FOR IMMEDIATE RELEASE
Medsphere Names Frank Pecaitis as
Vice President of Sales and Marketing
ALISO VIEJO, California, Aug. 2, 2005 - Medsphere Systems Corporation, the leading commercial provider of open source technology for the healthcare industry, announced today that Frank Pecaitis has joined the company's executive management team as Vice President of Sales and Marketing. Pecaitis brings nearly 20 years of healthcare information technology experience to Medsphere, including a proven track record of market share growth with new and emerging products in both privately held and publicly traded companies.
"Frank is a veteran in the healthcare IT industry bringing a wealth of sales, marketing and operations experience to our executive management team," said Larry Augustin, Chief Executive Officer, Medsphere Systems Corporation. "Frank will play a crucial role, helping us to effectively reach out to healthcare organizations that have been traditionally unable to realize the benefits of a cost-effective, comprehensive, and fully integrated electronic health record solution."
Prior to joining Medsphere, Pecaitis spent nearly thirteen years with QuadraMed Corporation (AMEX:QD), a healthcare information technology company, where he most recently served as a corporate officer and Senior Vice President of Client Development. At QuadraMed, Pecaitis was instrumental in creating the overall product strategy, growing the market share and building a national reputation for its flagship Affinity® product. He also managed sales, marketing, client management and federal government business operations functions. Prior to this, he was Vice President of Western Field Sales and the top sales performer with The Compucare Company, which was the original developer of the Affinity® product and subsequently acquired by QuadraMed.
About Medsphere Systems Corporation
As a disruptive force in healthcare information technology, Medsphere is revolutionizing the industry by delivering commercially supported Open Source software based on the U.S. Department of Veterans Affairs' proven VistA EHR. The product of 20-plus years of development and more than $8 billion invested, VistA enabled the transformation of the VA into the nation's most efficient and clinically effective healthcare organization. Currently VistA contains roughly 2.1 billion clinical documents, 2.76 billion orders, and 1.51 billion images. As the commercialized version of VistA, Medsphere's OpenVista is a portfolio of products and professional services for hospitals, clinics and integrated delivery networks. OpenVista is currently used by over 20,000 individuals, including 2,500 physicians and contains hundreds of thousands of medical records. Medsphere addresses healthcare's capital constraints through an innovative business model:
- A unique subscription-based pricing model minimizes upfront costs.
- The Healthcare Open Source Ecosystem and Medsphere.org portal coordinate a unique grassroots community of customers/subscribers, partners and developers driving OpenVista innovation and providing a parallel development and support structure.
- Medsphere's experienced team of healthcare technology professionals and unique suite of implementation tools deliver a fluid transition to a comprehensive healthcare information technology solution.
Founded in 2002, Medsphere is backed financially by Azure Capital Partners, Thomas Weisel Venture Partners and EPIC Ventures (formerly the Wasatch Venture Fund). Medsphere clients include Midland Memorial Hospital, Midland, Texas; West Virginia Department of Health and Human Resources (WV DHHR); Memorial Hospital of Sweetwater County, Rock Springs, Wyoming; Lutheran Medical Center, Brooklyn, New York; and the federal government's Indian Health Service. For more information, visit http://www.medsphere.com and http://www.medsphere.org.
Contacts
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Corporate: Rick Jung Chief Operating Officer Medsphere Systems Corporation (760) 692-3742 (office) rick.jung@medsphere.com |
Media: Lily Eng or Thea Lavin Schwartz Communications for Medsphere (415) 512-0770 (office) medsphere@schwartz-pr.com |