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About Dtec Security Inc.
Dtec Security Inc. (otc: DTCJ), through its wholly owned subsidiary Sigma Medical., is a company dedicated to providing innovative medical products and services, primarily focused on helping seniors with chronic diseases. Headquartered in Irving, Texas, Sigma Medical operates a fully accredited Medicare mail-order pharmacy and distribution center that serves healthcare facilities, physicians and patients in 19 states. Currently, the Company is producing rapidly growing revenues and expanding margins by offering the highest quality products and services, with a 100% order fulfillment rate at extremely competitive prices.
Sigma Medical plans to expand their market share through an acquisition strategy of synergistic and profitable healthcare companies and also by engaging in exclusive joint venture and licensing agreements with several prominent Canadian mail order pharmacies, complete a full vertical integration, and expand the available product lines to their United States patient bases. The plan will help their Canadian partners prepare for the healthcare law changes in the year 2006 that will redirect and limit United States citizens ordering prescriptions from Canada. The Company plans to complete several healthcare acquisitions within the next 12 months and is projecting first year revenues to exceed $20 million and growing to over $200 million within the next three years.
In the global economy, the United States has the largest generic drug industry in the world. Emerging industry trends and pending legislation are anticipated to drive the majority of the generic industry, as well as senior population growth and an effort to save on prescriptions over the next decade.
Bryan Chance - Chairman & CEO
Currently, Mr. Chance is the Chief Executive Officer of Sigma Medical
Prior to co-founding Sigma Medical, Mr. Chance was the Chief Financial Officer for Aslung Pharmaceutical. Mr. Chance was primarily responsible for operations, finance, regulatory and sales strategy at Aslung Pharmaceutical. During Mr. Chance's tenure with Aslung, he successfully led the Company through initial FDA approval of its drugs, the negotiation and implementation of two private-labeled drugs and the addition of pharmaceutical manufacturing suites. Furthermore, during his tenure, Aslung successfully penetrated the specialty homecare market, national wholesalers and began distribution efforts in South America (Brasil).
Prior to Aslung Pharmaceutical, Mr. Chance was the Vice President of Finance for CareSouth. Mr. Chance joined the senior management team after the consummation of the Baylor purchase by CareSouth. While at CareSouth, Mr. Chance has led the Mergers and Acquisition function. This includes negotiating transactions, completing price valuations, and managing due diligence and transition. Additionally, Mr. Chance assisted in completing the refinancing arrangement of CareSouth by producing detailed financial projections of each business entity and participating in lender negotiations.
Prior to completing the CareSouth/Baylor transaction, Mr. Chance was the Chief Financial Officer for Baylor HomeCare and Baylor Home Infusion Therapy, one of the largest hospital-based home health agencies in Texas. While at Baylor, Mr. Chance lead a process to restructure Baylor HomeCare to reverse a trend of negative performance over the previous years. Performance improvements included reversing an annualized loss of $4.5 Million to breakeven performance in fifteen months. Mr. Chance also implemented a revenue process redesign that improved the agency's business processes, increased monthly cash collections and reduced days in accounts receivable. At the end of Mr. Chance's tenure with Baylor, Mr. Chance led the efforts to divest the assets in Baylor Health Services.
Prior to joining Baylor HomeCare, Mr. Chance was Director of Mergers and Acquisitions for Nursefinders, Inc., a national leader in the health care staffing and home care businesses. While at Nursefinders, Mr. Chance led the acquisition process which included market research, initial contact with interested parties, coordination of due diligence, deal negotiations, closing the transaction, and implementation. During his tenure with Nursefinders, Mr. Chance closed three transactions with large regional health care staffing companies.
Prior to Nursefinders, Mr. Chance was the Chief Financial Officer for Home Health Corporation of America's Southern Region (Texas and Florida operations). Mr. Chance was responsible for the overall direction and coordination of the finance, accounting, reimbursement, and financial planning functions of his region. During his tenure at HHCA, Mr. Chance consolidated the financial operations of the Florida and Texas groups successfully.
