Psychemedics Corporation Announces New Vice President, Sales and Marketing

ACTON, Mass., May 02, 2018 -- Psychemedics Corporation (NASDAQ:PMD) announced the appointment of Charles M. Doucot as the Company's Vice President, Sales and Marketing.  Mr. Doucot will be responsible for global sales and marketing activities and be a key member of the management team, building on the Company's strategic plan.

Mr. Doucot brings to Psychemedics Corporation broad experience in sales, strategy and marketing, as well as strong leadership skills.  During a 15-year career at Hewlett Packard Company, Mr. Doucot held numerous sales, strategic alliances, and leadership positions in HP’s first multi-vendor software only sales force with responsibility for both domestic, as well as global programs.  Following HP, Mr. Doucot spent the last 15 years in senior General Management and Business Development roles with Sybase, IDS Scheer, Kalido and Lumesse where he innovated new go to market models focused on new customer acquisition and customer success. Mr. Doucot has a Bachelor of Science in Electrical Engineering from Northeastern University and completed the one year General Manager Program at Harvard Business School.

Raymond C. Kubacki, Chairman, President & CEO stated:

"We are extremely excited about having Charlie join our team.  Charlie's experience working with Fortune 500 Companies and strong leadership skills, coupled with his high energy level are a winning combination that will serve our clients well. We also believe his experience in highly competitive markets including Saas, Big Data, Human Capital Management and Analytics, will bring new perspectives to accelerate Psychemedics’ growth as the global leader and pioneer of drugs of abuse hair testing."

Contact:                                                                    
Raymond C. Kubacki
Chairman, President & CEO
(978) 206-8220
[email protected]

Psychemedics Corporation is the world’s largest provider of hair testing for the detection of drugs of abuse. The Company’s patented process is used by thousands of U.S. and international clients, including over 10% of the Fortune 500 companies, for pre-employment and random drug testing. Major police departments, Federal Reserve Banks, schools, and other public entities also rely on our unique patented drug testing process. We strongly believe our drug testing method to be superior to any other product currently in use, including traditional urine testing and other hair testing methods.

The Psychemedics web site is www.psychemedics.com.

Cautionary Statement for purposes of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995:  From time to time, information provided by Psychemedics may contain forward-looking information that involves risks and uncertainties.  In particular, statements contained in this release that are not historical facts (including but not limited to statements concerning earnings, earnings per share, revenues, cash flows, dividends, future business, growth opportunities, profitability, pricing, new accounts, customer base, market share, test volume, sales and marketing strategies, U.S. and foreign drug testing laws and regulations and the enforcement of such laws and regulations, required investments in plant, equipment and people and new test development) may be "forward looking" statements.  Actual results may differ from those stated in any forward-looking statements.  Factors that may cause such differences include but are not limited to risks associated with the development of markets for new products and services offered, costs of capacity expansion, U.S. and foreign government regulation, including but not limited to FDA regulations, Brazilian laws and regulations, proposed laws and regulations, R&D spending, competition (including, without limitation, competition from other companies pursuing the same growth opportunities) and general economic conditions and other factors disclosed in the Company's filings with the Securities and Exchange Commission.  The forward-looking statements contained herein speak only of the Company's expecta­tions as of the date of this press release. The Company express­ly disclaims any obligation or undertaking to release publicly any updates or revi­sions to any such statement to reflect any change in the Company's expectations or any change in events, conditions, or circumstances on which any such statement is based.