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TeleTracking Technologies to Focus on Growth

Patient flow leader positioned for expanding role of patient flow automation

PITTSBURGH, Jan. 6 /PRNewswire/ -- Since 1991, TeleTracking Technologies has been helping its clients, now more than 700 hospitals, solve their patient flow and bed management challenges. The need to increase capacity and improve patient flow is now even more critical, as over half of U.S. hospitals have postponed building and expansion plans because of the current economy, according to a recent American Hospital Association survey.

TeleTracking Technologies realized over 500% growth in the past seven years, and is anticipating another period of expansion. In preparation, TeleTracking Technologies has expanded its management team and forged new strategic business development arrangements to provide cost-effective, proven automated patient flow solutions which can maximize existing capacity through more efficient bed management.

According to company President and CEO, Anthony M. Sanzo, "In 2008, two competing providers of patient flow and visibility applications divested by selling assets to multipurpose IT corporations. TeleTracking Technologies believes strongly in the need to provide hospitals with best of breed solutions to the complex problems which affect patient flow. We see this as a time to invest in the future, not divest." Sanzo today announced the appointment of Mike Nelson as Senior Vice President of Business Development, and the promotions of Don DeCorte to Senior Vice President/Chief Technology Officer and Kirk Stephen to Executive Vice President. Mr. Stephens will continue as Chief Financial Officer (CFO) and Chief Operating Officer (COO).

Mr. Nelson will assist the executive leadership team in strategic acquisition and business development initiatives to the company's portfolio into other areas along the patient flow continuum. He brings to that role a history of managing corporate growth, including broad experience in venture capital, investment banking, strategic healthcare consulting, mergers and acquisition, and management of banking operations, information technology, sales and marketing and regulatory compliance.

A former managing director/vice president of Redleaf Group, Nelson raised capital for a number of technology companies and played key roles in several joint ventures. He also founded and served as executive vice president and manager of VentureBank, the merchant banking unit of PNC Bank Corporation which targeted high technology and growth companies at all stages of development.

Since joining TeleTracking as VP of Development, Mr. DeCorte has assumed increasing levels of responsibility for the company's existing and future technology platforms, especially its newly designed TeleTracking XT product platform. His move to Senior Vice President positions the company for growth and solidifies TeleTracking's long term commitment to developing the industry's most complete, end-to-end patient flow applications for clients and prospects.

The Company's current CFO and COO, Mr. Stephen's promotion to Executive Vice President recognizes his many years of contributions to TeleTracking's previous growth. It also helps position the Company for future senior management growth as it concentrates its efforts to grow its product portfolio in other areas of patient flow automation.

About TeleTracking Technologies

TeleTracking Technologies is the world-leading provider of automated patient flow and capacity management solutions. With more than 740 hospitals using its patient flow solutions, and over 50 software engineers and related professionals in its employ, TeleTracking has committed to maintaining its lead in the automated flow technology industry which it created. The privately-held, Pittsburgh based company, ranked "Category Leader - Bed Management" by healthcare marketing firm KLAS for the last two years, is one of the fastest growing companies in the healthcare technology sector.

SOURCE TeleTracking Technologies
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