HC Innovations, Inc. (OTCBB: HCNV), a specialty care disease management company, today announced that Salvatore V. Bastardi has been named Division President for Enhanced Care Initiatives' (ECI) New York operations. ECI, the wholly owned subsidiary and Management Company for all HC Innovations operating divisions, also announced the opening of its Astoria, New York, office at 34-12 36th Street, Astoria, NY.
Prior to joining ECI, Mr. Bastardi served for eight years as Division President for A&J Care, a division of Air Products Health Care, where he was responsible for directing the activity for 235 employees managing sales, operations and reimbursement in seven locations and serving over 40,000 patients in New York City, Long Island, Hudson Valley and Connecticut. Under his leadership, EBITDA increased from negative to positive and revenues increased over 20%. He also was responsible for integrating two acquisitions in a six-month time frame and negotiating numerous managed care contracts. Mr. Bastardi's prior management experience included two years as Vice President of Operations for Infutech and five years as Regional Operations Manager for Apria Healthcare. Mr. Bastardi received an MBA from Adelphi University in Organizational Behavior and a BBA from Baruch College in Marketing/Management.
In commenting on the announcement, Dr. David Chess, Chief Executive Officer of HC Innovations, said, "We are very pleased to have identified an accomplished, results-oriented business professional with extensive experience in managing a rapidly growing healthcare organization, including team building, business development, sales and implementation of policies and procedures. Mr. Bastardi's experience will be invaluable as we scale our New York operations, which is a direct result of our recently signed three-year contract with HIP Health Plan of New York to provide care management for HIP's cancer patients and medically unstable members. We view both the opening of this new office and the hiring of Mr. Bastardi and his staff as a demonstration of our commitment to this new contract with HIP Health Plan of New York and to further growing our metro New York market. We are very excited about our prospects for continued growth in this new area."
About HC Innovations, Inc.
HC Innovations creates value and cost savings for HMOs, nursing homes, and insurance companies (government and private) by identifying niche markets with high medical costs and implementing proprietary solutions. HC Innovations combines proprietary information systems with highly trained nurses and nurse practitioners to improve health conditions with hands-on care. The results are improved patient outcomes. HC Innovations currently provides services for Medicare, Medicaid, sub-acute care and specialty-needs programs in Connecticut, New Jersey, New York, Tennessee, Texas, Florida, Ohio, Illinois and Massachusetts. For more information, visit www.hcinnovationsinc.com.
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"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
