Abbasi Assumes Responsibility for Field Operations and Corporate Services
DALLAS, Oct. 1 /PRNewswire-FirstCall/ -- Radiologix, Inc. (Amex: RGX), a
leading national provider of diagnostic imaging services, today announced that
Sami S. Abbasi has been appointed chief operating officer. In his new role,
Mr. Abbasi will have primary responsibility for field operations and corporate
services of Radiologix.
(Logo: NewsCom: http://www.newscom.com/cgi-bin/prnh/19991026/RLGXLOGO )
Mr. Abbasi, 38, joined Radiologix in August 1996 as senior vice president
and chief financial officer. He successfully helped found and build the
company from a creative idea to a highly regarded and leading provider of
diagnostic imaging services, including taking Radiologix through its initial
public offering in November 1997.
Until December 1999, Mr. Abbasi directed all of Radiologix's capital
markets and acquisition initiatives. He was responsible for and managed every
aspect of finance, accounting and investor relationships.
After a year away from Radiologix, Mr. Abbasi rejoined Radiologix in
December 2000 as executive vice president and chief financial officer, and
since has continued to make important contributions while assuming increased
administrative and operational responsibility.
"Sami's management capabilities and experience, along with his
understanding of our business, combine to make him the ideal candidate for
this position," said Stephen D. Linehan, president and chief executive officer
of Radiologix. "We are fortunate to have someone of his caliber to step up
and help us tackle the operating challenges we face while pursuing new
opportunities."
"I'm excited about the opportunity to expand my responsibilities and more
directly help put Radiologix on a course to better operational performance and
sustained growth and profitability," said Mr. Abbasi. "I believe in our hard-
working employees and affiliated radiologists, and in our combined ability to
capitalize on the favorable trends in our industry and to deliver value to our
shareholders."
In 2000, Mr. Abbasi served as chief operating officer and chief financial
officer of Adminiquest, Inc., a start-up that provided web-enabled and
full-service outsourcing solutions to the insurance and benefits industry.
From January 1995 through July 1996, Mr. Abbasi served as Vice President
in the Health Care Group of Robertson Stephens, Inc., at which he was
responsible for investment banking business development and the execution of a
broad range of corporate finance transactions and mergers and acquisitions.
From 1989 through 1995, Mr. Abbasi held various positions at Citicorp North
America and Citicorp Securities, including Vice President and Senior Industry
Analyst in the Health Care Group.
Mr. Abbasi earned an M.B.A. from the University of Rochester and a B.A. in
Economics from the University of Pennsylvania.
Mr. Abbasi will continue to serve as Radiologix's chief financial officer
until a successor is named, and the company will begin a search for a chief
financial officer immediately.
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
owns or operates 115 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 give our current expectations or forecasts of future
events; they do not relate strictly to historical or current facts. 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 new events or circumstances or future
developments.
We have tried, whenever possible, to identify such statements by using
words such as "anticipated," "estimates," "expect," "project," "intend,"
"plan," "believe," "will" and similar expressions in connection with any
discussion of future operations or financial performances. These 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 Annual Report on Form 10-K for the year ended December 31, 2002,
and its periodic reports on Forms 10-Q and 8-K (if any).
We cannot guarantee that any forward-looking statements will be realized,
although we believe we have been prudent in our plans and assumptions.
Achievement of future results is subject to risks, uncertainties and
potentially inaccurate assumptions. Should known or unknown risks or
uncertainties materialize, or should underlying assumptions prove inaccurate,
actual results could vary materially from past results and those anticipated,
estimated or projected. Investors should bear this in mind as they consider
forward-looking statements.
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 AP Archive: http://photoarchive.ap.org PRN Photo Desk, photodesk@prnewswire.com
CONTACT: Investors, Paul R. Streiber of Radiologix, +1-214-303-2702, or paul.streiber@radiologix.com
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