Prior to HHCA, Mr. Chance served in various leadership positions for Columbia/HCA Healthcare Corporation. Primarily, he was the Senior Director of Financial Operations for Columbia's Home Care Group (14.4 million visits and $1 billion in net revenues) and the Director of Financial Operations (59 acute care facilities and $4 billion in net revenues) for Columbia's Western Group.
Prior to Columbia/HCA, Mr. Chance was a health care consultant for Price Waterhouse's National Healthcare Group. Engagement experience at Price Waterhouse includes acute care facilities, sub-acute facilities, rehabilitation providers, payers, and home health entities.
Mr. Chance received his Bachelor's degree from the University of Tennessee in 1992. Mr. Chance is a Certified Public Accountant licensed to practice in the state of Tennessee. Additionally, he is a member of the Healthcare Financial Manager's Association, the American Institute of Certified Public Accountants, and the Tennessee Society of Certified Public Accountants. He is currently working towards completion of his Masters of Business Administration at the University of Texas at Dallas.
Craig Presnall - President
Currently, Mr. Presnall is the President of Sigma Medical Prior to co-founding Sigma Medical, Mr. Presnall was the National Vice President of Sales for Aslung Pharmaceutical. Mr. Presnall was responsible for sales revenue in excess of $20 million, led the movement of their products into wholesale markets and obtained market penetration of 45% in the homecare respiratory pharmacy market.
Frior to Aslung Pharmaceutical, Mr. Presnall held the position of Western Regional Sales Manager for Sherwood International. He detailed a fully integrated software solution for property and casualty insurance businesses specializing in healthcare. During his tenure at Sherwood he negotiated with the CEO, CIO, and CFO of companies with assets of $100 million to $2 billion resulting in a 5 Insurance Company deal worth $1.2 billion in direct written premium.
Prior to Sherwood, Mr. Presnall held the position of Western Regional Sales Manager for Inspire Insurance Solutions. The company provided software for the property and casualty industry. Mr. Presnall started a link between American Express and Inspire to lease the software packages. He achieved sales of $1,000,000 in a 6 month period of time.
Mr. Presnall obtained the position of Regional Manager, District Manager and Sales Manager for IDEXX, Inc. from 1995-1998. He managed $20 million in annual sales of veterinary medical diagnostic equipment for 6 states and distribution of ancillary supplies to the entire United States. He provided detailed training of the products for the staffs of veterinary doctors, technicians, and laboratory supervisors on the features and benefits of all products. He drove the market penetration for new products from 0 to 42% (with 4 major competitors) in less than 18 months. He hired, trained and supervised 12 sales representatives and promoted their career advancement by helping them achieve top corporate sales for each quarter. Through his motivation and training he retained his original sales staff for 2 years. He achieved #1 Region consistently for superior performance.
He was the Key Account Executive for Miles, Inc. He managed 40 major sales accounts for the industry leader of laboratory equipment for pathologists in hematology, histology, chemistry, urinalysis, immunology and diabetes. He generated in excess of $1.5 million annually and grew the territory by more than 30% in less than 1 year.
Mr. Presnall began his career in the medical field after completing his education at Baylor University in 1993.
Jim Brull - Chief Operating Officer
Currently, Jim Brull is the Chief Operating Officer for Sigma Medical.
Mr. Brull recently joined the senior management team from Centroid Systems a boutique IT/Strategy consulting firm where he was a Senior Partner. While at Centroid, Mr. Brull led the Consulting practice as well as serving as the COO. Mr. Brull has undertaken leadership roles in formulating and executing technical strategies as well as implementing worldwide ERP systems and Integration projects for companies as large as an $8B manufacturer and as small as startups. Additional duties included developing and managing partner relationships, managing day-to-day operations, as well as responsible for Consulting Services Sales and contract negotiations.
Prior to Centroid, Mr. Brull gained extensive management and consulting experience working with industry leaders such as EDS and Ernst & Young Consulting practices. Mr. Brull's primary role is designing, implementing and managing large-scale projects. Work included assessing the current-state of enterprise infrastructure and recommending changes and or new business applications, networks and databases to align technology to the business needs.
