Premier Diagnostic Health Services Inc.

Premier Diagnostic Health Services Inc.

February 14, 2011 18:20 ET

PDH Announces the Formation of a Transition Management Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2011) -


Premier Diagnostic Health Services Inc. (CNSX:PDH) is pleased to announce the formation of a Transition Management Team (TMT), to be led by Larry Straith, C.A. The TMT members are PDH Directors Denis Tusar, John Smith and Ken Tolmie, joined by Larry Straith and Ross Greenwood.

PDH has met its stated goals of going public, and launching scanning centres in Burnaby, B.C. and Beijing, China. However, the Board has not been satisfied with the pace of progress. The volume of scans and revenues has been growing at both centres, but the Board believes that both volume growth and agreements respecting new initiatives have taken too long. The Board believes that faster growth can be achieved in future.

As today authorized by the Board, the Team is charged with accelerating the Company's rate of growth and ensuring effective focus on the interests and concerns of PDH's shareholders. During the period leading up to PDH's Annual General Meeting, scheduled for March 29, 2011, the Transition Management Team will be working to ensure that the required plans and resources, both human and financial, are in place to accelerate growth and build shareholder value. The Team will focus on plans that are results-oriented.

The Board is pleased with the addition of Larry and Ross to the Team, and welcome their fresh perspectives. Both bring over 30 years of professional experience in change management, strategy formation, marketing, HR, operations, and performance management.

PDH advises that at the Annual General Meeting the Company will be proposing an expanded Board of Directors to be populated with a majority of well-qualified and experienced independent Directors. The Board believes that this will ensure proper governance, and strategies and implementation that best serve PDH stakeholders' interests.

PDH also advises that the Board has reluctantly accepted the resignation of Ian Turner as a Director and Officer. Ian has agreed to continue as a senior employee as Premier continues its transition from a privately-held company to a more effectively governed and managed public company.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Premier.

About Premier Diagnostic Health Services Inc. ("PDH")

The Company is engaged in developing and operating diagnostic imaging clinics in Canada and China, with a focus on PET-CT Scanning ("Positron Emission Tomography – Computed Tomography"). Premier is committed to providing the latest technology to enhance health options and owns and operates the first and only private PET-CT clinic in Western Canada as well as an MRI clinic in collaboration with Beijing AP Hospital No. 3 in China. The Centre for Advanced Diagnostics in Burnaby offers access to the most advanced medical imaging technology available in cancer care today, and is dedicated to meeting today's healthcare needs through delivering exceptional patient care.

The Canadian National Stock Exchange has neither approved nor disapproved the contents of this press release.

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