Robert Wilson appointed as interim CEO; John Gillberry appointed as
TORONTO, June 10 /CNW/ - The Board of Directors of MedcomSoft Inc.
("MedcomSoft" or "the Company") is pleased to announce that, based on the
completion of the work of the Special Executive Committee, the Board has
commenced implementation of the strategic and leadership changes necessary for
the Company to pursue the opportunities that have been identified in the US
market for its industry leading Practice Management and Electronic Medical
Record (PM/EMR) solutions.
Dr. Sami Aita, the Company's founder, has agreed to step down as CEO and
director but will remain available as an advisor to the Company. To lead this
next stage of the Company's development, the Board is pleased to announce that
Mr. Robert Wilson has been appointed as MedcomSoft's interim CEO subject to
"On behalf of the Company's employees and customers, I would like to
thank Dr. Aita for the valuable contribution that he has made to the Company
since its inception in 1994," noted Robert Wilson, MedcomSoft's incoming CEO.
In January of this year, Dr. Steven Small joined MedcomSoft's board as
Chairman to head a Special Executive Committee to evaluate the market
potential for MedcomSoft Record(TM), the Company's fully integrated suite of
ambulatory PM/EMR software products, and to implement the necessary changes
that would enable the Company to secure effective access to this $6.5 billion
market in the United States. Mr. Robert Wilson was recruited by Dr. Small to
act as expert advisor to this Committee. Mr. Wilson was subsequently given a
mandate to research and develop strategic opportunities for MedcomSoft to form
partnerships with suitable allies in the US Healthcare industry.
"As a result of the work of Dr. Small and the Committee, MedcomSoft has
adopted a new strategic plan, re-aligned its operating structure and
identified the US-based leadership resources and alliances that will be
required to achieve a meaningful share of the US market," added Mr. Wilson.
The appointment of Robert Wilson as new interim CEO with extensive access
to the opportunities in the US health services market marks the successful
conclusion of the mandate undertaken by the Special Committee and Dr. Steven
Small has elected to retire from the Board of Directors of the Company to
pursue other opportunities. The Board has approved Dr. Steven Small's
recommendation to appoint Mr. John Gillberry as interim Chairman to succeed
him in that role. "I strongly believe that MedcomSoft has the products, the
plan and now the leadership to effectively tap the US market, and I wish them
well in this pursuit," noted Dr. Small.
"On behalf of the Board of Directors, I want to thank Dr. Small for his
diligent work and leadership in directing the Board through this transition,"
noted John Gillberry, MedcomSoft's new interim Chairman. "This work has set
down a very clear path for the new management team to follow and we are
grateful for his valued contributions."
The Board has appointed James Haveman and John Radford to fill the
vacancies on the Board, subject to regulatory approval.
James K. Haveman Jr. has a distinguished history of human service
management and volunteer work. From June 2003 to May 2004 he was the Senior
Advisor to the Ministry of Health in Iraq. During his time Jim was also the
Health Advisor to Ambassador Bremer, the Administrator of the Coalition
Provisional Authority in Iraq. Jim Haveman has been the Director of the
Michigan Department of Community Health and Director of the Michigan
Department of Mental Health as part of the Cabinet of Governor John Engler.
Jim also served as the Executive Director of Bethany Christian Services,
the largest child welfare/adoption agency in the United States, the Executive
Director of the Kent County Community Mental Health Program and the Executive
Director of Project Rehab, a substance abuse program located in Grand Rapids.
Jim serves on a variety of Boards including Ferris State University,
International Aid, Youngsoft Inc. and the Defense Business Board of the
Department of Defense. Jim is currently the President of the Haveman Group, a
health and public affairs company. He graduated from Calvin College and holds
a Masters Degree from Michigan State University.
John D. Radford is a leading international sales and marketing executive
with more than 35 years of experience serving the Ford Motor Company in Canada
and the United States. As Ford Canada's Vice President Marketing and
Vice President Sales, John contributed to a $1 billion increase in profits
over a five-year period. Since 2000, John has served as a senior executive and
General Manager with Morguard Investments.
John holds a BA from Wilfrid Laurier University and received
post-graduate training in strategic planning from Duke University. John
received his Institute of Corporate Directors designation from the University
of Toronto's Rotman School of Management in 2008. He has been active on the
Board of Directors of a number of private and not for profit organizations
including Ford Credit of Canada, Sheridan College and Wilfrid Laurier
Robert Wilson is a senior investment banker with more than 20 years and
$3 billion in corporate finance transaction experience. He has served as
Managing Director and Head of Healthcare Corporate Finance for RBC Capital
Markets (Royal Bank Of Canada) , Managing Director Healthcare Corporate
Finance for First Union Securities, and Managing Director and Head of
Healthcare Corporate Finance at Wheat First Securities.
Rob's experience includes public and private equity and debt and merger
and acquisition transactions for a wide range of companies in the
biotechnology, medical technology and healthcare service industries. In
addition, Rob managed the national healthcare venture capital relationships at
all of his prior firms. Rob is currently a Senior Project Director at the
Institute for Human and Machine Cognition (IHMC). Rob received his BS degree
from Vanderbilt University and MBA from University of Virginia Darden School
John Gillberry is a seasoned senior executive with a track record
spanning nearly two decades of success with particular expertise in managing
the finance and operations of venture capital backed enterprises. He has
successfully completed complex transactions including mergers, acquisitions,
cross-border business arrangements and international business agreements and
has held a variety of senior roles ranging from Vice President CEO at a
variety of leading firms including G.A. Finance, RCA Corporation, General
Electric, Thomson SA, Radiant Energy Corporation and Newcourt Credit Group.
John is currently Chief Operating Officer and CFO of Software Innovation
Inc. John sits on several Boards of both public and private corporations and
is active in local and community non-profit organizations. He holds a Masters
Degree in Business Administration from the Ivey School of Business, University
of Western Ontario.
Founded in 1994, MedcomSoft Inc. develops cutting-edge software solutions
for the healthcare industry. MedcomSoft has pioneered the use of numerically
codified point-of-care clinical terminologies to create a new generation of
highly interoperable EMRs, which significantly enhance disease surveillance
and accelerate clinical research. MedcomSoft award-winning software
applications include Electronic Medical Records, physician order entry systems
with e-prescribing, document management, practice management and clinical data
search, data mining and disease surveillance systems. MedcomSoft is the
recipient of the "Best of KLAS" award in 2007 year-end report in the
Ambulatory EMR 1-5 Physicians category. In addition, a MedcomSoft practice was
recently awarded the prestigious 2007 HIMSS Davies Award. www.medcomsoft.com
This news release contains forward-looking statements regarding
MedcomSoft's expectations and beliefs with respect to future events and/or
financial performance. These forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause the actual
events or results to differ materially from those expressed or implied in such
forward looking statements. Such factors and risks include, but are not
limited to, market conditions, competition including price and product
functionality; economic environment; and the ability to develop and deliver
new products in a timely manner. The reader is referred to the documents that
the Company files from time to time with applicable Canadian securities and
regulatory authorities for a discussion on certain risks and uncertainties
that could cause actual results to differ from those projected, anticipated or
implied. MedcomSoft does not undertake to update forward-looking statements.
For further information:
For further information: Investor Contact: John Sadler, Genoa Management
for MedcomSoft Inc., (416) 962-3300 ext.227, email@example.com