MEDNET APPOINTS NEW BOARD CHAIRMAN.
"With much regret and considerable gratitude, our Board has acceded to Leo's wish that he step down after three years as Mednet chairman to fulfill his new responsibilities as a U.S. Senate appointee to the National Gambling Impact and Policy Committee," said Georgiou. "Leo was a primary force behind the change in Mednet management several months ago. We will continue to look to him for counsel and guidance."
On January 23, 1997, the Company announced the appointment of Robert A. Bagdasarian and Glenn P. Merritts as Mednet's chief executive officer and president, respectively. Mr. Bagdasarian was formerly president and chief executive officer of Rx Net, Inc., a pharmacy benefit management company located in Fresno, California, and a subsidiary of Value Health, Inc. Mr. Merritts was formerly Vice President, Finance and Chief Financial Officer of Rx Net.
Mr. Leo McCarthy, former Board chairman, said, "With Mr. Bagdasarian and Mr. Merritts at the helm of Mednet, we are actively restructuring the Company and implementing cost saving measures. We expect that these changes will allow the Company to compete effectively in the managed care arena."
This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 1995.
Mednet, MPC Corporation, through its wholly owned subsidiaries, Medi-Claim and Medi-Mail, provides drug prescription benefit management services including the establishment of mail service and retail pharmacy networks through contracts with licensed pharmacies.
CONTACT: Mednet MPC Corp., Las Vegas
Robert Bagdasarian, 702/361-3119
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|Date:||May 7, 1997|
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