SOURCE: Hx Technologies, Inc. (HxTI)

April 23, 2007 06:00 ET

Veteran Healthcare Executive to Lead Hx Technologies

CareGain Founder and CEO David Lenihan Tapped to Head Up HxTI and Spearhead Diagnostic Imaging Management Services for Managed Care Organizations and Other Healthcare Payers

PHILADELPHIA, PA -- (MARKET WIRE) -- April 23, 2007 -- Hx Technologies, Inc. (HxTI, www.hxti.com), the leading provider of diagnostic imaging management services and health information exchanges, today announced that it has appointed Board of Directors member David J. Lenihan as chief executive officer.

In taking the helm at HxTI, Mr. Lenihan will be stepping down as CEO of CareGain (www.caregain.com), the technology-based consumer-directed health company he co-founded and sold to Fiserv in January 2006. Mr. Lenihan will be succeeding Elliot Menschik, MD PhD, HxTI's founder and current CEO who remains President and CTO of the company and will continue to lead its commercialization and R&D activities.

Mr. Lenihan brings deep expertise as a world-class healthcare entrepreneur best known for launching and rapidly establishing CareGain as the leader in information technology for the design and administration of consumer-directed health plans including health savings accounts (HSAs), health reimbursement accounts (HRAs) and flexible spending accounts (FSAs). His success in engaging with healthcare payers will play a critical role as HxTI continues to expand its diagnostic imaging management services to managed care organizations. Further, his significant experience in both investment banking and government affairs will contribute significantly to the company's emerging strategic alliances and expanded services to public payers such as Medicare and Medicaid as well as regional health information organizations (RHIOs).

"As a director of the company, David's involvement and impact have been deep and far-reaching and so we are delighted that he has agreed to take an even more active role in leading the next phases of our growth," said Dr. Menschik. "There are precious few healthcare entrepreneurs able to build and lead an organization to the tremendous success of a CareGain. We're privileged to have the benefit of his leadership as we expand our health information exchange services to create and deliver value from more accurate and timely diagnoses to the elimination of redundant diagnostic procedures."

About Hx Technologies, Inc. (www.hxti.com)

Hx Technologies (HxTI) is a healthcare services and IT company that works with health plans and providers to implement and operate the next generation of diagnostic imaging management programs. We offer solutions that leverage the real-time electronic exchange of imaging results between providers to increase the accuracy and timeliness of diagnoses and interventions while eliminating redundant and avoidable procedures. With the support of the National Institutes of Health, the company has pioneered the building and operation of secure electronic networks that enable patients' medical information to follow them privately and seamlessly wherever they receive care. HxTI launched and operates the Philadelphia Health Information Exchange, the nation's first exchange of diagnostic imaging data, which has been recognized as one of the few functioning HIE/RHIOs in the United States.

Contact Information

  • For further information, contact:
    Hx Technologies, Inc.
    340 North Twelfth Street, Suite 321
    Philadelphia PA 19107-1100
    +1 215 923 4984
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