CareView Communications, Inc. ("CareView" or the "Company") (OTCQB:
CRVW), a patient and clinically focused information technology provider
to the healthcare industry, announced today changes to its senior
management team and Board of Directors as follows:
Management Changes
-
Samuel A. Greco is retiring as Chief Executive Officer and Director at
the end of 2013 for health reasons. Mr. Greco will continue as a
consultant throughout 2014 and will use his extensive relationships in
the healthcare industry to support CareView.
-
Steven G. Johnson, the Company’s current President, has also been
appointed as Chief Executive Officer effective January 1, 2014.
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Sandra K. McRee joined CareView as Chief Operating Officer effective
November 1, 2013. Ms. McRee previously served as the Chief Operating
Officer of IASIS from May 2001 until October 2010. She was responsible
for overseeing all aspects of IASIS's hospital operations and was
responsible for overseeing clinical systems; developing an appropriate
mix of quality services, physician relationships, effective staffing
and supply utilization; and managing capital investments related to
operations. Ms. McRee has more than 35 years of healthcare management
experience.
Board Changes
-
Governor Tommy G. Thompson, the Company’s Chairman of the Board and
former head of the U.S. Department of Health and Human Services,
resigned from the Company’s Board of Directors effective December 31,
2013 to take a business development role with the Company working
directly on hospital sales.
-
Allen Wheeler, a Director of the Company since its inception, has been
appointed Chairman of the Board of Directors effective January 1,
2014. Mr. Wheeler has 45 years of experience in the healthcare field
and is an Army veteran of the Korean War.
-
David R. White was elected to the Company’s Board of Directors
effective January 1, 2014. Mr. White served as the Chairman of the
Board and Chief Executive Officer of IASIS from December 1, 2000 to
November 1, 2010 and continues to serve as the Chairman of IASIS’s
Board of Directors. He served as the President and Chief Executive
Officer of LifeTrust, an assisted living company, from November 1998
to November 2000. From June 1994 to September 1998, Mr. White served
as President of the Atlantic Group at Columbia/HCA, where he was
responsible for 45 hospitals located in nine states. He has also
served as Regional Vice President of Republic Health Corporation and
as an Executive Vice President and Chief Operating Officer at
Community Health Systems, Inc. Mr. White earned a B.S. in Business
Administration from the University of Tennessee in Knoxville,
Tennessee in 1970, and an MS in Healthcare Administration from Trinity
University in San Antonio, Texas in 1973. He currently also serves on
the Board of Directors at Corindus, Inc., a robotic medical device
company.
-
Jason T. Thompson, son of Governor Thompson, was elected to the
Company’s Board of Directors effective January 1, 2014. Mr. Thompson
is an attorney and a member of the Transactional Group of Michael Best
& Friedrich LLP where he focuses on mergers and acquisitions and
general corporate matters. Mr. Thompson assists his clients with
negotiating and structuring many types of transactions and agreements,
including those related to corporate reorganizations, buyout
transactions and venture capital investment transactions. He is a
certified public accountant.
"I am eager to assume the additional role of Chief Executive Officer and
wish to thank Sam for all of the contributions he made to the Company,"
Mr. Johnson said. "The addition to the CareView team of Ms. McRee and
Mr. White - both alumnae of IASIS and very well respected executives in
the hospital industry - represents a great step forward for us and will
help further our mission of providing quality and affordable technology
to improve patient care and staff coordination for our clients. We are
also pleased to have Mr. Jason Thompson join our Board of Directors to
bring his expertise on business and transactional matters."
Mr. Johnson continued, "While Governor Thompson is resigning from
CareView’s Board of Directors, he will be working to develop our
strategic initiatives and will provide us with introductions to his
broad range of contacts within the hospital industry."
Additionally, the Company announced that HealthCor Partners Management,
L.P. and HealthCor Hybrid Offshore Master Fund, L.P. (together,
"HealthCor") and CareView executed a binding term sheet wherein
HealthCor committed to make an additional $5 million investment in the
Company in the form of a senior convertible note. The transaction is
expected to close on or before January 14, 2014.
"HealthCor’s additional commitment to CareView will provide us with
sufficient capital to support the roll-out of current and future
customers and the continued expansion of our intellectual property
portfolio," Mr. Johnson said.
About CareView Communications, Inc.
CareView's mission is to be the leading provider of products and
on-demand application services for the healthcare industry by
specializing in bedside video monitoring, archiving and patient care
documentation systems and patient entertainment services. Through the
use of telecommunications technology and the Internet, our products and
on-demand services will greatly increase the access to quality medical
care and education for both consumers and healthcare professionals. We
offer the next generation of patient care through our unique data and
patient monitoring system that connects patients, families and
healthcare professionals (the "CareView System®"). Our proprietary,
high-speed data network system may be deployed throughout a healthcare
facility to provide the facility with recurring revenue and
infrastructure for future applications. Real-time bedside and
point-of-care video monitoring and recording improve efficiency while
limiting liability, and entertainment packages and patient education
enhance the patient's quality of stay. Through continued investment in
patient care technology, we are helping hospitals and assisted living
facilities build a safe, high quality healthcare delivery system that
best serves the patient, while striving for the highest level of patient
satisfaction and comfort. CareView is dedicated to working with all
types of hospitals, nursing homes, adult living centers and selected
outpatient care facilities domestically and internationally. Corporate
offices are located at 405 State Highway 121 Bypass, Suite B-240,
Lewisville, TX 75067. More information about the Company is available on
the Company’s website at www.care-view.com.
Questions about this release may be directed to Steve Johnson,
CareView's President, at (972) 943-6050.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy securities of CareView Communications,
Inc. Certain statements in this release, including those relating to the
expected contributions of Ms. McRee, Mr. White and Mr. Jason Thompson,
the contacts of Governor Tommy Thompson, the HealthCor funding
commitment and the closing thereof, and other written or oral statements
made by or on behalf of the Company, are “forward-looking statements”
within the meaning of the federal securities laws. Statements regarding
future events and developments and our future performance, as well as
management’s expectations, beliefs, plans, estimates or projections
relating to the future are forward-looking statements within the meaning
of these laws. The forward-looking statements are subject to a
number of risks and uncertainties including market acceptance of the
Company’s services and projects and the Company’s continued access to
capital and other risks and uncertainties. The actual results the
Company achieves may differ materially from any forward-looking
statements due to such risks and uncertainties. These statements
are based on our current expectations and speak only as of the date of
such statements. The Company undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result of
future events, new information or otherwise.
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