M*Modal Announces New Board

FRANKLIN, TN--(Marketwired - Aug 14, 2014) - M*Modal, a leading provider of clinical documentation and Speech Understanding™ solutions, today announced its new Board of Directors, appointed upon the completion of the company's financial restructuring and emergence from Chapter 11 on July 31. The company also announced the formation of an Interim Executive Committee to oversee the day-to-day operations of M*Modal and direct the go-forward strategy. This change reflects the decision by CEO Duncan James to leave the company, effective August 22.

The new Board members include:

• Michael O'Boyle, former President and CEO of Parallon Business Solutions and former Chief Operating Officer of Cleveland Clinic
• William Allen, Chairman of the Board of Managers for Werner International
• Eugene Davis, Chairman and CEO of PIRINATE Consulting Group and member of multiple Boards
• Jeffrey Goldberg, Chair of the Board of Physiotherapy Associates and co-Chair of the Board of Angiotech/Surgical Specialties Corporation
  
  

The Interim Executive Committee includes Jeffrey Goldberg, Chair of the Board at M*Modal and Board member Michael O'Boyle. Members of M*Modal's senior executive team will report into this office, which will be in place while the company searches for a permanent CEO with the assistance of a leading executive search firm.

"I am very proud of M*Modal's accomplishments," said Mr. James. "The company emerged from the restructuring process with a strong financial foundation and poised to extend its leadership position in clinical documentation and Speech Understanding."

"The Board appreciates Duncan's contributions and his leadership during the company's recent successful financial restructuring process," said Mr. Goldberg. "Establishing an Interim Executive Committee will allow the Board to work directly with M*Modal's strong management team while we pursue a successor CEO. Looking ahead, we will be identifying opportunities to grow while working with the executive team to ensure M*Modal remains focused on meeting the needs of our core customers."

Michael O'Boyle has over 25 years of experience providing leadership to some of the top health care companies in the U.S. He is the former President and CEO of Parallon Business Solutions, an HCA Holdings company, which delivers consulting and business process outsourcing services to hospitals and other care facilities. Prior positions include serving as President of United Health Networks, the network services company of UnitedHealthcare, as well as leading the world-renowned Cleveland Clinic as its Chief Operating Officer and Chief Financial Officer. Mr. O'Boyle is currently a member for The Greenspring Fund Board, Pinstripe Holdings Advisory Board, Valence Health Advisory Board, and holds several Board and Council positions at St. Catherine University.

William Allen has extensive leadership and Board-level experience at a number of multinational companies. He is currently Chairman of the Board of Managers for Werner International, having served as President and CEO of Werner's U.S. operations. Mr. Allen is also a Board member of United Subcontractors Inc., and has held Board positions at Constar, Ames Taping Tools, Oriental Trading Company and others.

Eugene Davis brings decades of experience in the areas of strategic planning, mergers and acquisitions, finance, accounting, capital structures and Board practices. He is Chairman and CEO of PIRINATE Consulting Group, which specializes in turnaround management and strategic planning advisory services. Since forming PIRINATE in 1997, Mr. Davis has advised and managed a number of businesses operating in such diverse sectors as telecommunications, automotive, medical, energy and financial services. He currently serves on the Board of Directors for U.S. Concrete, Inc., Harbinger Group, Inc., Spectrum Brands, Inc. and WMI Holdings Corp.

Jeffrey Goldberg has spent much of his career providing executive leadership and legal counsel to companies in health care services and medical technology, including IncuMed, Advanced Bionics, Orthopedic Hospital, and the Doheny Eye Institute. Current Board positions include Physiotherapy Associates (Chair) and Angiotech Pharmaceuticals/Surgical Specialties (co-Chair).

About M*Modal
M*Modal is a leading healthcare technology provider of advanced clinical documentation solutions, enabling hospitals and physicians to enrich the content of patient electronic health records (EHR) for improved healthcare and comprehensive billing integrity. As one of the largest clinical transcription service providers in the U.S., with a global network of medical editors, M*Modal also provides advanced cloud-based Speech Understanding™ technology and data analytics that enable physicians and clinicians to include the context of their patient narratives into electronic health records in a single step, further enhancing their productivity and the cost-saving efficiency and quality of patient care at the point of care. For more information, please visit www.mmodal.com, Twitter, Facebook and YouTube.