DALLAS, Feb. 6 /PRNewswire-FirstCall/ -- Radiologix, Inc. (Amex: RGX), a
leading national provider of diagnostic imaging services, today announced that
Stephen D. Linehan has been named President and Chief Executive Officer (CEO)
effective immediately.
Radiologix also announced the resignation of President and Chief Operating
Officer, Mark S. Martin, to pursue other opportunities.
Mr. Linehan, 52, a successful and experienced chief executive, has worked
for more than two decades providing leadership to and managing the operations
of various healthcare organizations.
Most recently, Mr. Linehan served as President and Chief Executive Officer
of Rotech Healthcare, Inc. (OTC: ROHI). Rotech Healthcare is a leading
provider of home respiratory care and durable medical equipment and services
to patients with breathing disorders. It provides equipment and services in
48 states through over 600 operating centers across the U.S. It had over $600
million in revenue in 2001. While with Rotech Healthcare,
Mr. Linehan successfully achieved the highest organic growth in the industry
both in medications and in new oxygen therapy by focusing management on
operations and field marketing.
"We are extremely pleased to have an executive of Steve's caliber joining
the Radiologix team," said Marvin S. Cadwell, Chairman of the Board of
Directors of Radiologix. "His breadth and depth of healthcare operating
experience, particularly with multi-site providers, and his demonstrated
ability to grow shareholder value, will be very beneficial for Radiologix."
During his 30-year career, Mr. Linehan has held executive and board-level
positions with public and private companies in the healthcare industry,
including serving as President of Value Rx, Inc., a $1 billion pharmacy
benefits management unit of Value Health, Inc. As part of the original
management team, Mr. Linehan was instrumental in growing Value Health from a
$25 million dollar early-stage venture investment into a $1.5 billion-in-
revenue, NYSE-listed company.
"This represents a tremendous opportunity because Radiologix is a solid
company with a good model in a growing sector of healthcare," said
Mr. Linehan. "Diagnostic imaging is medically necessary for determining
course of care and follow-up. It will continue to grow as the populations
ages, as technologies improve, as referring physicians become more comfortable
with new technologies, as healthcare consumers understand options available
and as payors continue to recognize the value of effectively managed
diagnostic imaging."
Mr. Linehan has served on several Boards of Directors, including: FHC
Health Systems, OPTIONS Health Care, Value Rx, American PsychManagement, Hurst
Associates, and Wellington Life Insurance Company.
Mr. Linehan served two terms as Mayor of the City of Lake St. Louis, MO,
from April 1983 to April 1987. In this part-time position, Mr. Linehan
directed all city staff and the multi-million dollar city budget. He
supervised the Police Department, Planning and Zoning Commission and the City
Manager.
Mr. Linehan earned a B.S. degree in Business Administration from the
University of North Dakota and an M.B.A. from Lindenwood University in
St. Charles, MO.
Mr. Martin's Resignation
Radiologix also announced the resignation of Mark S. Martin, President and
Chief Operating Officer. Mr. Martin joined Radiologix in 1996 and has been an
important part of the company's growth over the last six years.
"We want to thank Mark for his many contributions to Radiologix and wish
him much luck in his future endeavors," said Mr. Cadwell.
About Radiologix
Radiologix (http://www.radiologix.com ) is a leading national provider of
diagnostic imaging services through (i) its ownership and operation of
technologically advanced, multi-modality diagnostic imaging centers, and
(ii) its provision of administrative, management and other information
services to certain radiology business partners. Radiologix derives the
majority of its revenues from the production and management of diagnostic
imaging procedures utilizing technologies such as x-ray, magnetic resonance
imaging ("MRI"), computed tomography ("CT"), mammography, ultrasound, nuclear
medicine and positron emission tomography ("PET"), as well as general
radiography and fluoroscopy. These images, and the radiology reports that are
based on these images, permit ordering physicians to diagnose and manage
diseases and injuries more accurately and effectively than would be possible
without this clinical information. Radiologix owns or operates 117 imaging
centers located in 17 states, with concentrated geographic coverage in markets
located in California, Florida, Kansas, Maryland, New York, Texas and
Virginia.
Safe Harbor Statement
This press release contains forward-looking statements that relate to
future financial results or business expectations and are made pursuant to the
safe harbor provisions of the Securities Litigation Reform Act of 1995. Such
statements are subject to risks and uncertainties that exist in the Company's
operations and business environment. Business plans may change as
circumstances warrant and actual results may differ materially from any
forward-looking statements, which reflect the management's opinion only as of
the date hereof. Such risks and uncertainties include, but are not limited
to, those associated with the Company's acquisition and expansion strategy;
integration of the Company's affiliated physician practices and newly-acquired
imaging centers; the Company's ability to achieve operating efficiencies and
engage in successful new development efforts; regulatory changes;
reimbursement trends; governmental policies; and general economic and business
conditions. Such risks and uncertainties, as well as additional risk factors
which could affect the forward-looking statements made in this press release,
are included in the Company's filings with the Securities and Exchange
Commission, including its Form 10-K dated March 28, 2002. Any forward-looking
statement speaks only as of the date on which such statement is made.
Radiologix undertakes no obligation to update any forward-looking statement or
statements to reflect events or circumstances after the date on which such
statement is made.
SOURCE Radiologix, Inc.
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Related links: http://www.radiologix.com
Photo Notes: NewsCom: http://www.newscom.com/cgi-bin/prnh/19991026/RLGXLOGO http://www.newscom.com/cgi-bin/prnh/20030205/RGXLINEHAN PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
CONTACT: Paul R. Streiber, Investor Relations of Radiologix, Inc., +1-214-303-2702, or paul.streiber@radiologix.com
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