Business & Finance
Business and Finance
Business and Finance
Fri, February 6, 2009 TIGroup Announces Appointment of Donald Parkerson as CFO; Rod Rivera Joins Advisory Board
BEVERLY HILLS, Calif.--([ BUSINESS WIRE ])--Tri-Isthmus Group, Inc. (TIGroup) (Pink Sheets:[ TISG ]), a provider of financial solutions to the healthcare industry, announced today the appointment of Donald (Donnie) Parkerson as the company's chief financial officer. The company also announced the addition of Rod Rivera to its advisory board.
Parkerson, an experienced financial executive in the healthcare industry, has been serving as CFO of the company's wholly owned subsidiary, [ Southern Plains Medical Group ]. He will continue to serve as CFO of Southern Plains Medical Group. Parkerson replaces Dennis Smith, who continues to serve as a member of the company's board of directors.
CEO David Hirschhorn said, "I am excited to welcome Donnie to the corporate management team as well as Rod to our advisory board. Donnie's long financial experience in the healthcare industry adds a wealth of knowledge to our management team as we continue to build our business. Rod's knowledge, expertise and contacts in healthcare investment banking also will be extremely useful as we continue to seek out and acquire new medical facilities to the six that we own now."
Hirschhorn continued, "I would also like to take this opportunity to warmly thank Dennis Smith for his service and excellent contributions. Dennis has been a highly valuable member of our team as we have taken the company from the idea stage to a rapidly growing business with a revenue run rate of over $40 million in a relatively short time frame. We wish Dennis every success going forward."
Parkerson has served in financial leadership positions with companies in healthcare businesses during his more than 30-year career. Parkerson specializes in implementing strategic organizational initiatives, partnerships and restatements and in providing organizational leadership. He previously served as senior vice president of accounting and corporate controller for Surgical Care Affiliates, LLC.
Earlier, Parkerson served as vice president and surgery division controller of HealthSouth Corp., one of the largest owners of ambulatory surgical centers in the U.S. with over 150 facilities. There, Parkerson was responsible for accounting and was the accounting lead for the surgery division offering memorandum as well as for the financing offering memorandum for Surgical Care Affiliates, LLC. Parkerson was part of the reorganization and restatement team of the ambulatory surgical division assisting in a $300 million bond offering and sale of the division to Texas Pacific Group. He also established and led HealthSouth's information technology audit group; managed company-wide financial enterprise risk assessment and implemented the ambulatory surgical division Sarbanes-Oxley financial closing and reporting compliance.
Previously, Parkerson co-founded Young, Parkerson & Co., LLP, where he served as an audit and technology consulting partner for 25 years. Parkerson holds a Bachelor's Degree in Business Administration, majoring in Accounting, from Delta State University. He is a Certified Public Accountant and a Certified Information Systems Auditor.
Rivera, who has substantial expertise in healthcare investment banking, has recently accepted a position as Senior Managing Director with [ Dresner Partners ] to focus on building the firm's healthcare investment banking practice. Previously, Rivera was a managing director and co-head of the healthcare services practice at Jefferies. Rivera has spent more than 19 years in investment banking. Prior to Jefferies, he was a managing director in the Healthcare Investment Banking Group at CIBC World Markets. Previously, he was a managing director at Credit Suisse First Boston Corporation and worked at Citicorp Securities after spending eight years in the United States Navy. He earned an MBA from Stanford Graduate School of Business, an MS from University of Southern California, and a BS from the United States Naval Academy.
About Tri-Isthmus Group, Inc.
Tri-Isthmus Group, Inc. (TIGroup) acquires and provides financial, operational and technological services to healthcare facilities primarily located in rural markets. The company promotes quality medical care by offering improved access and breadth of services. TIGroup unlocks the value of its investments by developing strong, long-term and mutually beneficial relationships with their physicians and the communities they serve. The company operates numerous medical facilities and employs over 430 people in Oklahoma and California. The company is building a portfolio of interests in ambulatory surgical centers, rural hospitals, surgical hospitals and other centers operating in partnership with physicians.
For more information, visit the company website at [ http://www.tig3.com ].
A profile for investors can be accessed at [ http://www.hawkassociates.com/profile/tisg.cfm ].
An analyst report on the company can be accessed at [ http://amistockreports.com/TISG_stockreport.html ]
For investor relations information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at 305-451-1888, e-mail: [ tigroup@hawkassociates.com ]. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at [ http://www.hawkassociates.com ]. To receive free e-mail notification of future releases for TIGroup, sign up at [ http://www.hawkassociates.com/about/alert/ ].
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's Forms 10-K and 10-Q filed with the SEC
