Power Medical Interventions Appoints Posner as CFO

LANGHORNE, Pa. — Power Medical Interventions Inc., a leader in developing and commercializing Intelligent Surgical Instruments, announced the appointment of Brian Posner as chief financial officer with immediate effect.

Posner's career spans over 20 years in global finance positions in the healthcare industry. Most recently, Posner served as executive vice president, and CFO with Pharmacopeia Inc., a clinical development stage biopharmaceutical company. Prior to Pharmacopeia, he held the position of Regional CFO at Omnicare Inc., where he was responsible for financial reporting and human resource functions for the Northeast subsidiaries. In addition, he previously held senior financial positions at Executive Health Group and Terence Cardinal Cooke Health Care Center. From 1984 to 1989, Posner was a member of the audit team at Cooper & Lybrand. He received his BA in accounting from Queens College in 1982 and his MBA from Pace University in 1984. In addition, Posner is a licensed certified public accountant in the state of New York.

Michael Whitman, president and chief executive officer, commented, "Brian brings a wealth of healthcare industry experience in finance and operations to the chief financial officer role. Brian's most recent experience has prepared him well to execute PMI's financing strategy. His objectives will be to strengthen PMI's balance sheet and allow PMI to execute its strategy leveraging its many assets."

Posner stated, "I'm very excited to join the PMI team and look forward to helping the Company realizing its enormous potential. This potential is evident in PMI's recurring revenue stream, emergence as a leader in Natural Orifice Transluminal Endoscopic Surgery (NOTES), and previously announced supply agreement with Intuitive Surgical."

Source: Power Medical Interventions