Healthcare Corporation of America Names Natasha Giordano Chief Executive Officer, Yaron Eitan Chairman of the Board of Directors

DENVILLE, N.J., Jan. 3, 2014 /PRNewswire/ -- Healthcare Corporation of America  (OTCBB: HCCAE), ("The Company") today announced the appointment by the Board of Directors of Natasha Giordano to succeed Gary Sekulski as Chief Executive Officer, effective January 3, 2014. Ms. Giordano was also elected a Director of the Board of Directors. In addition, the Company announced the appointment of Yaron Eitan, as its new Chairman of the Board of Directors, succeeding Gary Sekulski. Mr. Sekulski will continue to assist the Company with its business development activities.   

Ms. Giordano brings over 20 years of experience in various leadership positions in the healthcare industry.  Ms. Giordano served as the Chief Executive Officer, President and Director of Xanodyne Pharmaceuticals, Inc., a branded specialty pharmaceutical company with development and commercial capabilities focused on pain management, from May 2010 to August 2012 and Chief Operating Officer since 2009. Prior to that, she served as President, Americas, for Cegedim Dendrite (formerly Dendrite International Inc.) from 2007 to 2008 and as Senior Vice President of the Global Customer Business Unit of Cegedim Dendrite from 2004 to 2007. She had been with Cegedim Dendrite since 2000 and served as Group President for Global Business Unit for major customers, and Vice President of Global Sales. Earlier in her career, she worked nine years with Parke-Davis then owned by Warner Lambert in several sales and marketing positions including Strategic Alliance management and Sales Integration. Ms. Giordano holds a Bachelor's of Science degree in nursing from Wagner College in New York.

"I am very excited to join the management team of Healthcare Corporation of America as Chief Executive Officer," Ms. Giordano said. "I believe the company has a great foundation from which to continue building successful business lines. My priorities will be centered on profitable growth of the more established Pharmacy Benefit Management businesses, on accelerating the growth of the 340b SAAS cloud services business, and on broadening the consulting services business."

"I am happy to return to the Chairman role following the acquisition of Healthcare Corporation of America, and I am excited to welcome Natasha as our new CEO.  Natasha has a successful track record that includes small entrepreneurial companies as well as larger established companies in the healthcare space," said Mr. Eitan, Chairman of the Board.  "I believe she is the right person to lead the company as it transitions from a startup into a successful, larger organization in the years to come. I also want to thank Gary, who founded the company, for his service and dedication to the company, and I look forward to his continued contribution to its growth and success."

Mr. Eitan was the President, Chief Executive Officer and a director of Selway Capital Acquisition Corporation from inception until April 10, 2013, when it acquired Healthcare Corporation of America. Mr. Eitan is a partner of Columbus Nova Technology Partners, a technology-focused venture capital fund, and he is also the founder and managing partner of Selway Capital, an investment management firm whose portfolio includes private and public equities of companies in the healthcare and technology industries.  Prior to launching Selway, Mr. Eitan ran several companies, including Reshef Technologies, Patlex, and Geotek Communications.  He currently serves as Chairman of a number of companies including DVTel, Magnolia Broadband, and Software Technology, Inc.  He is also a Director of LifePrint Group and Cyalume Technology Holdings.  Mr. Eitan served in the Israeli Defense Forces for six years, where he reached the rank of Major. He received his bachelor's degree in economics from Haifa University and an M.B.A. from the Wharton School of Business at the University of Pennsylvania.

About Healthcare Corporation of America

Based in Denville, N.J., Healthcare Corporation of America's (HCCA) (www.hccarx.com) mission is to reduce prescription drug costs for clients while improving the quality of care for its members. Through its pharmacy benefit management (PBM) subsidiary, Prescription Corporation of America (PCA) (www.hca-pca.com), HCCA administers prescription drug benefit programs for employers ranging from commercial clients of various sizes and industries to business associations and trade groups, as well as local government entities, labor unions, charitable and non-profit organizations, and third-party administrators of self-insured benefit plans. In addition, through its 340Basics subsidiary (www.340Basics.com), HCCA provides software and services to help Covered Entities manage all processes related to the Federal 340B Drug Discount Program including registration, compliance, audit, claims processing, and access to pharmacies. Another newly formed subsidiary, Morris Consulting Services (MCS) (www.morrisconsultingservices.com) will work with organizations using up-to-date data and analytics to assess where costs can be reduced in prescription-drug plans, making coverage more affordable for plan sponsors and members.

Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the company does not assume a duty to update these forward-looking statements.

Contact: Yoram Bibring, Chief Financial Officer
(973) 983-6300

SOURCE Healthcare Corporation of America