Wall Street Veterans Join Singular Medical Technologies Board of Directors
John Adair, Former Head of Equities for Nomura, and Richard Brown, Managing Director of Trading for MKM Partners
Winter Haven, FL – Singular Medical Technologies (SMT), an emerging technology company initially focused on high-performance hardware and software solutions in health care for Picture Archiving Communications Systems (“PACS”) for hospitals, imaging centers, radiology, teleradiology and cardiology groups, announced today that two Wall Street veterans have joined the company’s board of directors. They are John Adair, former Head of Equities for Nomura and Richard A. Brown, Jr., a Managing Director at MKM Partners.
“It’s not every day that two top-tier Wall Street executives, both with deep experience in public and private equity in the medical technology space, join our board,” said Richard Prati, Co-Founder and Executive Chairman of Singular Medical Technologies. “We couldn’t be happier to welcome Richard and John aboard as we work to revolutionize the radiology and imaging industry.”
“The addition of Richard and John to our board couldn’t come at a better time as we are at a tipping point of introducing a paradigm change to the radiology industry,” said Felix Garcia, CEO of Singular Medical Technologies. “Their combined business and finance acumen will help take us to the next level as our technology eliminates massive problems associated with incompatible PACS systems.”
Adair brings 25 years of experience in finance and investments, as well as a lengthy history in private equity in industries ranging from medical technology, biotech, alternative energy and real estate. Recently, Mr. Adair ran the Equities Division at Nomura (the Goldman Sachs of Japan). Prior to that, he was Co-Head of Asia-Pacific Equity Sales at both Lehman Brothers and Nomura. He was a member of the Nomura Asia Executive Management Committee, Asia-Pacific Equities Operating Committee, and Global Equities Executive Committee.
Before joining Lehman Brothers in 2007, Mr. Adair spent eight years as a Managing Director at Goldman Sachs and six years at Warburg Dillon Read as Head of Asian Equities Sales Trading. He began his career in audit and finance at Price Waterhouse and Morgan Stanley respectively. He holds a degree in Finance and Accounting from Georgetown University.
Brown has more than 30 years of technology investment banking and equity trading experience. Since 2012, he’s been Managing Director of Trading and an Operating Committee member at MKM Partners. He has an extensive background in public and private equity investments ranging from technology and medical devices to biotech and consumer companies. Prior to MKM Partners, Mr. Brown was one of three co-founders of American Technology Research (AmTech), an independent research broker/dealer, where he built and managed AmTech’s trading infrastructure and sales trading desk.
Brown subsequently served as Managing Director of Sales Trading of Gleacher & Co., which merged with Broadpoint AmTech shortly after the acquisition. In 1995, he joined Soundview Technology Group, a technology investment banking and research boutique firm, as a Managing Director and top sales trader until his departure to AmTech in 2002. Prior to Soundview, Mr. Brown served as a Vice President at Merrill Lynch from 1987 to 1995. He earned his B.S. in Marketing and Economics from Old Dominion University.
Adair and Brown join Singular on the heels of last week’s announcement that Cree (NASDAQ: CREE) founder and former Chairman of Novan (NASDAQ: NOVN) Neal Hunter joined the board.
About Singular Medical Technologies
Based in Winter Haven, FL, Singular Medical Technologies (SMT) is the only global company with a single elegant solution to integrating multiple disparate radiology PACS and dictation systems. The company designs and develops these high-performance solutions for hospitals, imaging centers, radiology and cardiology groups around the country. The company’s innovative PACStation Plus product allows physicians and health care professionals full and direct access to all PACS versions and worklists across entire health care networks, all within hours of installation. The technology addresses the global problem of incompatible PACS systems and does not have any of the constraints or complexities experienced by cloud-based systems, overlays or VNAs. SMT also develops solutions for emergency rooms, EMR integration, and high-performance mammography workstations. For more information, visit www.singmedtech.com.
Except for historical information, all statements, expectations and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: reliance on key personnel; the early stage of our business; risks associated with the development process; competition; and other risks described in other Company press releases and presentations. Singular Medical Technologies assumes no obligation and does not intend to update these forward-looking statements, except as required by law.