Premier Diagnostic Health Services Inc.
CNSX : PDH

Premier Diagnostic Health Services Inc.

September 08, 2014 09:00 ET

Premier Diagnostic Health Services Inc. Announces New President and CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 8, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) is pleased to announce the appointment of Sanjeev Parsad as President and CEO effective September 1, 2014. Mr. Parsad's appointment follows the resignation of Premier's founding and current President and CEO, Denis Tusar. Mr. Tusar expressed confidence that the Company's new Board members have the vision and skills to take the Company to the next level of a rapidly growing, profitable public company. Mr. Tusar will continue to serve the Company as a director and in the role of CEO of the Company's Chinese subsidiary, Premier Diagnostic (China) Corporation. Mr. Parsad is a director of the Company and served in the role of Chief Operating Officer from June 26, 2014 to September 1, 2014.

Dr. Simon Sutcliffe, the Non-Executive Chair of the Board, acknowledged Mr. Tusar's contributions since Premier's founding and conversion to a public entity: "The Board wishes to extend its thanks to Mr. Tusar for his service to the Company in his capacity as President and CEO. The most recent step of transferring control to successor leaders who can further evolve the enterprise is always a difficult one for a founding leader, and Mr. Tusar has well served the interests of Premier and its shareholders by attracting a team of such leaders."

"Denis had the driven desire to bring private medical diagnostics to British Columbia, and the vision to tap into China's growing need for such services," said Sanjeev Parsad, President and CEO of Premier. "We look forward to Denis expanding Premier's reach in China with the growing team we have based in Asia. During the last few months of reorganization, Premier is now poised to become a profitable, growing, decentralized enterprise, where the focus will be entirely on increasing shareholder value for the long-term."

Mr. Tusar added, "Premier is in transition both in Canada and China. We have overcome many challenges in the past few years and a bright future awaits for our investors and our patients. The Board of directors are an exceptional and diverse group of individuals with the innate ability to support individually and yet grow as a group."

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

PDHS is a Canadian company that provides, through its subsidiaries, advanced medical diagnostic tools using PET/CT technology and/or MRI technology and related diagnostic skills in Canada and in the People's Republic of China, in partnership with local medical professionals, public and private investors, hospitals and clinics. The Company's mission is to provide physicians and other health care professional with exceptional diagnostic information that will assist them in making medical decisions that lead to better outcomes for their patients. The Company's approach involves building long-term relationships regarding management, quality, and financial services that are necessary to build, operate and grow the diagnostic capacity and capability of hospitals and clinics worldwide.

On behalf of the Board of Directors

Simon Sutcliffe, M.D., FRCP, FRCP(C), FRCR, Director and Non-Executive Chair

The Canadian Securities Exchange (CSE) has not reviewed the adequacy or the accuracy of the contents of this document. Company information can be viewed here: www.cnsx.ca. Further information regarding the Company can be found on SEDAR at ww.sedar.com.

Legal Notice Regarding Forward Looking Statements: This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements in this news release include that the Company's new Board members have the vision and skills to rapidly grow the Company, that the Company will be made profitable, that Mr. Tusar will continue to serve the Company as a director and in the role of CEO of the Company's Chinese subsidiary, Premier Diagnostic (China) Corporation, that the successor management team can grow the Company, that Mr. Tusar will expand Premier's reach in China, that the Premier team in Asia will grow, that Premier may become a profitable, growing, decentralized enterprise and that Premier's long-term focus will be entirely on increasing shareholder value. Factors that could cause actual results to be materially different include the actual vision and skills of the Company's new Board and management differing from their perceived vision and skills, inability to make the Company profitable, Mr. Tusar's removal or resignation as director of Premier and/or officer of its subsidiary, inability to grow Premier's market, patient base or team in China and/or Canada as expected or at all, inability of management to make Premier into a growing, decentralized enterprise, and the shift of focus of Premier's management away from shareholder value. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.

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