OREM, Utah, May 6, 2014 (GLOBE NEWSWIRE) -- ActiveCare, Inc. (OTCQB:ACAR), a leader in diabetes management and wellness services for self-insured employers nationwide, today announced a reorganization of its management team and its strategic plan for becoming operating income positive this year.
"Our reorganization comes at a critical inflection point for our company. We have started gaining traction in the diabetic market with our solution and we are more focused than ever on increasing our sales while better managing our expenses to further increase our profit margins. Our newly aligned management team will accelerate the national sales of our chronic disease management and wellness solutions," stated David Derrick, CEO of ActiveCare. "As part of the plan we will continue to cut our costs and expenses as we grow until we achieve positive operating income. Based on our newly devised strategic plan, this milestone will be achieved during our fiscal fourth quarter of 2014. The entire management team is incentivized to attain financial success for all of our loyal shareholders."
As part of the restructuring, Mr. Michael Z. Jones will become President of the Company. Mr. Jones previously founded and held executive positions in several of the technology industry's fastest growing companies. He was Executive Vice President at RemedyMD, where he led the advancement of medical collaboration and the utilization of informatics technologies for the treatment of obesity and diabetes. Mr. Jones has led sales and marketing teams at various companies expanding their sales, distribution, customer support, production and logistics capacities. Michael has also held domestic and international senior sales leadership roles at Siebel Systems, Silicon Graphics and Oracle.
Mr. Jonathan Olson will assume the role of the Chief Operating Officer. Jonathan Olson has nearly 20 years of experience in managing the development and implementation of clinical informatics applications. As the first employee of TheraDoc, he led the architecture, design, and implementation of the TheraDoc Clinical Intelligence Platform. He has been a contributing author in numerous peer-reviewed publications and holds two patents in the field. Olson played a key role during the acquisition of TheraDoc by Hospira, Inc. in 2009. During his tenure at Hospira/TheraDoc, he also held positions of responsibility over the services organization, including project management, training, data integration and support. He was instrumental in helping the organization achieve Best in KLAS in 2012 for the Infection Control Assistant.
Additionally, Mr. Earl Hurst has been named the Senior Vice President of Business Development, and will report directly to Mr. Jones. Mr. Hurst has 30 years of top-level industry experience. He served as President of Humana Healthcare and Executive Vice President of Fred A. Morton & Company, the largest health insurance broker in the intermountain states.
These changes will fundamentally reorganize the company's business to accelerate growth, improve profitability and strengthen the company's competitive advantages in the diabetes services space. Under the reorganization the Company's Chief Executive Officer, David Derrick, will forfeit his entire salary and the remaining members of the upper management team will take a 25% reduction in compensation until the Company reaches profitability.
ActiveCare, Inc. provides patented diabetes and chronic disease management and wellness solutions that increase visibility, lower costs and provide real-time care for members resulting in improved outcomes. Utilizing state-of-the-art meters with embedded cellular technology, trained CareSpecialists can intervene in real-time and provide members with the support needed to control their disease 24 hours a day, every day. ActiveCare's solution is revolutionizing the way employers, individuals and their health plans monitor chronic disease. To learn more about ActiveCare please visit www.activecare.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Our actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including global economic conditions generally, regulatory uncertainty and economic pressure on the healthcare industry in particular, the governmental regulation of our products, manufacturing and marketing risks, adverse publicity risks, and risks associated with assimilating our recent acquisitions. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in our most recent filings with the Securities and Exchange Commission.
CONTACT: Company Contact: Chris Riley, Manager of Investor Relations ActiveCare, Inc. (877) 862-5545 Investor Relations: Alliance Advisors, LLC (212) 398-3486