Daxor Corporation Announces an Increased Dividend and the Appointment of Michael Feldschuh as President and Chief Executive Officer on a Temporary Basis
NEW YORK, NY--(Marketwired - Dec 10, 2015) - Daxor Corporation (NYSE MKT: DXR), an investment company with medical instrumentation and biotechnology operations, announced the payment of a dividend today along with the appointment of Michael Feldschuh, currently Executive Vice President, as President and Chief Executive Officer on a temporary basis.
The Board of Directors has unanimously approved an increase in the annual dividend payment for 2015, to $0.04 per share. This dividend will be paid on Tuesday, December 29, 2015, to Daxor shareholders of record on Tuesday, December 22nd.
Dr. Joseph Feldschuh, President and CEO of Daxor, announced that he will take a medical leave of absence effective on Monday, December 14, 2015. Michael Feldschuh, currently the Executive Vice President at Daxor, will assume the position of President and Chief Executive Officer on an interim basis, for the duration of Dr. Feldschuh's temporary leave. Dr. Feldschuh said that he will be undergoing a surgical procedure in the near future to treat an upper gastrointestinal adenocarcinoma detected via CT scan, stating, "I feel fortunate that my internist is very thorough and, in a routine examination, detected what we believe to be an early-stage and fully resectable growth. I am confident in Michael Feldschuh, who has served as the second-most senior executive at the company for the past year, has driven the restructuring effort, and is closely familiar with all aspects of the company's operations."
Michael Feldschuh served as a member of the Board of Directors for one and a half years prior to joining Daxor's executive team in December of 2014 and has over 25 years of experience on Wall Street and in the medical field. Michael served as a Managing Director and Portfolio Manager for Morgan Stanley for six years and a Managing Director of Millennium Partners for eight years in addition to leading his own hedge fund, Aristarc Capital, from 2009 to 2013. Upon accepting the interim CEO appointment, Michael stated, "We all wish Dr. Feldschuh a speedy recovery, and will continue to execute on the exciting opportunities we have been working toward with our hospitals and new partners in the health care field."
Daxor manufactures and markets the BVA-100 Blood Volume Analyzer, which is used in conjunction with Volumex, Daxor's single-use diagnostic kit. The BVA-100 provides key information that can be used to diagnose and treat various medical conditions including congestive heart failure, hypertension, anemia, blood loss during surgery, trauma, and shock (collapse of blood pressure). At the present time, physicians often must treat these conditions by guessing as to the degree of volume expansion or contraction. The Blood Volume Analyzer allows precise, direct measurement of the patient's total blood volume and red blood cell volume, removing the guesswork. Appropriate therapies can then be employed to correct the excess or deficit in volume, leading to better outcomes.
To learn more about Daxor, please visit www.Daxor.com.
