SOURCE: Nutranomics Inc.

Nutranomics Inc.

October 07, 2015 08:00 ET

Dr. Edward Eyring Appointed to Chief Executive Officer of Nutranomics

Outgoing CEO, Michael Doron, Supports Eyring's Appointment to Provide Greater On-Site Management of Nutranomics Product and Distribution Development; Dr. Eyring Also Assumes CFO Role to Quantify Pricing and Costing Inefficiencies and Rebuild Sales Network of Nutranomics®-Branded Products

DRAPER, UT--(Marketwired - Oct 7, 2015) - Nutranomics, Inc. (OTC PINK: NNRX) ("Nutranomics" or "The Company"), a diversified nutraceutical formulator, supplement manufacturer and marketer of Nutranomics® health supplements, today announced the appointment of Dr. Edward "Joe" Eyring, past Board certified surgeon and healthcare entrepreneur, to assume CEO responsibilities from Mr. Michael Doron. Neither the Company nor Mr. Doron have cited any issues between parties, and Mr. Doron aided in the recruitment, review and transition of his role to Dr. Eyring.

Dr. Eyring is assuming executive roles and responsibilities as CEO, CFO and President of Nutranomics, Inc., and his appointment was approved by Nutranomics' Chairman of the Board and Founder, Dr. Tracy Gibbs. "As a founder, it is healthy to realize when the expertise in your field of study is greater than your ability to manage a high-growth business and its operations in that same field," began Dr. Gibbs. "This realization prompted us to search for a new CEO in 2014. We are grateful to Michael Doron who provided us valuable insight to acquisition opportunities worldwide; however, we realized that the ability to leverage the value of these acquisitions is based on the continuing strength of our brand and our sales network, which, after many years of fast-paced growth, required revitalization and daily oversight. Having Joe here, full-time, to lead the Company by example, to re-cost current and future products, to reinvigorate a distribution network committed to Nutranomics® and to provide the medical insight to formulate new products is a combination of skills we deem essential at this point in our development."

Edward "Joe" Eyring, II, M.D., 48, is a previous Board-certified colorectal surgeon and successful entrepreneur in the healthcare industry. Dr. Eyring's work in medicine predates his entrance to medical school in the 1980s. His experience in working for naturopathic doctors and an apprenticeship with his father, an orthopedic surgeon himself, who volunteered his expertise to treat orphaned children in developing countries, is credited by Dr. Eyring as the reason for his study of medicine and commitment to healthcare.

Dr. Eyring obtained a BA in Political Science from Emory University and graduated the University of Tennessee Health Science Center College of Medicine in 1994. He completed his internship and residency at the University of Utah School of Medicine in Salt Lake City in 1999, and a fellowship at Ferguson Clinic, Grand Rapids MI, in 2000. During 13 years as a colorectal surgeon, Dr. Eyring helped hundreds of patients survive the effects of colon cancer in the greater Salt Lake City area and has been a Board Member of the American Cancer Society, Utah, for the past 12 years.

As a healthcare entrepreneur, Dr. Eyring gained first-hand knowledge of how rate structures impacted health outcomes; as those without insurance either went into debt or without treatment altogether. This disparity strengthened his resolve to bridge the gap in coverage and provide equal opportunity for anyone to maintain good health. Since 2014, Dr. Eyring has been Managing Director of Domaine Global, LLC. which owns and manages an on-line marketing, fulfillment and customer service platform, NutreaLife®. NutreaLife®'s website and system provide branding and distribution for small to medium-sized nutraceutical companies. From 2010-2013, Dr. Eyring was the Founder, CEO and Chair of Simplify Rx, Inc., a startup company providing patients and doctors in-office dispensing and MTM/clinical pharmacology to facilitate and reduce prescription administration and costs. In 2013, Dr. Eyring served as a Medical Director at Aeromedical Collection Services after which time in 2014, Dr. Eyring founded American Recovery Company, which he has operated until the present date. American Recovery, Inc. helps employers evaluate ERISA law for self-funded employers, prepare for DOL audits, and facilitate reimbursement processing, rates and times for plan holders and employers. From 2004-2013, Dr. Eyring was the founding partner and Medical Director of Physicians Pharmaceutical Services; from 2005-2012, Dr. Eyring was the owner and principal researcher of Synergies Medical Research, LLC; from 2000-2013, Dr. Eyring was a surgeon and Founding Practice Leader at Integrative GI Healthcare, LC; and from 2000-2012, Dr. Eyring was the sole proprietor of the Pelvic Floor Diagnostic Center in Murray, Utah.

"I am fortunate to have the trust of Tracy and support of Michael," began Dr. Joe Eyring, newly-appointed CEO, CFO and President of Nutranomics, Inc. "This is clearly a critical junction for the Company and for our shareholders who have remained steadfast during a difficult time for Nutranomics. As part of my three-month evaluation of the Company's needs, I am certain there is a combination of financial and strategic plans we can implement to reposition Nutranomics in the market and regain the growth momentum characteristic of our past."

The Company and Dr. Eyring have committed to issuing a Shareholder Letter in the next 10 business day to update shareholders on and before October 17, 2015. The Shareholder Letter and update will provide more detail on Company strategies, plans for the immediate and near terms, future growth opportunities and also address shareholder questions recently received by the Company. The letter will be provided in press on financial wires and sent to shareholders who have provided electronic mail addresses to the Company.

About Nutranomics Inc.

Nutranomics, Inc. (OTC PINK: NNRX) has been at the forefront of research and development of nutritional food products since its inception in 1995. In the first years of its operations, Nutranomics provided research and development of supplement formulations and nutraceuticals for domestic and international brands. After developing 100's of successful formulations and patents, Nutranomics developed its own brand of nutraceuticals in 1997, Nurtranomics®, and began to market and sell its products directly to consumers and into retail outlets. Nutranomics maintains customers in the US, Canada, Taiwan, Japan, Singapore, Malaysia, Korea and Poland. 

More than just a health supplement manufacturer, Nutranomics supports the worldwide community of people aiming for a healthy lifestyle by making education a core business philosophy.

Forward-Looking Statements:

Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Nutranomics Inc., to be materially different from the statements made herein.

Contact Information

  • Investor relations contact:
    John Mattio
    Lamnia International for:
    Nutranomics, Inc.
    Main: +1 (203) 885-1058