TORONTO, May 15, 2013 /CNW/ - Diversinet Corp. (TSX Venture: DIV, OTCQB: DVNTF), a leader in secure mobile health that
"Powers Care Coordination through Mobility," announced today that in an
effort to continue to reduce operating costs and liabilities, it's CEO,
Dr. Hon Pak has agreed to transition from an employee to a consultant
at a reduced rate. He will continue to serve as the company's CEO on a
During Q4 2012 and April 2013, Diversinet undertook a cost reduction
plans that saw costs reduced by $1.25 million on an annual basis. With
the move of Dr. Pak from an employee to consultant, Diversinet has
eliminated the employee severance obligation, valued at $180,000 and
reduced ongoing operating costs. Diversinet is considering further
cost reduction measures as well as strategic alternatives.
Diversinet Corp. (TSX Venture: DIV, OTCQB: DVNTF) provides healthcare
organizations and partners with ultra-secure, patented mobile
technologies and connected health solutions. The company's core
publishing platform supports rapid deployment of secure and
HIPAA-compliant Web-to-mobile applications. Diversinet solutions lead
with an innovative, virtual health wallet designed for patient-centric
engagement to improve care coordination, health outcomes and
resilience. Learn more about Diversinet at www.diversinet.com.
The Private Securities Litigation Reform Act of 1995 and Canadian
securities laws provide a "safe harbour" for forward-looking
statements. Certain information included in this press release (as well
as information included in oral statements or other written statements
made or to be made by the company) contains statements that are
forward-looking, such as statements relating to the success of current
product offerings. Such forward-looking information involves important
risks and uncertainties, including the uncertainty of the company to
continue as a going concern, that could significantly affect
anticipated results in the future and, accordingly, such results may
differ materially from those expressed in any forward-looking
statements made by or on behalf of the company. For a description of
additional risks and uncertainties, please refer to the company's
filings with the Securities and Exchange Commission available at www.sec.gov and Canadian securities regulatory authorities available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. MobiSecure
is a registered trademark of Diversinet Corp.
SOURCE: Diversinet Corp.
For further information:
Chief Financial Officer
416-756-2324 ext. 275