FITCHBURG, MA--(Marketwire - July 18, 2011) - Arrhythmia Research Technology, Inc. ("Arrhythmia" or the "Company") (NYSE Amex: HRT) today announced the retirement of Dr. Julius Tabin (91) from the Company's Board of Directors and his appointment as the Company's first Director Emeritus, effective immediately. Dr. Tabin has served as a Director since the Company's inception in 1981.
The Board created the new title of Director Emeritus to allow a retiring director to continue providing specific and immediate value to the Company on relevant issues. Retiring board members who have served for a minimum of 15 years can be elected as a Director Emeritus in recognition of contributions during his tenure on the Board of Directors and in appreciation for loyal and dedicated service.
"The entire Arrhythmia Board, management and our dedicated employees extend their heartfelt gratitude to Julius for his many years of dedicated service, wisdom and friendship", commented E.P. Marinos, the Company's Chairman of the Board. "His judgment and integrity helped guide Arrhythmia in its evolution from a start-up to a diverse software, medical device and services company. We are pleased to have Julius remain as a Director Emeritus given his deep understanding of our business that he acquired serving as a Director for over 30 years."
Dr. Tabin is a graduate of the University of Chicago (B.S., 1940; Ph.D. Physics, 1946) and Harvard Law School (LL.B., 1949). Following receipt of his PhD, he served as an integral member of the Manhattan Project, carrying out a series of experiments and studies as part of Enrico Fermi's personal team at Los Alamos. These included building a small reactor in Omega Canyon to determine the effective radius of the uranium nucleus and measuring the efficiency of the first atomic test blast at Alamogordo. He also worked with Manhattan Project team member Luis Alverez to design detectors to be flown over Germany to determine whether nuclear fuel was being refined there. Following World War II, he received his law degree from Harvard Law School and served as a partner in the law firm of Fitch, Even, Tabin & Flannery in Chicago until his retirement from the practice of law in June 2006. His practice focused on client counseling, litigation, and licensing in the areas of patents, trademarks, copyrights, trade secrets, related contract, and antitrust law. In addition, among Dr. Tabin's many accomplishments, was the development of a corner-reflector mirror device. This device, left on the lunar surface during an Apollo mission, has enabled the use of lasers to measure the distance between the Earth and moon to within inches, by timing the time it takes for the journey of the beam.
About Arrhythmia Research Technology, Inc.
The Company through its wholly-owned subsidiary, Micron Products, Inc., manufactures silver plated and non-silver plated conductive resin sensors and distributes metal snaps used in the manufacture of disposable ECG, EEG, EMS and TENS electrodes. Micron's MIT division provides end-to-end product life cycle management through a comprehensive portfolio of value-added services such as design, engineering, prototyping, manufacturing, machining, assembly and packaging. MIT manufactures custom injection molded products for medical, electronic, industrial and consumer applications, and provides high end mold design, manufacturing and precision machining for various industries. The Company's wholly-owned subsidiary, RMDDxUSA Corp. and its Canadian subsidiary, RMDDx Corporation, branded "WirelessDx", is a development stage organization dedicated to the development and commercialization of medical devices and services, medical information technology, medical diagnostics and remote patient monitoring through wireless, internet and telecommunication technologies. The Company's products also include a customizable proprietary signal-averaging electrocardiography (SAECG) software used in the detection of potentially lethal heart arrhythmias that is reconfigurable for a variety of hardware platforms.
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Forward-looking statements made herein are based on current expectations of the Company that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. The factors that could cause actual results to differ materially include: our ability to maintain our current pricing model and/or decrease our cost of sales; continued availability of supplies or materials used in manufacturing at competitive prices; volatility in commodity and energy prices and our ability to offset higher costs with price increases; the costs inherent with complying with new statutes and regulations; variability of customer delivery requirements; our ability to efficiently integrate future acquisitions and other new lines of business that the Company may enter in the future. More information about factors that potentially could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2010.