SOURCE: Allocade, Inc.

August 28, 2008 09:30 ET

Veteran Healthcare Industry Executive Rick Smith Joins Allocade, Inc. as President and CEO

MENLO PARK, CA--(Marketwire - August 28, 2008) - Allocade, Inc., a developer of innovative healthcare informatics solutions, announced today that Rick Smith joined the company as president and chief executive officer. Smith, who brings more than 25 years of experience in leading global sales and marketing organizations for healthcare companies, also serves on Allocade's Board of Directors.

Prior to joining Allocade, Smith spent more than 14 years serving in various senior management positions at both Siemens Medical Systems and Acuson Corporation. Most recently, he served as senior vice president of global sales and marketing for the ultrasound business group at Siemens and was responsible for taking the group to a dominant no. 1 market position in North America and a no. 2 market position globally. While at Acuson, Smith served in the same position and was instrumental in positioning the company as the no. 1 ultrasound manufacturer in North America. Prior to this, Smith spent over 10 years at Toshiba Medical Systems in a variety of senior management positions. Smith holds a bachelors degree in education from Western Illinois University and a masters degree in education from Southern Illinois University.

"Rick has extensive experience in creating and building healthcare companies into world class solution providers," said Henry Wilder, board director of Allocade. "With Rick's proven track record in the industry and his depth of knowledge, we have a powerful team in place to maximize Allocade's growth and leadership."

Allocade has developed On-Cue™ Reflow Technology to provide a solution that increases workflow and throughput hospital-wide. This new software solution utilizes artificial intelligence to dynamically reallocate resources in major hospital departments, such as Radiology, Surgery and Cardiology for example, as conditions change. As a result, hospitals are able to optimize patient flow and better manage constant disruptions efficiently and effectively, as well as improve overall profitability.

The genesis of On-Cue technology comes from NASA, where Allocade's Founder and Chief Technology Officer, Don Rosenthal, worked as a leading computer scientist within the Artificial Intelligence Application Group at the NASA Ames Research Center. The underlying On-Cue engine is the result of Rosenthal's work to optimally utilize the limited resources on the Hubble Space Telescope. Allocade was founded in order to apply this technology to the problem of optimizing patient flow and accommodating schedule changes in real time throughout medical facilities.

To date, customers utilizing the On-Cue solution have reported a considerable decrease in time spent coordinating schedules, as well as a decease in overall phone time. In addition, customers report a significant reduction in exam backlog. In fact, one customer has confirmed a 12 percent increase in CT volume, while decreasing their exam backlog time from two weeks down to one day.

About Allocade

Allocade, headquartered in Menlo Park, Calif., was founded in 2004 to develop a solution that effectively addresses patient flow management in hospitals while accommodating the continuous disruptions that occur hourly. The company's management team includes former top executives from Siemens Medical Systems, Philips Medical Systems, Winster, Acuson Corporation, Sierra OnLine, Stentor, Inzap and the NASA Ames Research Center. For more information, visit www.allocade.com.

On-Cue is a trademark of Allocade, Inc.

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