Therapeutic filtration company Nephros Inc. (OTC:NEPH) unveiled a new corporate strategy this week, highlighting the search for a new chief executive to replace acting CEO Dr. Paul Mieyal.
"Nephros’s board of directors thanks Dr. Mieyal for his continued stewardship of the company during this period," said board chairman James Scibetta. "The company believes it is now well positioned to attract top talent for its future growth."
Mieyal took over as acting CEO in April of last year. He has been with the company since January 2001 and has been a director since September 2007.
The River Edge, N.J.-based company develops filtration products for therapeutic applications, infection control and water purification, and won FDA 510(k) clearance to market additional ultrafiltration products filtering out biological contaminants for water and solutions used in hemodialysis procedures.
Other elements of the company’s revamped corporate strategy included preparation to submit a new 510(k) application for its hemodiafiltration system for end-stage renal disease in in the third quarter of 2011, as well as exploration of a military opportunities for its DSU dialysis ultrafiltration system and water purification systems.
Nephros’ first quarter sales slid 6.3 percent as sales slid more than 30 percent during the three months ended March 31.
