ATLANTA, Aug. 21, 2018 /PRNewswire/
-- Streamline Health Solutions, Inc. (the "Company")
(NASDAQ: STRM), provider of integrated solutions,
technology-enabled services and analytics supporting revenue cycle
optimization for healthcare enterprises, today announced the hiring
of Thomas (Tom) J. Gibson as Senior
Vice President and Chief Financial Officer for the Company,
effective September 10,
2018.
Mr. Gibson, 55, is the former Chief Financial Officer of Citra
Health Solutions and Vivex Biomedical, Inc. Prior to his service
with Citra, Mr. Gibson served as the Principal Accounting Officer,
Senior Vice President of Finance and Corporate Controller at R1 RCM
(previously Accretive Health, Inc.). Mr. Gibson previously
served with Greenway Medical Technologies as Chief Accounting
Officer and with MedAssets as Senior Vice President, Finance and
before that as Vice President of Revenue Cycle Management. Mr.
Gibson spent the first 15 years of his professional career with Big
4 CPA firms working with both public and private companies.
"We are pleased to have Tom
Gibson join our management team as Senior Vice President and
Chief Financial Officer," stated David
Sides, President and Chief Executive Officer, Streamline
Health. "Given Tom's background in accounting with Big 4 firms such
as PwC and EY, he is quite accomplished in complicated revenue
recognition such as performance-based contracts in healthcare and
software. We look forward to his contributions, specifically
inside the Company focusing on funding revenue growth, and outside
the Company working more directly with the investor community."
"I am very excited about the growth opportunities at Streamline
Health and believe that I am joining the company at a very good
time in its lifecycle," Mr. Gibson stated. "Having spent most
of my career in the healthcare industry, specifically in software,
and being intimately familiar with Revenue Cycle Management, I
think Streamline's solutions and services are very well positioned
in the middle of a healthcare providers' revenue cycle. I
want to help orchestrate strategies focused on revenue growth while
continuing to successfully manage costs to help increase cash
flow."
In connection with his employment, the Company intends to grant
equity awards to Mr. Gibson on the effective date of his
employment, including 100,000 restricted stock units, which are
expected to be granted outside of the Company's Amended and
Restated 2013 Stock Incentive Plan. Additionally, the Company will
grant to Mr. Gibson, effective as of February 1, 2019, an additional 50,000 restricted
stock units. The restricted stock units will vest in three
substantially equal annual installments over the first three years
of employment. The grants were approved by the Compensation
Committee of the Board of Directors and were granted as an
inducement material to Mr. Gibson's entering into employment with
the Company in reliance on Nasdaq Listing Rule 5635(c)(4), which
requires this public announcement.
About Streamline Health
Streamline Health Solutions, Inc. (NASDAQ: STRM) is a
healthcare industry leader in capturing, aggregating, and
translating enterprise data into knowledge – producing actionable
insights that support revenue cycle optimization for healthcare
enterprises. We deliver integrated solutions,
technology-enabled services and analytics that empower providers to
drive revenue integrity in a value-based world. We share a common
calling and commitment to advance the quality of life and the
quality of healthcare – for society, our clients, the communities
they serve, and the individual patient. For more information,
please visit our website at www.streamlinehealth.net.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995
Statements made by Streamline Health Solutions, Inc. that are
not historical facts are forward-looking statements that are
subject to certain risks, uncertainties and important factors that
could cause actual results to differ materially from those
reflected in the forward-looking statements included herein.
Forward-looking statements contained in this press release include,
without limitation, statements regarding the Company's growth
opportunities and revenue growth strategy. These risks and
uncertainties include, but are not limited to, the timing of
contract negotiations and execution of contracts and the related
timing of the revenue recognition related thereto, the potential
cancellation of existing contracts or clients not completing
projects included in the backlog, the impact of competitive
solutions and pricing, solution demand and market acceptance, new
solution development and enhancement of current solutions, key
strategic alliances with vendors and channel partners that resell
the Company's solutions, the ability of the Company to control
costs, availability of solutions from third party vendors, the
healthcare regulatory environment, potential changes in
legislation, regulation and government funding affecting the
healthcare industry, healthcare information systems budgets,
availability of healthcare information systems trained personnel
for implementation of new systems, as well as maintenance of legacy
systems, fluctuations in operating results, effects of critical
accounting policies and judgments, changes in accounting policies
or procedures as may be required by the Financial Accounting
Standards Board or other similar entities, changes in economic,
business and market conditions impacting the healthcare industry
generally and the markets in which the Company operates and
nationally, and the Company's ability to maintain compliance with
the terms of its credit facilities, and other risks detailed from
time to time in the Streamline Health Solutions, Inc. filings with
the U. S. Securities and Exchange Commission. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which reflect management's analysis only as of the date hereof. The
Company undertakes no obligation to publicly release the results of
any revision to these forward-looking statements, which may be made
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events, except as required
by law.
Company Contact:
Randy
Salisbury
SVP, Chief Marketing Officer
(404) 229-4242
randy.salisbury@streamlinehealth.net
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SOURCE Streamline Health Solutions, Inc.