Mr. Brull received a BBA in Marketing from Fort Hays State University, and an MBA with dual concentrations in MIS and Entrepreneurial Management from Baylor University.
Mischelle C. Smoot - VP Pharmacy Operations
Currently, Mischelle Smoot is the Vice President of Pharmacy Operations for Sigma Rx. Ms. Smoot joined Sigma Rx in 2002. While at Sigma Rx, Ms. Smoot has developed and implemented pharmacy and operations policies and procedures. She maintains regulatory and compliance protocols as required by various state boards of pharmacy. Ms. Smoot also overseas and manages the clinical aspects of respiratory care and medication management for Sigma Rx patients.
Prior to joining Sigma Rx, Ms. Smoot was the General Manager for the Dallas branch of Option Care Enterprises, Inc.. Option Care Dallas is the largest home infusion company in the Dallas-Fort Worth area. During her tenure there she oversaw the design and construction of a new Dallas facility. She had direct responsibility for branch operations and for the consolidation of four acquired infusion companies. She managed this consolidation with minimal service interruptions or employee turnover. Under her stewardship the branch achieved JCAHO accreditation and she was recognized as the regional Beyond Excellence General Manager.
Prior to joining Option Care, Ms. Smoot was the acting General Manager and Director of Pharmacy Services for Baylor Home Infusion Therapy. During her tenure at Baylor, she implemented a new pharmacy software system. Ms. Smoot reengineered the patient intake process and clinical care flow. These process changes improved clinical outcomes and contributed to the achievement of successive accreditation with commendation by JCAHO. Ms. Smoot conducted and participated in several investigational drug studies while at Baylor.
Prior to joining Baylor, Ms. Smoot served as the Clinical Services Manager for Comprehensive Care Center, a division of Coram Healthcare. She had operational responsibilities for nursing and pharmacy departments of this ambulatory infusion clinic. Prior to this appointment she was directly responsible for all clinical and operation aspects of the pharmacy department. Ms. Smoot ensured quality patient care through clinical and customer service programs. While at Coram, she served as a Clinical Advisory Board member, with strategic planning responsibilities. A new pharmacy software system and various investigational drug studies were implemented during her tenure at Coram.
Her pharmacy career began at Parkland Memorial Hospital in Dallas, Texas. Ms. Smoot served as the pharmacist-in-charge for the decentralized pharmacy area in this 800-bed teaching hospital. While at Parkland she participated in professional staff recruitment and development. She served as a pharmacy technician training instructor and nursing education preceptor. In addition to her training responsibilities, she shared in the clinical management of all cardiac and renal transplant in-patients at Parkland.
Ms. Smoot received her Bachelor of Science in Pharmacy from the University of Texas in 1989. Ms. Smoot is a registered pharmacist licensed to practice pharmacy in Arkansas, Tennessee and Texas. Licenses to practice pharmacy are pending in Louisiana, Michigan and Nebraska. Ms. Smoot serves as a pharmacy preceptor for the Texas State Board of Pharmacy as well as the University of Texas at Austin. She is certified in IV sterile compounding. As well, she instructs and certifies technicians and pharmacists semi-annually in IV sterile compounding. She is an active member of the American Society of Health-System Pharmacists.
DTEC SEC, Inc.-Sigma Medical to Acquire Pharmacy Distributors Group - Tue, Aug 3 - Business Wire
DTEC SEC, Inc.-Sigma Medical-to Acquire North America Drug - Tue, Jul 20 - Business Wire
DTEC SEC, Inc. Completes Merger with Sigma RX, L.P. - Thu, Jul 8 - Business Wire
DTEC SEC, Inc. Announces Letter of Intent to Merge with Sigma RX, L.P. - Wed, Jun 16 - Business Wire
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This news release may contain forward-looking statements, which involve risks and uncertainties. Accordingly, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company. These factors include the Company's success in its business and operations; the activities of new or existing competitors, the ability to attract and retain employees and strategic partners, the ability to leverage intangible assets, the ability to complete new projects at planned costs and on planned schedules and adoption of the Internet as a medium of commerce, communications and learning. Investors are also directed to consider other risks and uncertainties discussed in documents filed by the company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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