While there is quite a large amount of net cumulative losses, many expenses and losses have been reduced and revenues are up. From what I've read, the company is serious on better structuring themselves. Looks pretty impressive too.
A good example is this, bringing in a new CEO with a strong successful history:
Wednesday June 3, 12:59 pm Eastern Time
Company Press Release
Peter Gladkin Named President and Chief Executive Officer of APACHE Medical Systems, Inc.
McLEAN, VA--(BUSINESS WIRE)--June 3, 1998--APACHE Medical Systems, Inc. (NASDAQ:AMSI - news), a leading provider of outcomes evaluation and care management products and services, today announced the appointment of Peter Gladkin as President and Chief Executive Officer of the Company effective July 1, 1998.
''Peter Gladkin brings exactly the track record of business success and healthcare experience we were seeking for APACHE,'' said Thomas W. Hodson, Chairman of the APACHE Board of Directors. ''We are very confident in his ability to take advantage of APACHE's recently improved operational performance and lead the Company to a new level of achievement.''
''APACHE's products and services are truly unique in the healthcare industry,'' said Mr. Gladkin. ''The Company is well positioned to address the accelerating market demand for information and services that can quantifiably improve clinical effectiveness, and I look forward to working with APACHE's employees and current and future clients to maximize that opportunity.''
Most recently, Mr. Gladkin, 50, was President and Chief Operating Officer of Health Data Sciences Corporation (HDS), a leading provider of clinical information systems. During that tenure, he successfully guided the repositioning of the company and significantly increased both revenue growth and profitability, while improving customer satisfaction.
Prior to joining HDS in 1994, Mr. Gladkin spent over 20 years at electronics giant Hewlett Packard Company (HP), where he is credited with turning HP's healthcare information systems business into a thriving worldwide enterprise. Mr. Gladkin holds an MBA from Northwestern University, received his BS degree in Chemistry/Physics from the University of Illinois, and has also completed the Executive Management Program of the Harvard University Graduate School of Business.
APACHE Medical Systems, Inc. is the recognized leader in the development of risk- adjustment models, clinical decision support tools and quality improvement programs for the care of high-risk, high-cost patients. The Company's products and services enable health systems, hospitals and providers to apply an evidence-based approach to achieve clinical performance excellence, reduce costs and compete effectively under managed care. Well-known internationally for the APACHE III methodology for critical care, the Company's programs are today helping providers to better manage the clinical, financial and patient satisfaction outcomes of high-risk, high-cost patients in critical, acute, cardiovascular, HIV/AIDS and sub-acute care.
In addition to the Company's clinical performance improvement services, APACHE/National Health Advisors offers strategic and management consulting services to strengthen the competitive position and operating performance of hospitals, health systems and other providers. APACHE's Heath Outcomes Research division provides clinical trial design services and research support for product marketing and disease management programs for the pharmaceutical and medical device industries, as well as government research and database services.
Statements in this press release which are not historical facts are forward-looking statements under provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties. The Company wishes to caution readers that the following important factors, among others, in some cases have affected, and in the future could affect, the Company's actual results and could cause its actual results in fiscal 1998 and beyond to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.
Important factors that could cause actual results to differ materially include but are not limited to the Company's: having sufficient sales and timely collections to meet cash requirements and achieve profitability; ability to attract and retain key employees and to successfully replace its chief financial officer; success of its strategy to concentrate its product offerings on high-risk, high-cost patients; ability to timely develop new products and enhance existing products; ability to compete in the competitive and rapidly evolving healthcare information technology industry; ability to correctly estimate and manage its Year 2000 costs and liabilities; success of its marketing and consulting efforts and ability to effectively utilize its direct sales force; ability to protect proprietary information and to obtain necessary licenses on commercially reasonably terms; and ability to comply with and adopt products and services to potential regulatory changes.
Contact:
Violet L. Shaffer, Vice President of Marketing
703-847-1400, ext. 194
More Quotes and News:
Apache Medical Systems Inc (Nasdaq:AMSI - news)
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