MARIETTA, Ga., March 9 /PRNewswire-FirstCall/ -- Matria Healthcare, Inc. today announced the appointment of Jeffrey L. Hinton to the position of Senior Vice President and Chief Financial Officer, effective March 20, 2006. Mr. Hinton will have responsibility for the Company's financial, accounting, treasury and related functions. Mr. Hinton will report to Matria's Chairman and Chief Executive Officer, Parker H. Petit.
From April 2004 until joining Matria, Mr. Hinton served as Vice President Internal Controls for HealthSouth, a $3.7 billion public company operating inpatient rehabilitation hospitals and ambulatory surgery centers, and providing outpatient physical therapy and diagnostic services. Prior to HealthSouth, Mr. Hinton was a financial consultant to a provider of CRM software and marketing services to the pharmaceutical industry, and he also held Chief Financial Officer positions with various public and private companies including an ambulatory surgery center and specialty hospital company, and a $700 million NYSE manufacturer of fitness products.
"Mr. Hinton is an executive with extensive financial experience serving both public and private corporations in high growth industries," said Petit. "Mr. Hinton brings twenty years of in-depth financial expertise and a wealth of knowledge to our Company. He has lead Sarbanes-Oxley compliance programs, and completed acquisitions and divestitures of corporations and business units with aggregate revenues of nearly $1 billion. In addition, through his insight into cost leveraging opportunities, he has led the implementation of numerous operational improvement initiatives in each of the organizations with which he was associated. We are very pleased to bring Jeff to Matria, and we look forward to his financial leadership during this exciting and high growth time for our Company."
Mr. Hinton is replacing Stephen M. Mengert who has accepted the Chief Financial Officer position at MedSolutions, Inc., a leading privately held radiology management solutions company. Mr. Mengert will be remaining with Matria through March 16, 2006 to facilitate the transition of duties. "We are excited for Steve relative to his new opportunity. Steve has made numerous contributions to Matria, and we will miss his involvement in our Company," Petit added.
ABOUT MATRIA HEALTHCARE
Matria Healthcare is a leading provider of comprehensive health enhancement programs to health plans and employers. Matria manages major chronic diseases and episodic conditions including diabetes, congestive heart failure, coronary artery disease, asthma, chronic obstructive pulmonary disease, high-risk obstetrics, cancer, chronic pain, depression, end-stage renal disease, and obesity; delivers programs that address wellness, healthy living, productivity improvement, and patient advocacy; and provides case management of acute and catastrophic conditions. Headquartered in Marietta, Georgia, Matria has more than 40 offices in the United States and internationally. More information about Matria can be found on line at http://www.matria.com.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. Such statements include but are not limited to the continued growth of the Company. These statements are based on current information and belief, and are not guarantees of future performance. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include the Company's failure to achieve continued high growth, decreased interest in or demand for the Company's wellness, disease management and case management programs, failure of existing accounts to expand their use of the Company's programs and services, developments in the healthcare industry, third-party actions over which Matria does not have control, regulatory requirements applicable to Matria's business and the risk factors detailed from time to time in Matria's periodic reports and registration statements filed with the Securities and Exchange Commission, including Matria's Annual Report on Form 10-K for the year ended December 31, 2004. By making these forward-looking statements, Matria does not undertake to update them in any manner except as may be required by Matria's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.
Contact: Parker H. Petit Chairman and CEO 770/767-4500
Matria Healthcare, Inc.CONTACT: Parker H. Petit, Chairman and CEO of Matria Healthcare, Inc.,+1-770-767-4500
Web site: http://www.matria.com/
