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Aduromed Closes Restructuring and Raises $3.8 Million of New Equity Capital
Date:8/6/2008

e Partners, a private equity firm with more than $1.5 billion under management. Prior to this he was President and CEO of eResearch Technology, Inc., a leading provider of technology and services to collect, process, and distribute cardiac safety and clinical data for companies in the life sciences industry. During his tenure as President and CEO from 2001 through 2006, eResearch's market valuation grew from $27 million to a peak of $1.5 billion, receiving recognition from Fortune Magazine as the second fastest growing company in America.

"Aduromed today achieved an important milestone event, setting the stage for the Company to emerge as a leader in the medical waste disposal industry, a $2 billion annual market in the US alone," Mr. Esposito commented. "I am excited to assume a leadership role in this organization at this point in its development, and believe that the core assets of the current organization will enable Aduromed to build a more predictable business model that appeals to a broader market."

Mr. Damien Tanaka, founder of the Company, was elected as Vice-Chairman of the Board of the Company and will continue as a director of Company. Mr. Tanaka will be the acting Chief Executive Officer of the Company pending the naming of a new President and Chief Executive Officer which is expected shortly. After such announcement Mr. Tanaka will assume the title of Chief Development Officer and will spearhead the Company's new product developments.

"I welcome Joe Esposito to Aduromed and I am excited to have the opportunity to benefit from his managerial and business development expertise," Mr. Tanaka added. "Over the past decade, Aduromed has developed unique and compelling technology and services to address the $2 billion medical waste industry. With this announcement, Aduromed moves to the next level in this evolution, and we stand poised to emerge as the industry leader with new technologies which we believe will capture market share while e
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SOURCE Aduromed Industries, Inc.
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