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To: Mr. Big who wrote (80629)	6/25/1999 9:32:00 AM
From: flyboy	Respond to of 119973

PHMX...More news...Friday June 25, 8:00 am Eastern Time Company Press Release SOURCE: PhyMatrix Corp. PhyMatrix Announces Management Additions PROVIDENCE, R.I., June 25 /PRNewswire/ -- PhyMatrix, Corp. (Nasdaq: PHMX - news) today announced the hiring of Adrian Otte, MD as its Chief Operating Officer of its Pharmaceutical Services business, which currently includes its wholly owned subsidiary Clinical Studies, Ltd. (CSL) and Medical Research International (MRI). The pharmaceutical services business includes investigator site management for Phase I-IV, outcomes research, disease management, and healthcare research. Dr. Otte, a physician, previously served as Vice President of Medical Research for Zeneca Pharmaceuticals, and prior to that spent seven years at PAREXEL International, most recently as its Senior Vice President of Medical and Site Management Services. Michael Heffernan, President & Co-CEO of PhyMatrix, stated, ''We are very pleased to have an individual of Adrian's expertise join our organization. Together, with other recently announced management additions, Adrian will play a major role in developing our repositioned company and capitalizing on the opportunities within our industry.'' Dr. Adrian Otte commented, ''I am pleased to join PhyMatrix at this time in its repositioning. With its uniquely integrated businesses, the Company has the opportunity to provide significant value to our pharmaceutical customers.'' The Company also announced the hiring of Linda Strause, PhD as Vice President of Corporate Accounts. Dr. Strause joins the Company from Quintiles where she most recently served as Senior Director of Investigative Site Resources, Quintiles CNS Therapeutics. Dr. Strause will be responsible for managing the company's strategic partnerships with its bio-pharmaceutical customers. In addition, the Company announced the hiring of Veronica Barrett, Esq. as General Counsel. Ms. Barrett most recently worked as an attorney at McDermott, Will & Emery in their healthcare practice in Boston, MA. Prior to that, she worked at the Scheur Management Group, Inc. as Assistant General Counsel & Senior Consultant. Effective Monday, June 28, 1999, PhyMatrix will change its name to Innovative Clinical Solutions, Ltd., and trade under ticker symbol ICSL. PhyMatrix Corp., headquartered in Providence, Rhode Island, provides services that support the needs of the pharmaceutical and managed care industries. The Company integrates its pharmaceutical services division with its provider network management division to create innovative solutions for its customers. The Company's services include clinical and economic research and disease management, as well as managed care functions for specialty and multi- specialty provider networks. The Company's components include Clinical Studies, Ltd., a wholly owned subsidiary which operates dedicated, multi-therapeutic phase I-IV research facilities, and its provider network management division which manages over 9,000 physicians in networks located across the country. By integrating these divisions, the company is able to provide a broad range of pre- and post-FDA approval services designed to expedite new pharmaceutical product approval and market acceptance. This press release contains forward-looking statements regarding future events and the future performance of PhyMatrix Corp. that involve risks and uncertainties that could cause actual results to differ materially. These risks are described in further detail in the Company's reports filed with the Securities and Exchange Commission.