Radiologix Names Michael N. Murdock Chief Financial Officer
January 04 2005 - 7:59AM
PR Newswire (US)
Radiologix Names Michael N. Murdock Chief Financial Officer Years
of Finance and Operations Experience Add Depth to Management Team
DALLAS, Jan. 4 /PRNewswire-FirstCall/ -- Radiologix, Inc.
(AMEX:RGX) announced today that Michael N. Murdock has been
appointed senior vice president and chief financial officer. Mr.
Murdock will join Radiologix on February 1, 2005, replacing Richard
J. Sabolik. Mr. Murdock has spent the majority of his career in
senior financial positions with health care companies, ranging in
size from venture-backed startups to multi-billion dollar
corporations, including positions with American Medical
International ("AMI") and its successor American Medical Holdings,
Inc. ("AMH"), a $2.4 billion in revenue publicly traded owner and
operator of acute care facilities that was acquired in March 1995
by National Medical Enterprises, now Tenet Healthcare. In his 13
years with AMI and AMH, Mr. Murdock gained a great deal of finance
experience, including, while serving as vice president and
treasurer, playing a leading role in the $3.4 billion leveraged
buyout of AMI, the $250 million public offering of AMH, the
refinancing of $210 million of subordinated debt, and multiple
other financings. In addition, through tight cash management and
expense controls, Mr. Murdock was instrumental in reducing AMH's
debt by approximately $1.8 billion over five years. "We are very
pleased and fortunate to attract someone with Mike's background,
talent and ability to Radiologix," said Sami S. Abbasi, president
and chief executive officer of Radiologix. "Mike brings to
Radiologix a great deal of directly relevant health care finance
and operations experience -- controlling costs, understanding the
capital markets, and working with physicians -- that will be
helpful as we build on the progress we have made over the last year
in improving our operational and financial performance. Mike will
fill an important role in building our management team, and he will
be a significant part of crafting and executing strategies to grow
Radiologix and increase shareholder value." For the past five
years, Mr. Murdock has served as chief financial officer of Dental
One, a venture capital-backed owner and operator of 48 dental
practices in Texas, Arizona, Colorado and Utah. From 1997 to 1999,
Mr. Murdock served as chief financial officer of Physician Reliance
Network, Inc. ("PRN"), a $398 million in revenue publicly traded
physician practice management company, specializing in oncology,
that affiliated with 361 physicians and operated 29 owned or leased
comprehensive cancer centers. In 1999, PRN merged with American
Oncology, Inc., to become U.S. Oncology, Inc., the nation's largest
health-care network dedicated to cancer treatment and research. Mr.
Murdock began his career in 1978 as an auditor with Arthur Andersen
after receiving a B.S. degree from California State University,
Northridge. President and chief executive officer of Radiologix,
Sami S. Abbasi, the company's former chief financial officer, will
act as interim CFO until January 31, 2005. About Radiologix
Radiologix (http://www.radiologix.com/) is a leading national
provider of diagnostic imaging services, owning and operating
multi-modality diagnostic imaging centers that use advanced imaging
technologies such as positron emission tomography ("PET"), magnetic
resonance imaging ("MRI"), computed tomography ("CT") and nuclear
medicine, as well as x-ray, general radiography, mammography,
ultrasound and fluoroscopy. The diagnostic images created, and the
radiology reports based on these images, enable more accurate
diagnosis and more efficient management of illness for ordering
physicians. Radiologix owned or operated 88 diagnostic imaging
centers located in 13 states as of September 30, 2004.
http://www.newscom.com/cgi-bin/prnh/19991026/RLGXLOGO
http://photoarchive.ap.org/ DATASOURCE: Radiologix, Inc. CONTACT:
Paul R. Streiber, Investor Relations, +1-214-303-2702, Web site:
http://www.radiologix.com/
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