chairman of the board for two non-profits, the Ottawa Hospital Foundation and The Innovation Centre at Bayview Yards.
“Steve’s experience as a CEO and director of a dual-listed public company in the healthcare sector will be valuable as we evaluate our U.S. listing options,” said TSO3 president and CEO, R.M. (Ric) Rumble. “He also has gained extensive global expertise from his tenure at Nordion, MDS, and Unilever Canada, which we expect to help guide our fast-growing global business.”
Commented West: “TSO3 has clearly entered the commercialization stage of its development with the significant ramp in sales during the third quarter and completion of its new U.S. distribution and customer support facility. I look forward to working closely with TSO3 management and the board to advance the company’s commercial rollout of the STERIZONE® VP4 Sterilizer worldwide, which uniquely addresses the unmet need for sterilization of medical devices and complex instruments used in the hospital environment.”
Founded in 1998, TSO3’s activities encompass the sale, production, maintenance, research, development and licensing of sterilization processes, related consumable supplies and accessories for heat-sensitive medical devices. The Company designs products for sterile processing areas in the hospital environment that offer an advantageous replacement solution to other low temperature sterilization processes currently used in hospitals. It also offers services related to the maintenance of sterilization equipment and compatibility testing of medical devices with such processes.
The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by TSO3) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favourable terms and other risks and uncertainties.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The TSX has neither approved nor disapproved the information contained herein and accepts no responsibility for it.
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