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Shealy Promoted to CEO of HTP, Inc.; Company Expects Growth to Accelerate in 2006
COLUMBUS, Ohio --(Business Wire)-- Dec. 2, 2005 -- HealthCare Transaction Processors, Inc. (HTP), a leading developer of clinical and administrative software to the healthcare industry, today announced the promotion of Ray M. Shealy to chief executive officer.
Shealy, 38, joined the company in May as president and chief operating officer. He brings more than 15 years of leadership experience within large corporations and technology start-up companies to HTP.
Shealy takes over the CEO role from Co-founder Dennis Swartzlander, who remains chairman of the HTP Board of Directors. Co-founder Fred Richards continues to serve as executive vice president and chief technology officer.
"Fred and I have been impressed by the leadership that Ray brings to HTP," Swartzlander said. "In less than a year, he has helped us to launch two new products and to accelerate our growth and expansion into the healthcare provider and RHIO markets. We feel confident that he has the skills to take HTP to its next level of success.
"Fred and I will continue as senior executives of HTP," Swartzlander added. "We are extremely pleased to work with someone like Ray who shares our vision and passion for new IT solutions in healthcare."
Shealy's entrepreneurial and corporate experience give him a strong command of IT services, with significant expertise in business development, profit-and-loss management, capital acquisition, marketing, systems integration, and technology management.
"I appreciate the opportunity to work with visionaries such as Dennis Swartzlander and Fred Richards in using information technology to transform healthcare in America," Shealy said. "I am confident that 2006 will be a year of accelerated growth for the company."
With sales increases averaging more than 200 percent annually, HTP ranks among the fastest-growing companies in central Ohio and the nation. The company's growth has been attributed to its leadership role in developing the information architecture for Regional Health Information Organizations (RHIOs) as well as to the rapid adoption of its software by healthcare providers and payers. Company offerings include three core products:
-- HTP Ambassador(SM) links providers with payers and other providers and streamlines their exchange of information related to clinical patient care and insurance claims.
-- HTP Sentinel(SM) improves revenue cycle management for hospitals and other healthcare providers.
-- HTP Transaction Manager(TM) enables secure electronic processing of HIPAA-compliant eligibility, claims and payment transactions by insurance companies and other payers of healthcare claims.
Before joining HTP, Shealy spent nearly eight years with T-Systems North America Inc., of Lisle, IL, growing it to a $300 million IT services and network company. He joined T-Systems after the company acquired Debis IT Services, a systems integration firm focused on improving IT infrastructure and asset management for Fortune 1000 companies. Debis IT had previously acquired Technology Asset Management, which Shealy co-founded in 1997. He has also held managerial positions with IBM Global Services and Chrysler Systems Leasing and began his career as a financial accountant with Ernst & Young in Chicago.
The Bucyrus, Ohio native earned a Bachelor of Science degree in accounting from The Ohio State University and is a Certified Public Accountant. He lives with his wife Suzanne and children Claudia, Jack and Ben in Dublin.
About HTP, Inc.
HTP develops software for the healthcare industry that improves efficiency, profitability and service quality for hospitals, insurance companies, physician groups, managed care organizations, third-party administrators and public sector health plans. The company's software also enables secure information exchange through Regional Health Information Organizations (RHIOs).
Based in Columbus, Ohio, HTP supports 170 customers, including 90 hospitals and 60 health plans, by translating and moving more than 15 million transactions per month. HTP technology powers the Utah Health Information Network (UHIN), the nation's first RHIO. A 2004 and 2005 Inc. 500 company, HTP and its executives have been recognized for leadership by the Ohio Third Frontier Project, the Ernst & Young Entrepreneur of the Year program and the Columbus Technology Council. Notable HTP customers include Ohio Medicaid and Utah Health Information Network.
For more information on HTP or to learn how its software is transforming healthcare information exchange for providers and payers, call 614.396.4549 or go to www.htp-inc.com.
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