Former Accredo Exec Joins Memphis Bioworks™ Foundation

MEMPHIS, Tennessee, September 22, 2006 - Harry Travis, the former COO of the Nova Factor Division of Accredo Health, has been named executive in residence for the Memphis Bioworks Foundation. Travis joins the organization after nearly 20 years in the pharmaceutical and medical device industries.

Steve Bares, president and executive director of the Memphis Bioworks Foundation, says Travis will help the Foundation develop targeted, results-driven initiatives in order to attract new companies to the Memphis area.

“Harry comes to the Foundation with a wealth of experience in the health-care industry, particularly in the areas of logistics and pharmaceuticals,” says Bares. “These are two important industries for Memphis and we welcome the opportunity to utilize Harry’s knowledge and background.”

Accredo is the nation’s largest independent specialty mail-order pharmacy, dealing primarily in bio-engineered drugs that target diseases such as cancer, multiple sclerosis, and enzyme disorders. In addition, the company provides consultation and training to pharmacists, nurses, doctors and insurance reimbursement specialists. Accredo was recently purchased by Medco.

In addition to Accredo, Travis has worked for a number of other pharmaceutical companies, including NSS Cardinal Health, Inc. of Nashville and Baxter Healthcare Corporation in Deerfield, Illinois. His responsibilities included serving as general manger of Cardinal’s specialty distribution subsidiary, and directing product management staff and marketing activities for Baxter’s Parenteral Administration Systems product line.

Travis received his BS in Pharmacy from the University of Pittsburgh and his MBA from the University of Virginia.

He sees his role as executive in residence as an opportunity to give back to the Memphis community.

“The Memphis Bioworks Foundation is an excellent place to get a complete view of everything biotechnology-related in Memphis,” says Travis. “By helping the Foundation with its mission, I can help bring new jobs and opportunities to Memphis.”

As COO of Accredo, Travis has experienced first hand the impact the Foundation is having on Memphis.

“The staff has done a great job of lowering companies’ competitive instincts so that everyone is working together toward a common goal – namely growing the bioscience sector in Memphis to the benefit of all,” he explains. “The Foundation’s ability to obtain resources and cooperation from typically competing businesses is unique. You don’t see that in a lot of other cities.”

One of the primary tasks ahead for Travis will be to develop a plan for better positioning Memphis as a leader in the biologistics field.

“Memphis definitely has the capabilities and reputation to become the biologistics center of the nation. Part of my job will be to create the path to get us there.”

The Memphis Bioworks Foundation, a not-for-profit organization, was formed in early 2001 to establish the Memphis region as an internationally recognized center for biomedical technology through education, research, job training, and commercialization. Baptist Memorial Health Care donated its property in the Memphis Medical Center to the Foundation for the site of the UT-Baptist Research Park, which serves as the focal point of the city’s biomedical economic development.