Gary L. Smith to Join Medix as Chief Financial Officer
Medix Resources, Inc. (AMEX: MXR) today announced several
organization changes that will further strengthen and position the
Company for rapid expansion of its customer base.
Structurally, the Company has committed to a strong, regional
focus for disciplined market development. As part of implementing that
strategy, account management and physician deployment has been
transferred from the Cymedix Lynx subsidiary to the Medix parent,
reporting to Corporate Operations and Development. Cymedix Lynx will
continue to manage software and technology development and
maintenance, product distribution support, and the Automated Design
Concepts Web Development product line. John Prufeta, President and CEO
of Medix Resources, stated, "As the iHealth industry continues to
evolve, we believe that intense, high-level focus on the technology
development, sales, account management, and physician deployment
disciplines are essential components to achieving our market
objectives."
Mr. David Pfeil will continue in his roles as Executive Vice
President and Chief Technology Officer of Medix Resources as well as
President and Chief Operating Officer of technology development
subsidiary Cymedix Lynx. As a result of the corporate organizational
changes and related concerns expressed by Mr. Pfeil, the Company and
Mr. Pfeil have agreed to amend the terms of his employment agreement.
The amendment provides both Mr. Pfeil and the Company with flexibility
regarding his future relationship with the Company. Medix will file
the employment contract amendment with a Form 8K with the SEC.
Key Addition to Management. The Company has established a new CFO
position and is pleased to announce that Mr. Gary L. Smith will join
the Company as Executive Vice President and Chief Financial Officer.
Mr. Smith, who is 46 years old, joins Medix from Provident Group, a
financial advisory firm serving companies operating in emerging market
countries, where he was a principal. Previously, Mr. Smith was an
executive of American Express Bank, the international banking arm of
the financial services conglomerate American Express Corporation
(NYSE: AXP), where he held various senior financial positions. He
holds a BS degree in Economics from the Wharton School and an MS in
Accounting and Finance from the London School of Economics.
"I am delighted to welcome Gary to the Medix management team,"
commented Mr. Prufeta. "His background, proven skills and management
attributes will be a decided and important asset to our Company, both
immediately and over the long term. His addition, in tandem with our
new regional strategy and focused assignments, provides Medix with the
strong, disciplined platform to win in the high-energy arena of
Internet healthcare services."
Mr. Smith stated, " I am extremely excited to have the opportunity
to help Medix achieve its mission of building collaborative,
connectivity services for physicians and payors. In today's economy,
there is no more dynamic market sector than combining healthcare
delivery and finance with advanced technologies to achieve
demonstrable cost savings and provide a higher standard of quality
care."
About Medix Resources, Inc.
Medix Resources, Inc. through its wholly owned subsidiary Cymedix
Lynx Corporation is the developer and provider of the Cymedix.com(R)
suite of fully-secure, patented Internet based software products, that
will allow instantaneous communication of high value added healthcare
information among doctor offices, hospitals, health management
organizations and insurance companies. Additional information about
Medix Resources and its products and services can be found by visiting
its Web sites, www.medixresources.com and www.cymedix.com, or by
calling (800) 326-8773.
Information in this press release contains forward-looking statements
that involve risks and uncertainties that might adversely affect the
Company's operating results in the future to a material degree. Such
risks and uncertainties include, without limitation, the ability of
the Company to raise capital to finance the development of its
software products, the effectiveness and the marketability of those
products, the ability of the Company to protect its proprietary
information, and the establishment of an efficient corporate operating
structure as the Company grows. These and other risks and
uncertainties are presented in detail in the Company's Form 10-KSB for
1999,and its Form 10-QSB for the third quarter of 2000, which were
filed with the Securities and Exchange Commission on March 30, 2000,
and November 14, 2000, respectively. This information is available
from the SEC or the Company.
This press release and prior releases are available on the KCSA Public
Relations Worldwide Web site at www.kcsa.com
CONTACT: Medix Resources, Inc.
John R. Prufeta, President and CEO
(212) 697-2509
(212) 681-9817 (fax)
jprufeta@cymedix.com
or
KCSA Investor
Sarah Shepard / Elena Bonaiuto
(212) 896-1236 / (212) 896-1233
(212) 697-0910 (fax)
sshepard@kcsa.com / ebonaiuto@kcsa.com
or
KCSA Media
Jessica Gates / Kevin Rini
(212) 896-1229 / (212) 896-1292
jgates@kcsa.com / krini@kcsa.com |
