Close

Nephros Announces Retirement of Chairman

RIVER EDGE, NJ, December 30, 2015 /Businesswire / — Nephros, Inc. (OTCQB:NEPH), a commercial stage medical device company that develops and sells high performance liquid purification ultrafilters and an on-line mid-dilution hemodiafiltration system for the treatment of chronic renal failure patients, announced today that the company’s Chairman, Lawrence Centella, has decided to retire from the Nephros Board of Directors, effective December 31, 2015.

Mr.Centella, 74, has been the Chairman of the Board since April 2015, and a member of the Board of Directors since January 2001. Mr. Centella has a long distinguished list of accomplishments in the renal-care industry, most recently serving, from 1998 to 2015, as President of Renal Patient Services, LLC, a company that owned and operated dialysis centers. Previously, he served as Executive Vice President and Chief Operating Officer of Gambro Healthcare, Inc., as President and Chief Executive Officer of Gambro Healthcare Patient Services, Inc. (formerly REN Corporation), as President of Gambro/COBE Renal Care, Inc., Gambro Hospal, Inc., LADA International, Inc. and Gambro, Inc.

“After spending 51 years in the healthcare industry, most of which in the dialysis space, I have decided to fully retire,” said Lawrence Centella, Chairman of the Board of Directors. “With the new additions to the Nephros board over the last six months, and the placement of Daron at the helm, I feel comfortable that the company is well-positioned for success in 2016 and beyond.”

“On behalf of our employees, our board and our shareholders, I want to thank Larry for his service to Nephros over the last 15 years,” said Daron Evans, President and CEO of Nephros. “Larry’s passion for patients and expertise in business provide a role model for us all. He will be missed, but we fully support and understand his desire to spend more time with his family.”

About Nephros, Inc.

Nephros is a commercial stage medical device company that develops and sells high performance liquid purification filters, as well as a hemodiafiltration system for the treatment of patients with end stage kidney disease.  Its filters, which it calls ultrafilters, are used primarily in medical applications. Nephros ultrafilters are used by dialysis centers for the removal of biological contaminants from the water and bicarbonate concentrate feeding hemodialysis devices. Additionally, Nephros ultrafilters are used in hospitals and medical clinics as an aid in infection control by retaining bacteria (i.e. Legionella, Pseudomonas), virus and endotoxin from water used by patients.

For more information about Nephros, please visit the company’s website at www.nephros.com.

Forward-Looking Statements

This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements including statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words.  Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Nephros Inc.’s reports filed with the U.S. Securities and Exchange Commission, including with respect to Nephros, its Annual Report on Form 10-K for the year ended December 31, 2014.  Nephros, Inc. does not undertake any responsibility to update the forward-looking statements in this release.

Contact:

Investor:

PCG Advisory Group

Kirin M. Smith, Chief Operating Officer

Direct: 646-863-6519

www.pcgadvisory.com