SOURCE: Vicor Technologies, Inc.

Vicor Technologies, Inc.

January 06, 2011 08:30 ET

Vicor Technologies Elevates Chief Accounting Officer Thomas Bohannon to Chief Financial Officer

BOCA RATON, FL--(Marketwire - January 6, 2011) - David H. Fater, CEO of Vicor Technologies, Inc. (OTCBB: VCRT), today announced that Thomas J. Bohannon, Chief Accounting Officer, has been appointed to serve as Vicor's Chief Financial Officer, effective as of January 1, 2011. Vicor Technologies, Inc. is a biotechnology company focused on the development of innovative, non-invasive medical devices using its patented, proprietary PD2i® nonlinear algorithm and software. Vicor is currently in the process of commercializing diagnostics that enable physicians to accurately risk stratify specific target populations for future pathological events, including cardiovascular disease patients for death resulting from arrhythmia or pump failure, diabetics for the presence of diabetic autonomic neuropathy (DAN), and trauma victims for imminent death absent immediate lifesaving intervention.

Mr. Bohannon has assumed the responsibilities of CFO, which include working closely with Mr. Fater, and Vicor's Board of Directors and investment bankers in structuring and managing the Company's capital funding requirements. He will also continue to perform the duties of Chief Accounting Officer; Mr. Bohannon became Vicor's Chief Accounting Officer in December 2008. Mr. Bohannon succeeds Mr. Fater, who has served as CFO since joining Vicor in 2002. Mr. Fater will continue to serve as the CEO and Chairman of the Board.

"Tom has been a tremendous benefit to Vicor during its evolution from a development-stage company to a revenue-generating public entity. We are fortunate to have him continuing with the Company as CFO and confident that his extensive experience and diligence will continue to be a valuable asset to Vicor as we continue our transition to a commercial enterprise," stated Mr. Fater.

Mr. Bohannon has 40+ years of experience as an accountant and financial officer. Prior to joining Vicor as Chief Accounting Officer in 2002, he was an independent consultant serving as the financial officer for a variety of companies in the Southeast United States. Earlier, he was partner in charge of audit and review services for Pappadakis, Nelson & Bohannon, following a 10-year stint as a senior manager with Ernst & Young in Atlanta, where he specialized in financial and SEC reporting. Mr. Bohannon was a board member and Treasurer for Lutheran Counseling Services for more than ten years. Additionally, he was a board member and former president of The Cottage School, a board member and former Director of the Atlanta Jaycees, a member and former Vice President of Perimeter Center Kiwanis. He served three terms on the Council of Lutheran Church of the Redeemer. He holds an MBA with a Concentration in Accounting and a BS in Economics from Auburn University. He is a Certified Public Accountant licensed in Georgia.

About Vicor Technologies, Inc.
Vicor Technologies is a biotechnology company creating innovative non-invasive diagnostics employing its patented, proprietary point correlation dimension algorithm (PD2i®). The PD2i® nonlinear algorithm is a deterministic, nonlinear measure of electrophysiological potentials that predicts future pathological events with a high degree of accuracy in target populations.

Vicor currently has three products employing the PD2i® nonlinear algorithm. The PD2i Analyzer™, which has FDA 510(k) marketing clearance, measures heart rate variability; physicians performing diagnostic tests with the PD2i Analyzer™ are able to receive reimbursement under existing CPT codes. The PD2i VS™ (Vital Sign), in clinical trials under a collaborative effort with the U.S. Army Institute for Surgical Research (http://www.usaisr.amedd.army.mil/), risk stratifies combat and civilian trauma victims. The PD2i CA™ (Cardiac Analyzer), in multiple clinical trials, identifies patients at risk of cardiac death.

Vicor anticipates additional applications employing the PD2i® nonlinear algorithm to enable early detection and risk stratification for a variety of other disorders and diseases. Additional information is available at www.vicortech.com.

Disclaimer
The appearance of name-brand institutions, such as the U.S. Army Institute for Surgical Research, in this media release does not constitute endorsement by institutions of the information, products or services contained therein.

Caution Regarding Forward-Looking Statements
Forward-looking statements in this press release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The following factors, among others, could cause our actual results to differ: our ability to successfully complete the normal range study for PD2i® values; our ability to generate revenues from the sale of the PD2i Analyzer™; our ability to obtain FDA approval of our 510(k) submission to secure a marketing claim for the PD2i CA™(Cardiac Analyzer) for testing patients for cardiovascular disease and our ability to obtain marketing clearance from the FDA for the PD2i VS™ (Vital Sign) for military and civilian applications; our ability to obtain the necessary regulatory approvals to market in the People's Republic of China; our ability to develop additional applications for the PD2i® algorithm; our ability to continue to receive financing sufficient to continue operations and complete critical clinical trials; our ability to continue as a going concern; our ability to successfully develop products based on our technologies; our ability to obtain and maintain adequate levels of third-party reimbursement for our products; the impact of competitive products and pricing; our ability to receive regulatory approval for our products; the ability of third-party contract research organizations to perform preclinical testing and clinical trials for our technologies; the ability of third-party manufacturers to manufacture our products; our ability to retain the services of our key personnel; our ability to market and sell our products successfully; our ability to protect our intellectual property; product liability; changes in federal income tax laws and regulations; general market conditions in the medical device and pharmaceutical industries; and other matters that are described in Vicor's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and subsequent filings with the Securities and Exchange Commission. Forward-looking statements in this press release speak only as of the date of the press release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ.

Release 11-02

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