CINCINNATI, Aug. 5 /PRNewswire-FirstCall/ -- The Board of Directors of Streamline Health Solutions, Inc. (Nasdaq: STRM) today announced that, in an effort to further implement best practices for corporate governance, the Company should have an independent, non-management director as the Company's Chairman of the Board. In that regard the Board has appointed Jonathan R. Phillips, a current independent member of the Company's Board of Directors, as Chairman of the Board of Directors of Streamline Health effective immediately. J. Brian Patsy, who had previously served as the Company's Chairman of the Board since the Company's inception, will continue as a director and as Chief Executive Officer of the Company.
The Board anticipates that the Chairman of the Board will serve for a two-year term, subject to annual re-election by shareholders. Mr. Phillips' initial term as Chairman of the Board is retroactive to the Company's most recent annual shareholder meeting on May 27, 2009.
Jonathan R. Phillips, has been a Director of Streamline Health since May 2005. He is a Managing Director and the founder of Healthcare Growth Partners, a provider of strategic and financial advisory services to healthcare technology companies. Prior to Healthcare Growth Partners, Mr. Phillips was a member of the Healthcare Investment Banking Group at William Blair and Company, LLC, where he provided financial advisory services to healthcare growth companies in the areas of mergers and acquisitions and equity offerings, including initial public offerings, secondary offerings and private placements. Prior to William Blair, he served in various roles in the healthcare practice of Deloitte Consulting where he provided strategic consulting services to healthcare providers and other organizations. Mr. Phillips is a
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