ATLANTA, April 11, 2016 /PRNewswire/ -- Streamline Health Solutions, Inc. (NASDAQ: STRM), provider of the Looking Glass® platform of integrated solutions and analytics supporting revenue cycle optimization for healthcare enterprises in the new value-based world, today announced the appointment of Mr. Shaun Priest as Senior Vice President and Chief Growth Officer, effective April 6, 2016. Mr. Priest will report directly to David Sides, President and Chief Executive Officer, Streamline Health.
As Chief Growth Officer, Priest will be responsible for leading the sales function for the Company, managing, mentoring, building and driving a solution-focused sales team that can execute sales strategies, drive customer relationships and implement the Company's business objectives. Priest will be responsible for:
- Providing strong leadership to scale and develop a high-performing sales organization in the selection, motivation and retention of sales professionals that can drive growth in the market, while leading the organization to develop new strategies for follow-on offerings;
- Creating a performance-based team culture with clear accountability and a sense of urgency for achieving results;
- Owning customer relationships and being responsible for overall customer satisfaction; and
- Collaborating with external partners to achieve maximum potential of the brand.
"We are pleased to have Shaun join our company in the newly created position of Chief Growth Officer," stated David Sides, President and Chief Executive Officer, Streamline Health Solutions, Inc. "As previously stated, we are actively investing in sales and marketing to ramp up our bookings and revenue growth going forward. We fully expect Shaun to make major contributions from resources to structure that will positively impact our sales."
Priest was most recently Senior Vice President of Strategic Accounts & Business Development at Influence Health, where he worked directly with their client base of over 1,000 hospitals. Priest's responsibilities included sales, account management, partnerships, and strategies for both the United States and Canadian markets. During Priest's tenure at Influence Health, recently rebranded from Medseek, revenues grew over 300% and the company was successfully sold to Silver Lake Sumeru and Essex Woodland private equity firms in 2012.
Priest's extensive background includes eight years with Influence Health and over 20 years of healthcare information technology experience in management, sales, business development, marketing, support, and project implementations. Prior to joining Influence Health, Priest held Vice President positions with Eclipsys (Now Allscripts) and ValiMed by CDEX. He also held implementation and project management positions at both Cerner and Meditech.
Mr. Priest graduated, with honors, from Providence College in Rhode Island with a Bachelor of Arts in Business Administration and a minor in Western Civilization. Shaun lives in Atlanta, Georgia.
In connection with his hiring, Mr. Priest received an award of an option to purchase 75,000 shares of Streamline Health common stock with an exercise price equal to the closing share price on the date of the grant, or $1.41. The option will vest in 36 equal monthly installments, with the first installment vesting on May 6, 2016, subject to his continued employment with the company through the applicable vesting dates. The option will be subject to accelerated vesting in connection with certain qualifying transactions constituting a change of control of the company. This award was made outside of Streamline Health's stockholder-approved equity incentive plan and was approved by the company's independent directors as an inducement material to Mr. Priest's entering into employment with the company in reliance on NASDAQ Listing Rule 5635(c)(4), which requires this public announcement.
About Streamline Health
Streamline Health Solutions, Inc. (NASDAQ: STRM) is a healthcare industry leader in capturing, aggregating, and translating enterprise data into knowledge – actionable insights that support revenue cycle optimization for healthcare enterprises. Our Looking Glass® platform delivers integrated solutions and analytics that enable providers to drive reimbursement in a value-based world. We share a common calling and commitment to advance the quality of life and the quality of healthcare – for society, our clients, the communities they serve, and the individual patient. For more information, please visit our website at www.streamlinehealth.net.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995
Statements made by Streamline Health Solutions, Inc. that are not historical facts are forward-looking statements that are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from those reflected in the forward-looking statements included herein. Forward-looking statements contained in this press release include, without limitation, statements regarding the Company's expected sales, bookings, revenue, future investments in sales resources, and related expectations and assumptions. These risks and uncertainties include, but are not limited to, the timing of contract negotiations and execution of contracts and the related timing of the revenue recognition related thereto, the potential cancellation of existing contracts or clients not completing projects included in the backlog, the impact of competitive solutions and pricing, solution demand and market acceptance, new solution development, key strategic alliances with vendors and channel partners that resell the Company's solutions, the ability of the Company to control costs, availability of solutions from third party vendors, the healthcare regulatory environment, potential changes in legislation, regulation and government funding affecting the healthcare industry, healthcare information systems budgets, availability of healthcare information systems trained personnel for implementation of new systems, as well as maintenance of legacy systems, fluctuations in operating results, effects of critical accounting policies and judgments, changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other similar entities, changes in economic, business and market conditions impacting the healthcare industry generally and the markets in which the Company operates and nationally, and the Company's ability to maintain compliance with the terms of its credit facilities, and other risks detailed from time to time in the Streamline Health Solutions, Inc. filings with the U. S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revision to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.
Streamline Health Company Contact:
SVP, Chief Marketing Officer
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SOURCE Streamline Health Solutions, Inc.