SOURCE: Health Savings Technology

November 13, 2006 11:47 ET

Health Savings Technology Appoints New Management Team to Spearhead Growth in Customer-Directed Healthcare Industry

IRVINE, CA -- (MARKET WIRE) -- November 13, 2006 -- Health Savings Technology, a premier application service provider for the healthcare industry, today announced the appointments of Steve Fowler as its new President and Chief Executive Officer, and Steven King as Vice President of Sales and Marketing. The appointment of Fowler and King to the management team is a foundational step in the company's vision to deliver integrated workflow solutions for the emerging customer-driven healthcare industry.

"Both Fowler and King bring years of experience and proven expertise that will enable them to successfully launch the company into the forefront of this dynamic industry," said Bob Anderson, Chairman of Health Savings Technology. "Their unique perspectives and proven leadership abilities in successfully establishing growth in new markets will serve the company well as it delivers comprehensive workflow capabilities that improve connectivity between all consumer-driven healthcare entities."

Prior to joining Health Savings Technology, Fowler served as president and chief executive officer of GoTV Networks, where he successfully raised $20-plus million in capital and was primarily responsible for the significant growth revenue of the company. Earlier in his career, Fowler spent more than 20 years serving in various executive positions in the wireless telecommunications industry with Bellsouth Corp. and predecessor companies. He earned his Masters of Business Administration from the University of Houston.

A veteran in both the healthcare and service industries, King brings more than 25 years of executive and sales management experience to his position with Health Savings Technology. Prior to this appointment, he served as vice president of sales at 3E Company where he successfully restructured the entire sales organization as the business repositioned itself to offer comprehensive outsourced data solutions and services in the environmental, health and safety market. Earlier in his career, King was the executive vice president of sales and field operations for Woodside Biomedical, a company acquired by Abbott Laboratories. He also served as area vice president for Pyxis Corp., now a division of Cardinal Healthcare, and held sales and management positions with IVAC Corp., formally a division of Eli Lilly. He earned a bachelor's degree in pre-law and political science from Middle Tennessee State University as well as a certification in Global Commerce from California State University.

According to Anderson, while the concept of customer-directed healthcare is not new, tax-advantaged savings account options such as health savings accounts are clearly on the rise. The widening appeal of these choices necessitates comprehensive solutions that cohesively bridge information between health plans, third party administrators and financial institutions.

Health Savings Technology's flagship solution, Reconciler™, is an intuitive healthcare administrative tool that empowers consumers to take control and self-direct their healthcare spending accounts. With this Web-based solution, users can easily manage a variety of plans such as their healthcare, flexible spending and health reimbursement accounts as well as other investments such as mutual funds and 401k plans.

About Health Savings Technology:

Founded in 2003 and headquartered in Irvine, Calif., Health Savings Technology is a premier healthcare application service provider dedicated to improving interoperability essential for consumer-driven healthcare. For more information about Health Savings Technology, visit our web site at www.hstechnology.com or contact: