SOURCE: Vein Associates of America, Inc.

July 11, 2006 11:00 ET

Vein Associates Names Andrew J. Schenker Chief Financial Officer and Senior Vice President

Over 20 Years of Financial and Management Experience

ORLANDO, FL -- (MARKET WIRE) -- July 11, 2006 -- Vein Associates of America, Inc. (PINKSHEETS: VNAA), a national operator of advanced medical facilities exclusively treating vein disease, announced today that Andrew J. Schenker has been named Chief Financial Officer and Senior Vice President. He will be responsible for managing all financial and treasury functions and conducting internal and industry analysis to support the Company's goals for growth.

Schenker, 46, brings over 20 years of financial and management experience to Vein Associates. Prior to joining Vein Associates, he was the Chief Financial Officer of a specialty coffee company, and CFO of Genio Group, Inc., a toy company listed on the bulletin board. In 2002, he was the President and Chief Operating Officer of CDKnet.com, a public company, as well as a Director of CDKnet.com since May 1998. In addition to his position with CDKnet, he also served as the General Manager - Worldwide Education Marketing Division at Symbol Technologies, Inc., a leader in mobile data management systems and services. He also held several other financial management positions at Symbol Technologies, including Senior Director of Finance for the North America Sales and Services Division. Schenker also served as a Board member of several other small public companies.

Eric Luetkemeyer, Vein Associates CEO, remarked, "We are very pleased to welcome Andrew to our senior management team, and we are confident that Andrew's strong financial and operational background will be instrumental in the development of Vein Associates. As the Company has grown, we have placed a high priority on appointing proven executives to oversee our operations and growth initiatives with the goal of creating long-term shareholder value."

He added, "Growing companies face greater challenges than others, and the need for Andrew's depth of experience is paramount. Beyond managing the financial side of the business, Andrew will be accessible to investors as an integral part of our developing communications strategy. We are confident that our shareholders will be well served with this appointment as well as our staff and patients. Our growth plans will allow us to offer the best possible medical care to an increasing number of patients in both our existing and planned markets."

Schenker said, "I am very pleased to join Vein Associates at this exciting time in the Company's development. With a realistic and ambitious business plan to acquire additional medical treatment centers, Vein Associates is poised to make substantial progress in delivering relief to an increasing number of patients as well as value to shareholders. The Company is in the process of upgrading its financial and patient administrative systems to accommodate the demands that its growth plans will place on it. I look forward to working with Eric Luetkemeyer and the rest of the talented Vein Associates team."

About Vein Associates of America, Inc.

Vein Associates of America, Inc. operates advanced specialty medical facilities exclusively treating vein disease using established and effective modalities while continuing to seek out the newest treatment techniques available. Nationally the company has several facilities in Florida as well as Alabama, Minnesota, New Jersey, South Carolina and Texas. For more information, please visit our website: http://www.noveins.com and Dr. Kingsley's at http://www.alabamavascular.com.

Safe Harbor Statement: Forward-looking statements in this release with respect to Vein Associates Of America, Inc. business, financial condition and results of operations, as well as matters of timing and the prospective terms of the transaction described are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond Vein Associates Of America's control with respect to market acceptance of their technology and/or products, whether financing will be available, the effect of the application of acquisition accounting policies as well as certain other risk factors which are and may be detailed from time to time in Vein Associates Of America's filings with the Securities and Exchange Commission.

Contact Information

  • VEIN ASSOCIATES OF AMERICA, INC.
    Eric Luetkemeyer
    CEO
    407-708-5818

    Media Relations:
    Linda Decker
    Office: 212.564.4700
    Fax: 212.244.3075
    Email: linda@plrinvest.com