It’s with great pleasure that I welcome Joe Condurso as our new president and chief operating officer. It’s an exciting time for PatientSafe Solutions and a time of continued evolution for healthcare delivery. The health system is at a crossroads, challenged by the need to improve patient safety and respond to federal policies that require the adoption of electronic medical records and formation of accountable care organizations in order to align reimbursement with quality improvement. It’s been estimated that medical errors cost the healthcare system $17 billion a year to deal with the consequences of adverse safety events, such as when a patient is given the wrong medication or an incorrect dosage. That’s $17 billion of unneeded medical spending for safety problems that ought to be preventable. Such statistics have created a demand for intelligent care management and technology that helps nurses and other caregivers better coordinate patient care. And that is precisely why I am thrilled to have Joe join our team at this time. He has a rare track record that combines experience across patient safety, medical devices, mobile health, and information technology industries. He has delivered critical patient care improvements to healthcare delivery including the industry’s first wireless network for intravenous therapy management with patient safety software and electronic medical record connectivity, and a first of its kind telehealth solution for remote monitoring of patients with chronic conditions. I look forward to partnering with him, our team, our customers, and the industry at large to see how we can all drive change for the better together. Welcome Joe.
–Jim Sweeney, Chairman and CEO