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Mr. Kochanski joins the company from Lordi Consulting LLC, where he hasserved as Director since 2007.
"Jerry has a proven track record as a chief financial officer, and we willlook to his expertise to help guide our financial and business strategy," saidNorman J. Barta, Chief Executive Officer of Nephros. "His wealth of experiencein helping to run several businesses combined with his knowledge of theinvestment community, industry accounting requirements and SEC compliance willbe significant assets as our team continues to advance our strategic vision."
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"I look forward to becoming a key contributor to Nephros's future growth,"said Mr. Kochanski. "Nephros's efforts to develop new and improved filtrationsystems for medical and field use are indeed exciting, and I'm anxious tostart working with the other members of the Nephros team to maximize theCompany's potential."
Mr. Kochanski is a Certified Public Accountant with over thirty years ofexperience in finance and accounting. Mr. Kochanski has a strong track recordworking with growing companies, and has played a key role in several majorcorporate collaborations, successfully completing public and private financialtransactions.
Since February of 2007, Mr. Kochanski held the position of FinancialConsultant Director at Lordi Consulting LLC. Prior to his tenure at Lordi, hespent three years with American Water Enterprises, Inc. as Chief FinancialOfficer. From 1998 through 2004, Mr. Kochanski was the Chief Financial Officerfor Scanvec Amiable Limited. From 1991 to 1998 he was the Chief FinancialOfficer for Marketing Technologies, Inc. Prior to 1991, Mr. Kochanski heldvarious financial positions at Gist-Brocades Food Ingredients, Inc., KeystoneFranklin, Inc. and Airshields, Inc. Mr. Kochanski started his career and spentthree years in public accounting at Price Waterhouse & Co. Mr. Kochanskiearned his Bachelor's degree and MBA from LaSalle University and is aCertified Public Accountant.
Mark Lerner has stepped down as Nephros's Chief Financial Officer topursue other interests. "We thank Mark for his work and his contributions toNephros during a challenging transitional period, and wish him well in hisfuture endeavors," said Mr. Barta.
About Nephros, Inc.
Nephros, Inc., headquartered in New York, is a medical device companydeveloping and marketing products designed to improve the quality of life forthe End-Stage Renal Disease (ESRD) patient while addressing the criticalfinancial and clinical needs of the care provider. ESRD is a disease statecharacterized by the irreversible loss of kidney function. The Nephros HDFsystem is designed to remove a range of harmful substances more effectively,and more cost-effectively, than existing ESRD treatment methods; particularlywith respect to substances known collectively as "middle molecules." Thesemolecules have been found to contribute to such conditions as dialysis-relatedamyloidosis, carpal tunnel syndrome, degenerative bone disease and,ultimately, mortality in the ESRD patient. Nephros products are sold anddistributed throughout Europe and are currently being used in over fiftyclinics in Europe.
Nephros also markets a line of water filtration products, the Dual StageUltrafilter (DSU). The Company's patented dual stage cold sterilizationUltrafilter has the capability to filter out bacteria and, due to itsexceptional filtration levels, filter out many viruses and parasites. The DSUproprietary design provides dual-stage filtration which reduces the risk offiltration failure. With an initial focus on health care, the DSU is in apilot-use program at a major U.S. medical center and has been selected forfurther development by the U.S. Marine Corps.
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