27.10.2005 11:00:00
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Thomas S. Hall joins NovaMed as President and Chief Executive Officer
Mr. Hall previously served as President and Chief OperatingOfficer of Matria Healthcare, Inc. (Nasdaq:MATR) since April 2003,after having joined Matria in October 2002 as Executive Vice Presidentand Chief Operating Officer. Matria provides comprehensive diseasemanagement programs to health plans and employers. Prior to joiningMatria, Mr. Hall was President of ADP TotalSource, a division ofAutomated Data Processing, Inc. Mr. Hall also served in seniormanagement positions with Riscorp, Inc., an insurance holding company,and USAir Express/Chautauqua Airlines. Mr. Hall earned a BA inbusiness from Goshen College and a MBA from Clarkson University.
NovaMed's Board of Directors also appointed Robert J. Kelly toserve as its non-executive Chairman. Mr. Kelly has served as PresidingDirector of NovaMed since March 29, 2005. "We are extremely pleased tohave Tom Hall join NovaMed," said Mr. Kelly. "Tom has an outstandingrecord of accomplishments and the Board as well as our management teamlook forward to working with him to continue to grow our business."
Mr. Hall commented, "Joining NovaMed is an exciting opportunityfor me personally. NovaMed is a solid company in an attractiveindustry with plenty of growth opportunities. I look forward toleading this organization and building on the company's recent trackrecord and growth momentum."
In aligning Mr. Hall's interests with those of NovaMedstockholders, Mr. Hall's compensation package includes 250,000restricted shares of NovaMed common stock and non-qualified options topurchase another 250,000 shares. These awards will vest over fouryears in a manner consistent with the company's traditional vestingschedule for its employees. In recruiting Mr. Hall, NovaMed issued therestricted stock award in reliance on Section 4350(i)(1)(A)(iv) of theNasdaq Marketplace Rules.
NovaMed acquires, develops and operates ambulatory surgery centersin partnership with physicians. NovaMed currently has ownershipinterests in 27 surgery centers located in 14 states. NovaMed'sexecutive offices are located in Chicago, Illinois.
This press release contains forward-looking statements that relateto possible future events. These statements are based on management'scurrent expectations and are subject to risks and uncertainties, whichcould cause our actual results to differ materially from thoseexpressed or implied in this press release. These risks anduncertainties relate to our business, our industry and our commonstock and include: our ability to acquire, develop or manage asufficient number of profitable surgical facilities, includingfacilities that are not exclusively dedicated to eye-relatedprocedures; reduced prices and reimbursement rates for surgicalprocedures; our ability to maintain successful relationships with thephysicians who use our surgical facilities; the application ofexisting or proposed government regulations, or the adoption of newlaws and regulations, that could limit our business operations,require us to incur significant expenditures or limit our ability torelocate our facilities if necessary; the continued acceptance oflaser vision correction and other refractive surgical procedures; anddemand for elective surgical procedures generally. Readers areencouraged to review a more complete discussion of the factorsaffecting NovaMed's business and prospects in its filings with theSecurities and Exchange Commission, including the company's 2004 Form10-K filed on March 31, 2005. Readers should not place undue relianceon any forward-looking statements. Except as required by the federalsecurities laws, NovaMed undertakes no obligation to publicly updateor revise any forward-looking statements, whether as a result of newinformation, future events, changing circumstances or any other reasonafter the date of this press release.
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