Radiologix (AMEX:RGX)
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Radiologix Names Michael N. Murdock Chief Financial Officer
Years of Finance and Operations Experience Add Depth to Management Team
DALLAS, Jan. 4 /PRNewswire-FirstCall/ -- Radiologix, Inc. (AMEX:RGX) announced
today that Michael N. Murdock has been appointed senior vice president and
chief financial officer. Mr. Murdock will join Radiologix on February 1, 2005,
replacing Richard J. Sabolik.
Mr. Murdock has spent the majority of his career in senior financial positions
with health care companies, ranging in size from venture-backed startups to
multi-billion dollar corporations, including positions with American Medical
International ("AMI") and its successor American Medical Holdings, Inc.
("AMH"), a $2.4 billion in revenue publicly traded owner and operator of acute
care facilities that was acquired in March 1995 by National Medical
Enterprises, now Tenet Healthcare.
In his 13 years with AMI and AMH, Mr. Murdock gained a great deal of finance
experience, including, while serving as vice president and treasurer, playing a
leading role in the $3.4 billion leveraged buyout of AMI, the $250 million
public offering of AMH, the refinancing of $210 million of subordinated debt,
and multiple other financings. In addition, through tight cash management and
expense controls, Mr. Murdock was instrumental in reducing AMH's debt by
approximately $1.8 billion over five years.
"We are very pleased and fortunate to attract someone with Mike's background,
talent and ability to Radiologix," said Sami S. Abbasi, president and chief
executive officer of Radiologix. "Mike brings to Radiologix a great deal of
directly relevant health care finance and operations experience -- controlling
costs, understanding the capital markets, and working with physicians -- that
will be helpful as we build on the progress we have made over the last year in
improving our operational and financial performance. Mike will fill an
important role in building our management team, and he will be a significant
part of crafting and executing strategies to grow Radiologix and increase
shareholder value."
For the past five years, Mr. Murdock has served as chief financial officer of
Dental One, a venture capital-backed owner and operator of 48 dental practices
in Texas, Arizona, Colorado and Utah.
From 1997 to 1999, Mr. Murdock served as chief financial officer of Physician
Reliance Network, Inc. ("PRN"), a $398 million in revenue publicly traded
physician practice management company, specializing in oncology, that
affiliated with 361 physicians and operated 29 owned or leased comprehensive
cancer centers. In 1999, PRN merged with American Oncology, Inc., to become
U.S. Oncology, Inc., the nation's largest health-care network dedicated to
cancer treatment and research.
Mr. Murdock began his career in 1978 as an auditor with Arthur Andersen after
receiving a B.S. degree from California State University, Northridge.
President and chief executive officer of Radiologix, Sami S. Abbasi, the
company's former chief financial officer, will act as interim CFO until January
31, 2005.
About Radiologix
Radiologix (http://www.radiologix.com/) is a leading national provider of
diagnostic imaging services, owning and operating multi-modality diagnostic
imaging centers that use advanced imaging technologies such as positron
emission tomography ("PET"), magnetic resonance imaging ("MRI"), computed
tomography ("CT") and nuclear medicine, as well as x-ray, general radiography,
mammography, ultrasound and fluoroscopy. The diagnostic images created, and
the radiology reports based on these images, enable more accurate diagnosis and
more efficient management of illness for ordering physicians. Radiologix owned
or operated 88 diagnostic imaging centers located in 13 states as of September
30, 2004.
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DATASOURCE: Radiologix, Inc.
CONTACT: Paul R. Streiber, Investor Relations, +1-214-303-2702,
Web site: http://www.radiologix.com/