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TAMPA, FL / ACCESSWIRE / May 31, 2019 / Advanzeon Solutions, Inc. (OTC PINK: CHCR) ("Advanzeon" or the "Company") announced today that it has strengthened the depth of its management team and taken steps to provide a substantially more robust infrastructure. On May 28, 2019, the Company accepted the resignation of Mark T. Heidt, the Company's President for the past approximately five years, and assigned his responsibilities to Dr. Arnold Finestone, the Company's CFO and Member of its Board of Directors for over the past ten years. Mr. Heidt will continue to serve on the Company's Board of Directors and otherwise assist the Company as a consultant.
Additionally, Mr. Abdul Rauf was elected to the position of Chief Operating Officer of the Company. Mr. Rauf is a healthcare management professional in medical facility settings. In 2008, he founded and is the CEO of Phoenix Business Solutions, Inc., a company that provides innovative medical billing, practice management and consulting to provide reimbursement solutions to multi-specialty medical practices.
The Company has also appointed Lloyd Marcus as its Chief Accounting Officer. Mr. Marcus' accounting firm has served the Company for the past two years and was chiefly responsible for bringing the Company's financials up to date. In addition, the Company has made arrangements to increase its back-office, customer service staff by approximately twenty people.
The Company is expanding its marketing, business development and account management team in order to continue building its portfolio of clinic networks, unions, municipalities, corporations and insurers that provide an ever-increasing flow of patients needing sleep apnea services. In so doing, the Company expects to attain higher revenue, economies of scale and profit across broader sources of sleep apnea patients.
The driver for all these changes is management's belief that by bringing its financials within reach of being current in its SEC filings and increasing the number of its diverse customers through its wholly-owned subsidiary, Pharmacy Value Management Solutions, Inc., in the marketing of its SleepMaster Solutions™ sleep apnea program, it will experience substantially higher visibility in the financial, corporate and consumer marketplace resulting in the need for a more robust management and back-office staff. Management is confident in its projections of increased patient flow and the need to make certain that the Company's staff is sufficient to service those patients.
Clark A. Marcus, the Company's CEO, stated, "Over the past three years, the Company's management has worked diligently to gain a premier position in the sleep apnea marketplace such that it be considered the number one medically-driven company, nationally, servicing the sleep apnea population – especially in the commercial transportation industry. Management believes that it has achieved that goal and is unparalleled in the services it provides to its patients and accounts. Anticipating a material increase in our patient flow, it was critical that we make certain that we have the management team and infrastructure to support that flow and provide the premier services that our patients and customers expect. I believe we have taken the appropriate steps and that goal has been accomplished.
The Company also announced that it has signed an agreement extending the lease of its current Florida office facility for an additional three-year period at a per square foot rate that management finds exceptionably favorable.
About Advanzeon Solutions, Inc.
Advanzeon Solutions, Inc. (CHCR) through its subsidiary, owns and operates the nation's most complete sleep apnea program known as SleepMaster Solutions™ (the "Program"). Headquartered in Tampa, Florida, the Company's Program is available in all fifty states and Washington D.C. The Program focuses on personalized attention, flexibility, a commitment to high-quality services and innovative approaches that address both the specific needs of clients and changing healthcare industry demands. For more information, visit our website at www.advanzeon.com.
Safe Harbor Statement
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.
SOURCE: Advanzeon Solutions, Inc.
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