Cimtek Commerce Expands Management Team with Seasoned Industry Executives.JOHNSON CITY Johnson City. 1 Village (1990 pop. 16,890), Broome co., S N.Y., in a tricity area including Endicott and Binghamton; inc. 1892. It has been noted for its Endicott-Johnson shoes. , Tenn.--(BUSINESS WIRE)--Nov. 4, 1999-- Cimtek Commerce, the leading provider of vertically integrated e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. solutions for the medical supply industry, today announced that Randall Reiners has been named its chief financial officer and Christopher M. Pancratz has been named executive vice president of sales. Combining high technology and healthcare industry experience, these appointments help position Cimtek for accelerated growth in "e-healthcare." Reiners will oversee Cimtek's financial strategy and be instrumental in meeting aggressive growth plans through additional financing, raising equity values and preparing for an 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. . Before joining Cimtek, Reiners was senior vice president and chief financial officer, treasurer and director at Tempur-Pedic, Inc., a consumer product firm with 60 percent growth. In this role, he structured an international merger to increase earnings per share from less than $1 to $8 post-merger. Previously at Interactive Pictures Corporation (IPIX IPIX Interface Processor for Imagery Exchange ), an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the and digital imaging software corporation, Reiners raised and closed a complex $12 million equity placement at a valuation of 17 times sales. Pancratz will be responsible for all of Cimtek's sales efforts, primarily focusing on building manufacturer and distributor relationships for both of the company's online medical supply services: Medicalbuyer.com(tm), an Internet trading exchange for medical supply distributors and buyers, and HIDAHELP.com(tm), a comprehensive, electronic database of medical products to serve both distributors and manufacturers. HIDAHELP.com is managed in partnership with the Health Industry Distributors Association (HIDA HIDA Health Industry Distributors Association HIDA Hepatobiliary Iminodiacetic Acid (scan to evaluate galbladder) HIDA High Intensity Directional Acoustics (American Technology Corporation and Carver Corporation) ). Previously Pancratz served as HIDA's vice president for membership services, managing all association programs for member distributors serving the hospital, imaging and physician markets. He directed the activities of the HIDA Supply Chain Committee, helping distributors and manufacturers work together to achieve industry operations and information technology goals. He also developed and managed HIDA partnership programs, including the Healthcare Distributor Information Service(tm) (HDIS HDIS Home Delivery Incontinent Supplies HDIS High Dose Inhaled Steroids HDIS HST Digital Imaging System HDIS High-Density Information System HDIS High Dynamic Instrumentation Sets HDIS High Dose Ion Implantation Strip ) and HIDAHELP.com. "Randall brings a wealth of Internet financial experience and knows how to make a business profitable," said Ed Rollins Ed Rollins (born March 19, 1943) is a Republican campaign consultant and advisor who has worked on a number of high profile political campaigns in the United States. Edward Rollins was born in Boston, Massachusetts. There, he was raised in a Democratic household. , M.D., 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. , Cimtek Commerce. "Chris' extensive knowledge of the medical supply industry will enhance Cimtek's aggressive sales strategy and ensure we are meeting the needs of our customers," Founded in 1997, Cimtek Commerce is dedicated to developing vertically-integrated e-commerce solutions to the medical products industry. With its flagship offerings, medicalbuyer.com(tm) and HIDAHELP.com(tm), Cimtek Commerce's initial focus is on the $35 billion medical supply industry. Identifying the market need for a new web-based supply chain model, Cimtek Commerce developed these Internet trading exchange to provide manufacturers, distributors and end-customers with a virtual, open marketplace for the buying and selling of medical supplies. Cimtek Commerce is based in Johnson City, Tenn. For more information, call (800) 246-8353 or visit www.cimtekcommerce.com, www.hidahelp.com or www.medicalbuyer.com. |
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