TORONTO, April 21, 2020 (GLOBE NEWSWIRE) — QuestCap Inc. (“QuestCap” or the “Company”) (CSE:QSC; FRA:34C1) is pleased to announce the appointment of Douglas Sommerville to the role of President of QuestCap’s MedQuest Investment Division. As a veteran leader in the North American medical, pharmaceutical and technology industries, Mr. Sommerville will bring a wealth of experience to QuestCap’s flagship division, and enhance QuestCap’s vision of bringing together industry experts to lead their mission of socially conscious investing.
“We’re thrilled that Doug has agreed to lead the MedQuest team,” said Stan Bharti, Co-chair of QuestCap. “QuestCap is currently focused on making strategic investments in third parties that are conducting research in innovative medical technology and therapies, and Doug is the visionary leader we need to source and evaluate premier projects.”
“As a social-impact investment focused company, QuestCap is investing in new research, effective therapies and innovative testing solutions – some that we hope will contribute to the fight against COVID-19,” commented Mr. Sommerville. “I’m honoured to join this revolutionary team.”
About Douglas Sommerville
Prior to joining QuestCap, Douglas held the role of Head of Country for Canada for Teva Canada, a subsidiary of Teva Pharmaceutical Industries Ltd. (“Teva”), the world’s leading provider of generic medicines. In this role, Mr. Sommerville was responsible for Teva’s third largest global subsidiary, with sales in excess of $1.3 billion. Douglas led all aspects of the company’s commercial, distribution, demand planning and customer operations – aligning and coordinating all company functions, production, supply chain, regulatory and global support functions. Douglas was also the Chairman of the Canadian Generic Pharmaceutical Association up until his retirement from Teva Canada in 2018.
Previous to his tenure at Teva Canada, Mr. Sommerville was Global Vice President, Infusion Systems with Baxter Healthcare International (“Baxter”), one of the world’s largest medical, pharmaceutical and technology companies. In his role, Douglas was responsible for the company’s infusion pumping devices and intravenous administration sets worldwide, as well as pain management and ambulatory infusion devices, working with Baxter’s product development, regional sales and marketing teams globally.
The company is not making an express or implied claims that its product has the ability to eliminate, cure or contain COVID-19 at this time.
About QuestCap Inc.
QuestCap is an investment company that seeks to enhance shareholder value over the long term by opportunistically making various investments that may include, without limitation, the acquisition of equity, debt or other securities of publicly traded or private companies or other entities, financing in exchange for pre-determined royalties or distributions and the acquisition of all or part of one or more businesses, portfolios or other assets.
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G Scott Moore, Co-Chair
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Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s strategic investments in third parties conducting research of innovative medical technology and therapies. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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