SANTA ANA, Calif., June 3, 2011 /PRNewswire/ -- AquaStar Holdings,
Inc. (Pink Sheets: RPPR) is pleased to announce that the Company's
wholly-owned subsidiary, SUTIMCo, Inc., has retained the services
of Mr. Ed Ellsworth as Vice
President of Business Development. Mr. Ellsworth will assist
with the development and positioning of the numerous University
conceived technologies that SUTIMCo manages. Mr. Ellsworth, who
comes to SUTIMCo straight from Beckman
Coulter (NYSE: BEC), will be immediately tasked with the
development of the Capwave Enzyme-Linked Immuno-Sorbent Assay
(ELISA) platform technology.
Mr. Ellsworth brings more than 20 years experience in the
diagnostic and life science industry with a focus on
commercializing and advancing technology across the life science
continuum. Mr. Ellsworth has numerous years with Beckman Coulter, a leader in the Biotechnology
Industry with over $3.7 billion in
revenue for 2010, where most recently he was responsible for
operational marketing and business management of the
immunochemistry, hematology, chemistry and rapid diagnostic testing
products for the channel business. In addition, Mr. Ellsworth
directed the distributor partnership corporate accounts group
delivering over $100 million in
revenue.
"SUTIMCo is in the forefront of bringing exciting new
technologies to market. I'm delighted to be on the team and I
look forward to working with SUTIMCo management," stated
Ed Ellsworth, Vice President of
Business Development of SUTIMCo, Inc.
"Ed's appointment further deepens our understanding of the
diagnostic and life science industry and will be a tremendous
contribution as we develop our client companies," stated
Malcolm Lennie, President of
AquaStar Holdings, Inc. "He comes with extensive, real-life
understanding of technology commercialization that will be a
valuable asset to the Company."
For more information on SUTIMCo, its portfolio companies, and
University partners, please visit; http://www.suti.com
About AquaStar Holdings, Inc.:
AquaStar Holdings, Inc. is a holding company, which utilizes a
unique and established platform to launch new technology
enterprises based on world-class university research discoveries.
AquaStar Holdings, through its wholly owned subsidiary SUTIMCo,
Inc., provides experienced management to early stage companies,
reducing risk and assuring the know-how in launching and growing a
new company. In addition to this skilled management team, AquaStar
Holdings can avail itself of the encyclopedic, informal knowledge
of the inventor, his experience and his research team.
Safe Harbor: Statements regarding financial matters in this
press release other than historical facts are "forward-looking
statements" within the meaning of section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, technology efficacy and all other forward-looking
statements be subject to the safe harbors created thereby. The
Company is a development stage company who continues to be
dependent upon outside capital to sustain its existence. Since
these statements (future operational results and sales) involve
risks and uncertainties and are subject to change at any time, the
Company's actual results may differ materially from expected
results
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SOURCE AquaStar Holdings, Inc.