Exhibit 99.1
FOR: MEDIX RESOURCES, INC.
CONTACT: John R. Prufeta, President and CEO
(212) 697-2509
(212) 681-9817 (fax)
[email protected]
KCSA INVESTOR Sarah Shepard / Elena Bonaiuto
CONTACTS: (212) 896-1236 / (212) 896-1233
(212) 697-0910 (fax)
[email protected] / [email protected]
KCSA MEDIA Jessica Gates / Kevin Rini
CONTACTS: (212) 896-1229 / (212) 896-1292
[email protected] / [email protected]
Medix Resources Announces Key Organizational Changes
Gary L. Smith to Join Medix as Chief Financial Officer
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NEW YORK, December xx, 2000 - Medix Resources, Inc. (AMEX: MXR) today
announced several organization changes that will further strengthen and position
the Company for rapid expansion of its customer base.
Structurally, the Company has committed to a strong, regional focus for
disciplined market development. As part of implementing that strategy, account
management and physician deployment has been transferred from the Cymedix Lynx
subsidiary to the Medix parent, reporting to Corporate Operations and
Development. Cymedix Lynx will continue to manage software and technology
development and maintenance, product distribution support, and the Automated
Design Concepts Web Development product line. John Prufeta, President and CEO of
Medix Resources, stated "As the iHealth industry continues to evolve, we believe
that intense, high-level focus on the technology development, sales, account
management, and physician deployment disciplines are essential components to
achieving our market objectives."
Mr. David Pfeil will continue in his roles as Executive Vice President and
Chief Technology Officer of Medix Resources as well as President and Chief
Operating Officer of technology development subsidiary Cymedix Lynx. As a result
of the corporate organizational changes and related concerns expressed by Mr.
Pfeil, the Company and Mr. Pfeil have agreed to amend the terms of his
employment agreement. The amendment provides both Mr. Pfeil and the Company with
flexibility regarding his future relationship with the Company. Medix will file
the employment contract amendment with a Form 8K with the SEC.
Key Addition to Management. The Company has established a new CFO position
and is pleased to announce that Mr. Gary L. Smith will join the Company as
Executive Vice President and Chief Financial Officer. Mr. Smith, who is 46 years
old, joins Medix from Provident Group, a financial advisory firm serving
companies operating in emerging market countries, where he was a principal.
Previously, Mr. Smith was an executive of American Express Bank, the
international banking arm of the financial services conglomerate American
Express Corporation (NYSE: AXP), where he held various senior financial
positions. He holds a BS degree in Economics from the Wharton School and an MS
in Accounting and Finance from the London School of Economics.
"I am delighted to welcome Gary to the Medix management team," commented
Mr. Prufeta. "His background, proven skills and management attributes will be a
decided and important asset to our Company, both immediately and over the long
term. His addition, in tandem with our new regional strategy and focused
assignments, provides Medix with the strong, disciplined platform to win in the
high-energy arena of Internet healthcare services."
Mr. Smith stated, " I am extremely excited to have the opportunity to help
Medix achieve its mission of building collaborative, connectivity services for
physicians and payors. In today's economy, there is no more dynamic market
sector than combining healthcare delivery and finance with advanced technologies
to achieve demonstrable cost savings and provide a higher standard of quality
care."
About Medix Resources, Inc.
Medix Resources, Inc. through its wholly owned subsidiary Cymedix Lynx
Corporation is the developer and provider of the Cymedix.com(R) suite of
fully-secure, patented Internet based software products, that will allow
instantaneous communication of high value added healthcare information among
doctor offices, hospitals, health management organizations and insurance
companies. Additional information about Medix Resources and its products and
services can be found by visiting its Web sites, www.medixresources.com and
www.cymedix.com, or by calling (800) 326-8773.
# # #
Information in this press release contains forward-looking statements that
involve risks and uncertainties that might adversely affect the Company's
operating results in the future to a material degree. Such risks and
uncertainties include, without limitation, the ability of the Company to raise
capital to finance the development of its software products, the effectiveness
and the marketability of those products, the ability of the Company to protect
its proprietary information, and the establishment of an efficient corporate
operating structure as the Company grows. These and other risks and
uncertainties are presented in detail in the Company's Form 10-KSB for 1999,and
its Form 10-QSB for the third quarter of 2000, which were filed with the
Securities and Exchange Commission on March 30, 2000, and November 14, 2000,
respectively. This information is available from the SEC or the Company.
This press release and prior releases are available on the
KCSA Public Relations Worldwide Web site at www.kcsa.com
