IR-Med Announces Dr. David Dalton as Advisory Board member

Dr. Dalton brings decades of experience as a hall of fame CEO, entrepreneur, pharmaceutical executive and founder of over 40 companies

Rosh Pinna, Israel, Nov. 16, 2022 (GLOBE NEWSWIRE) -- "IR-MED” or the "Company") (OTCQB:IRME), an innovative medical device company that develops non-invasive, real-time detection devices that utilize Infrared Light Spectroscopy (IR) and Artificial Intelligence (AI) for use by healthcare professionals, welcomes Dr. David Dalton to the Company's Advisory Board. As part of the Advisory Board, Dr. Dalton will offer insights on the company's PressureSafe device for the early detection of pressure injuries (PI). Dr. Dalton will support IR-Med with analyzing the benefits of the PressureSafe device for Hispanic and African American populations in the United States, two groups that, according to a study, published on Pubmed.gov, suffer from pressure wounds almost twice as much as the Caucasian population due to late discovery.

Dr. David Dalton is a hall of fame CEO, entrepreneur, pharmaceutical executive, and founder of over 40 companies. He is currently Board Director and Executive Chairman of six companies and leads the chain drug industry as the first black executive. His accolades include being an inductee in three halls of fame and a recipient of the Senatorial Medal of Freedom. Dr. Dalton was also selected by the International Forum on Advancement in Healthcare (IFAH) as one of the "Top 100 Healthcare Leaders" in 2019 and "Top 100 Healthcare Visionaries Award" in 2021.

Among Dr. Dalton's many successes, he is one of the original members and directors of the National Council of Prescription Drug Programs (NCPDP), which is responsible for the standards pharmacies use to transmit prescriptions in the United States. In 1988, he also founded and established the National Minority Health Association (NMHA) not-for-profit organization in Pennsylvania to address the appropriate prescribing of medications to minorities and provide accurate information related to diseases affecting minority communities.

Currently serving as President and CEO of Univec Inc., he oversees the manufacturing and distribution of specialty pharmaceuticals to hospitals, physicians, pharmacies, and clinics. Dr. Dalton previously held senior positions at Rite Aid, Mednet, Medi-Claim, Care Rx, and Bergen Brunswick. He also founded Health Resources, Inc., the first African American pharmaceutical and benefits management company that works with more than 50,000 retail pharmacies to fill prescriptions. The company has been recognized in Black Enterprise Magazine's Top 100 for over 25 years.

"We're lucky to have someone as accomplished and brilliant as Dr. David Dalton on board at IR-Med, who brings with him tremendous experience, knowledge, and deep healthcare industry relationships," said Yoram Drucker, IR-Med Vice President of Business Development. “His work supporting minority health initiatives aligns with one of the main advantages of the PressureSafe device, the ability to detect early PI regardless of skin tone, which may be highly beneficial for the African American and Hispanic communities in the United States and worldwide."

"I'm pleased to contribute to IR-Med's progress to offer a decision support system to caregivers and professionals at nursing homes, hospitals, and even at home-care services," said Dr. Dalton. "Early detection of pressure injuries allows medical professionals to be aware of the patient's situation and make more informed decisions regarding the treatment. PI is a major problem in all hospitalization situations, and statistically, patients in the African American and Hispanic communities are at a higher risk of developing PI since the early signs are not as visible on the patient's skin. IR-Med's device may offer a new decision support tool which could prevent PI and lead to better patient compliance and outcomes."

About IR-MED

IR-MED Inc., is developing a noninvasive spectrographic analysis technology platform, allowing healthcare professions to detect, measure and monitor, in real time, different molecules in the blood, in human tissue, and in body fluids without any invasive procedures. The first product under development is a handheld optical monitoring device that is being developed to support early detection of pressure injuries (PI) to the skin and underlying tissue, regardless of skin tone as it calibrates personally to each patient's skin.

IR-MED's technology is being developed to allow accurate readings of biomarkers in a non-invasive method, that may provide caregiver the optimal decision support-system in cases where uncertainties disturb physicians in their decision processes.

IR-MED holds patents protecting its technology and innovations in the noninvasive tissue analysis, and in the modeling and analysis of subcutaneous tissue.

Safe Harbor Statement / Forward-Looking Statements

Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of IR-Med are subject to many factors including, but not limited to, the sufficiency or working capital and our ability to raise the capital needed to fund our development efforts, completion of the PressureSafe device, results of clinical/useability studies and trials, timing of product development, FDA approval/clearance of products in development, customer acceptance of our products in the market, the introduction of competitive products, the impact of any product liability or other adverse litigation, commercialization and technological difficulties, and the other risks identified in our most recent annual report on Form 10-K filed on March 31, 2022 with the Securities and Exchange Commission. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.

Contacts

Mosh Gerber, Chief Executive Officer

Tel: +972 (0) 4 6555054

Released November 16, 2022