GAITHERSBURG,
Md., Jan. 26 /PRNewswire/ -- Health
Pathways, Inc. reported its
results for fiscal year 2004 at its
annual shareholders meeting held on Friday,
January 21, 2005 at its corporate offices
in Gaithersburg, Maryland. President
and CEO, Mr. J. Randall Hoggle, characterized
2004 as a pivotal year for
the company with an eight-fold increase
in revenue, and a healthy net income
margin. During 2004, the company more
than doubled its senior management
team as it implemented its growth strategies
to "Accelerate Healthcare
Innovation." The company
announced a cash dividend payment for 2004 being paid to shareholders of record
as of December 31, 2004.
The company announced several management
team additions and promotions during 2004:
- Mr. Michael Emelio joined as
General Manager of its MedSolution
Technologies(TM) division
- Mr. Guerdon R. Green joined
as Vice President of Marketing & Sales
- Mr. Edward R. Gubish, Ph.D.,
was promoted to Chief Scientific
Officer, previously
serving as President of the biosciences
Corporation(R) division.
- Mr. Thomas Menighan, R.Ph.,
joined as General Manager of the
Integrity Solutions(TM) division
- Mr. Mathias Neumann was promoted
to Director of Corporate Affairs
from Director of Business Development
for biosciences Corporation division
- J. Greg Perkins, Ph.D. joined
as President of BioDerm Sciences,
Inc.,
a
Health Pathways, Inc. affiliate
that was relocated to Oxford, Mississippi in November 2004
- Mr. Daniel S. Romney joined
as Chief Financial Officer
The company also announced that board
member Ronald J. Streck, R.Ph., J.D.,
has departed from the Board of Directors
for Health Pathways, Inc.
in order
to be President and CEO of Rx Distribution
Network, LLC, a recently established
company that provides pharmaceutical
distribution services. Mr. Hoggle
explained, "Ron Streck
has been a significant guiding force
to Health Pathways,
Inc. during its formative years. Health
Pathways extends its appreciation to Ron for his service,
and wishes him continued success."
John Holaday, Chairman of HarVest
Bank and experienced healthcare
company executive,
was elected to the Health Pathways
board of directors. Mr.
Hoggle commented, "John
Holaday brings a wealth of experience
in the biotechnology and
scientific arena to our company.
We look forward to working with him
and receiving
his guidance as we continue to grow."
Health
Pathways, Inc. now serves as the
trusted 3rd Party conduit
for public/private
healthcare related initiatives involving
pharmaceutical
and other
healthcare products distribution
information services. In 2004 the company
significantly grew its client base
in the government sector and commercial
markets. The special combination
of expertise in information technology
and medical science allows the company
to provide valuable solutions
that improve decision making capabilities,
reduce risks, and help bring
healthcare products to market. Through
the expertise of its Chief Scientific
Officer, Edward R. Gubish, Jr., Ph.D.,
formerly with the FDA,
the company
has provided valuable leadership
in the marketing of patented healthcare
innovations covering a range of customer
groups from military
to pharmaceutical
and biotechnology companies. About Health Pathways, Inc.
Health Pathways, Inc.(TM) is a U.S. based privately held healthcare
information services and technology company headquartered in Gaithersburg, Maryland.
Health Pathways focuses on "Accelerating Healthcare Innovation" through
a series of four divisions. The NetHealth Trust(TM) division provides healthcare
workflow process improvement and business automation for government and commercial
customers. The Integrity Solutions(TM) division assists the distribution channel
in assuring medical product distribution system integrity and product safety.
The MedSolution Technologies, Inc. division provides medical care information management services with special emphasis on medical
imaging management services for clinical trials. The biosciences Corporation(R) division provides business advisory and medical product
development expertise.
To contact Health Pathways for
more information or services, please
contact Mr. Mathias Neumann, Director
of Corporate Affairs,
via telephone at (301) 216-3912, extension 222 or e-mail via address: mneumann@healthpathways.com
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