HOUSTON, Sept. 21, 2011 /PRNewswire/ -- Spine Pain Management, Inc. (OTC.BB: SPIN), through its Chairman and Chief Executive Officer, William F. Donovan, M.D., is pleased to announce that John Bergeron, CPA, who has held the position of Director and Chairman of the Audit Committee, will now assume a more active role in the company by filling its newly formed Chief Financial Officer position commencing October 1, 2011. SPIN is a rapidly growing specialty medical management and finance company, addressing the multi-billion dollar personal injury case sector.
Dr. Donovan stated, "John is a highly qualified, seasoned professional who early-on shared our vision for the potential of SPIN by joining our Board of Directors as Chair of the extremely important Audit Committee. His experience and guidance over the past 14 months has been important in the success we have experienced in developing SPIN's unique business model. I cannot think of a better testament to the future potential of SPIN than having John now agree to serve as our Chief Financial Officer."
Information regarding John Bergeron:
John Bergeron, CPA -Age 54. Mr. Bergeron has been a Director of SPIN since July 2010. He currently serves as President of Jolpeg Inc., a private firm that performs automotive repair services, a position he has held since May 2008. Also, he worked as Controller of Christian Brothers Automotive Corporation from May 2008 until October 2008, when he purchased a franchise. From May 2005 until May 2008, Mr. Bergeron served as Divisional Controller of Able Manufacturing, a division of NCI Group, Inc, where his responsibilities included financial reporting, budgeting and Sarbanes-Oxley Act compliance. Prior to that, Mr. Bergeron worked as controller and accounting manager of various Internet Companies and private firms. He has also worked as an auditor for Arthur Andersen. Mr. Bergeron has more than thirty years experience in financial management and corporate development of manufacturing and service industry companies. He has extensive experience in financial reporting of public companies, risk management, business process re-engineering, structuring and implementing accounting procedures and internal control programs for Sarbanes-Oxley Act compliance. Mr. Bergeron is a Certified Public Accountant. He received a Bachelor of Business Administration in Accounting from Lamar University in 1979.
Mr. Bergeron commented, "I have known Dr. Donovan and John Talamas for some ten years now. While I would normally be reluctant in joining the Board of a start-up company, their industry knowledge, work ethic and integrity was such that I could not say no to their invitation to join the Board at that time. Now, after seeing the dramatic growth from my position on the Board, I am honored to have been asked, and enthusiastically accepted this important executive position with the company."
For a better understanding of SPIN's operation, the 2nd Quarter, 2011 Investor Conference Call video gives an in-depth view on the company. This video can be accessed on the company's website at the following link:
About Spine Pain Management, Inc.:
We are a medical marketing, management, billing and collection company facilitating diagnostic services for patients who have sustained spine injuries resulting from traumatic accidents. We deliver turnkey financial management solutions to spine surgeons, orthopedic surgeons and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our financial management services enable healthcare providers to pre-fund diagnostic testing and non-invasive and surgical care, which prevents patients from being unnecessarily delayed or inhibited from obtaining needed treatment. We believe our patient advocacy will be rewarding to patients who obtain needed relief from painful conditions, and moreover, provides spine surgeons and orthopedic surgeons a solution to offset the cost of care prior to settlement.
Through our financial management system, we purchase medical receivables from the spine surgeons, orthopedic surgeons and other healthcare providers that diagnose and treat patients with musculo-skeletal spine injuries. We have affiliations with certain centers that provide the spine diagnostic injections and treatment. These centers have a contract with us that allow them to shift to us the financial risk in collecting the accounts receivable for the medical procedures. That is, the doctors at the centers are willing to be paid by us an "up front" percentage of the gross bill shortly after completion of each procedure, providing them with immediate cash flow. On the other hand, we take the risk of a rare, but possible "no settlement," along with having to wait for months until payment of all or some portion of the patient's bill at the time of final settlement.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, healthcare services demands, changes in healthcare practices, government regulation, and other factors over which the company has little or no control. The company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the company's recent filings with the SEC.
Spine Pain Management, Inc.
William F. Donovan, M.D.
Chief Executive Officer
SOURCE Spine Pain Management, Inc.