Alere Medical Inc. Announces New Chief Executive Officer; Ronald D. Geraty Provides Leadership to Drive Business and Accelerate Growth.Medical & Health Writers RENO, Nev.--(BW HealthWire)--Feb. 20, 2002 Alere(R) Medical Incorporated, the leader in care management and remote monitoring (protocol) remote monitoring - (RMON) A network management protocol that allows network information to be gathered at a single computer. Whereas SNMP gathers network data from a single type of Management Information Base (MIB), RMON 1 defines nine additional MIBs that provide a of patients with advanced heart failure, today announced that Ronald D. Geraty, M.D. has been appointed chief executive officer of the company. Geraty, with more than 30 years of experience in healthcare as an innovator in business and health policy, has a proven track record of steering cutting-edge health services health services Managed care The benefits covered under a health contract companies into market leadership. Geraty brings to Alere a broad understanding of the healthcare industry's various constituencies. As executive vice president and member of the board of directors at Merit Behavioral Care Corporation, Geraty transitioned the company through developmental phases including growth after IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. , merger, leveraged buyout leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. (with KKR KKR Korringa-Kohn-Rostoker (method) KKR Kohlberg, Kravis & Roberts & Co. KKR Kalkara (postal locality, Malta) KKR Kramers-Kronig Relations KKR Komarappa Gounder Ramalingam (hospital in India) ), and sale to Magellan Health. His strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. efforts resulted in Merit leading the industry into new markets including the employer, pharmaceutical and public sector and a compound annual growth rate of 30% over seven years. Prior to his involvement at Merit, Geraty founded Assured Health Systems Inc., navigating this national managed behavioral care company into the direct employer and managed care markets. Later as chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Imaging Management, he developed the strategy and led the effort to transform the company from a radiology benefits manager into a marketable Internet radiology business. "Ron's leadership and unique understanding of how to apply Alere's assets to the issues and opportunities in care management positions us superbly to be the long-term winner in this market," said Jack Lloyd, chairman of the board at Alere. "Ron's proven ability to innovate will enable him to build on the successes of Alere's offerings and increase the value to patients, physicians, payers, pharmaceutical companies and importantly, new payers including Medicare and Medicaid Medicare and Medicaid U.S. government programs in effect since 1966. Medicare covers most people 65 or older and those with long-term disabilities. Part A, a hospital insurance plan, also pays for home health visits and hospice care. ." Geraty was engaged in the Fall of 2001 to assist the company in strategic development including solidifying the company's relationships with clients, cardiologists and vendors and preparing Alere for success in the Medicare market. Randall Burt will continue as president of Alere with a focus on strategic business development and will work with Dale Kubasak, senior vice president of sales and marketing in selling into the Medicare+Choice HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, arena. "Randall Burt has been a driving force behind creating the vision necessary to participate in the fundamentally changing care management system," continued Mr. Lloyd. "He remains a vital part of the assets necessary to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the huge opportunity in cardiovascular disease Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease management." Throughout 2001, Alere grew from 1000 to 3700 enrolled congestive heart failure congestive heart failure, inability of the heart to expel sufficient blood to keep pace with the metabolic demands of the body. In the healthy individual the heart can tolerate large increases of workload for a considerable length of time. patients and currently functions with 37 Reno-based cardiac nurses who daily review and manage patients remotely. A recent study conducted by Tillinghast-Towers Perrin demonstrated the AlereNet(TM) system's clinical and economic value and additional studies are underway with results to be released this year. "I joined Alere because the company already has a proven product that is not only saving our clients money but improving the lives of patients with advanced CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ," said Ron Geraty. "Through our excellence in care management services, we will execute our vision to become the standard of care in congestive heart failure," he concluded. In addition to his business experience, Geraty was a founder of the industry trade organization, the American Managed Behavioral Healthcare Association. He authored an industry-wide report on cost, quality and access among managed behavioral healthcare organizations that resulted in Congressional approval of parity for mental health benefits. As a research fellow at Harvard Medical School's Division of Healthcare Policy and Research, Geraty developed methodologies to be used in measuring healthcare performance, conducted research on physician practice management and assisted the school in the development of risk models in managed behavioral healthcare. The AlereNet(TM) System Alere is a medical monitoring company focused on improving the lives of patients with congestive heart failure. The AlereNet system provides an at-home technology that enables the collection and exchange of biometric and symptomatic information between patients and caregivers. Patients initiate the monitoring process each morning by simply standing on the DayLink(R) monitor, located in their home. A phone line to the Alere Network easily and automatically transmits the information to a central call station monitored by cardiac-trained nurses who analyze trends that may reveal a change in the patient's health status. If indicated, the patient's doctor is notified, and the need for clinical intervention is assessed before an expensive hospital admission or emergency room visit is required. Such close monitoring and communication with AlereNet has proven successful in dramatically reducing patient crisis events, unnecessary hospitalizations and therefore payer costs. AlereNet helps patients adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. their physician-prescribed health-regimen including medications, weight and diet and currently has an unprecedented patient compliance rate of 95%. Alere's customers include HMOs, at-risk providers, and disease management companies. About Alere Alere(R) Medical Incorporated is a privately held care management company and leader in the development of technology and services that remotely monitor patients with heart failure. Alere's products establish remote connectivity and communication between patients, their physicians, and care managers. Currently in use in 29 states, AlereNet(TM) enables patients with congestive heart failure to have their condition assessed daily to avoid a crisis such as emergency care or hospitalization. The AlereNet system improves patient outcomes, reduces provider costs and enriches overall care. Founded in 1996, Alere is headquartered in Reno, Nevada with technology development based in Concord, California Concord is the largest city in Contra Costa County, California, USA. As of the 2000 census, the city had a total population of 121,780. In 1869 it was founded as Todos Santos by Don Salvio Pacheco on his land. . For more information, visit www.alere.com. |
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