ROCHESTER, N.Y., July 23, 2014 /PRNewswire/ -- The Board of Directors of VirtualScopics, Inc. (NASDAQ: VSCP), a leading provider of clinical trial imaging solutions, announced today that Eric T. Converse, 48, has been named president and chief executive officer, effective immediately. Mr. Converse joined the company's Board of Directors in August 2013 and has held the positions of interim president and chief executive officer since October 25, 2013.
Dr. Charles E. Phelps, Ph.D., chairman of the company's Board of Directors, said, "During the past nine months, Eric has clearly demonstrated his leadership and team-building skills on a number of fronts and has earned the respect and cooperation from VirtualScopics' senior management team, employees, industry thought leaders and customers. His contributions to the company thus far include: negotiating a global operational and commercialization alliance with IXICO plc, the brain health company, based in the United Kingdom; working closely with VirtualScopics and IXICO senior management to form a joint Scientific Advisory Board to benefit both companies; and the recent opening of a joint office in New Hope, Pennsylvania. The new office is located in the heart of the big pharma corridor, providing project management teams from both companies the opportunity to work more closely with existing and prospective customers to determine their clinical trial imaging needs." Dr. Phelps added, "With the assistance of Korn Ferry, International, the Board of Directors conducted an extensive search that brought forward numerous candidates with strong skills and backgrounds, a number of whom eagerly sought the CEO position at VirtualScopics. In the Board's judgment, the leadership demonstrated by Eric during his term as interim CEO made it clear that he was the best choice to take the Company forward."
Mr. Converse added, "I am very pleased to be working with this team. Our focus on our employees and infrastructure investments has shown early results with increases in customer wins that will ultimately lead to improved shareholder value. As I strongly believe a good team will yield good results, I am extremely excited to continue with this great team and deliver even greater results." Converse continued, "The first six months of 2014 represents the company's best start in terms of bookings and awards outstanding in the history of the company, a testament to the strong commitment and dedication of the entire VirtualScopics team. We are all excited about our recent alliance with IXICO and the many benefits of this relationship that are already coming to fruition."