HALIFAX, Oct. 31, 2014 /CNW/ - Steve Nicolle, CEO of STI Technologies Limited (STI) will be stepping down from his role at the end of the year. Effective January 1, 2015, Tim Gillis will be succeeding Mr. Nicolle, who will continue to serve on the Company's Board of Directors.
Having worked for STI since 2010, Gillis currently holds the positions of Chief Financial Officer and Vice President of Operations. "Tim has worked closely with me for the past 4 years and knows the business extremely well. Together we completed one of the largest investments in the region with a $17M investment from Imperial Capital Group in 2013," said Mr. Nicolle.
Nicolle has been CEO of STI since 2010 and has overseen the Company's significant growth from a local start-up to one of Canada's leading healthcare IT companies. "Under Steve's leadership, STI's revenue has grown by over 500%, and the company has been recognized for four consecutive years as one of the Best Companies to Work in Atlantic Canada," said Mr. Gillis.
Diagnosed with Multiple Sclerosis in 2012, Nicolle is passionate about the patient support programs that STI creates for pharmaceutical companies. "Now being one of 100,000 Canadians with MS, I appreciate first-hand how important it is to have access to the best medications available", said Nicolle, "My MS was a catalyst for the timing of this decision but the transition of leadership to Tim Gillis was planned well before my diagnosis."
Formerly, Gillis held senior positions with a number of successful companies including Stantec, Ernst & Young, Clarke Inc., and Clear Picture Corporation and has been active in our community as a former board member of Halifax's United Way for nearly 10 years. "We build the most innovative programs to connect patients to their health care and medications," said Gillis, "The future of the Company is to build on these initiatives with our pharmaceutical partners; further improving health care in Canada – one patient at a time."
"Tim's credentials speak for themselves. He is the right person to take STI to the next level", said Justin MacCormack, head of Healthcare Investing for Imperial Capital and a member of STI's Board of Directors.
About STI Technologies Limited
STI Technologies Limited is the largest intelligent reimbursement solutions provider to the Canadian healthcare industry, implementing innovative programs on behalf of major pharmaceutical companies. STI's flagship solution, innoviCares, is a free supplementary benefit plan that provides coverage for nearly 100 medications and healthcare products, providing patients with greater choice and access. InnoviCares covers up to the difference in cost between many brand-name medications and their generic alternatives.
SOURCE: STI Technologies Limited
For further information: Erin Solomon, Marketing Associate, Tel: (902) 442-2071, E-mail: [email protected]