Endeavor Power Corp. Announces New CEO & Targets $14 Billion Point of Care Testing Market

CAMBRIDGE, Mass.–(BUSINESS WIRE)– Endeavor Power Corporation (“Endeavor” or the “Company”) (OTCQB: EDVP) is pleased to announce that J. Michael Redmond has been appointed as the Company’s new CEO, President and member of the Company’s Board of Directors.

Mr. Redmond is an accomplished senior executive with wide-ranging experience and an industry veteran in the diagnostic, medical device and biotech markets. He brings over 29 years of experience in business development, licensing/acquisitions, sales management, product management and marketing management derived from his work at companies such as Abbott Laboratories Diagnostics Division, KMC Systems, Bioject and DxTech, Inc. Mr. Redmond has successfully grown early stage companies and created shareholder value. While at Bioject he helped grow the market cap from $10M to over $300M and while at KMC and DxTech he successfully negotiated partnerships with several international medical and diagnostic companies.

Endeavor Chairman Edward W. Withrow III commented, “The Company’s Board of Directors is thrilled to have Michael Redmond at the helm during this important stage in the Company’s development. The Board believes that Mike is the best person to grow Endeavor Sciences, Inc. and execute its business plan. He is a hands-on, pragmatic and very capable executive, and has a clear focus and vision for the Company and its shareholders.”

Endeavor’s wholly owned operating subsidiary, Endeavor Sciences Ltd., is a world-class, innovative medical diagnostics company headquartered in Cambridge, MA. The Company’s FDA approved innovative technology platform provides rapid, qualitative and quantitative, high performance point-of-care diagnostic tests. All that is required from the patient is a single prick of blood and Endeavor’s diagnostic technology can deliver extremely precise and accurate results. The testing takes place in close proximity to the patient, and results are delivered within 15 minutes without the need to send samples to a laboratory for analysis.

Mr. Redmond, the Company’s newly appointed President and CEO commented, “This is an exciting time to be in the Point of Care Testing (“POCT”) business. It is like a perfect storm of market drivers including the need to reduce healthcare costs, provide better healthcare to patients and the growing development of the healthcare industry in BRIC countries such as Brazil, Russia, India and China.”

The POCT market has been predicted to reach a total market value of $34.6 billion by 2021, according to a recent report published by Kalorama Information. With the …read more
Source: FULL ARTICLE at DailyFinance