VendTek Systems Announces Appointment of Interim Chief Financial Officer
14 Mayo 2012 - 10:12PM
PR Newswire (Canada)
TSX Venture Exchange: VSI VANCOUVER, May 15, 2012 /CNW/ - VendTek
Systems Inc. (the "Company"), a developer and licensor of software
for the global prepaid and financial services markets, today
announced that, further to its news release of April 23, 2012, it
has appointed Irwin Studen as interim Chief Financial Officer and
Secretary, replacing Nurez Khimji in such roles. Mr. Studen is a
financial executive with private and public company Chief Financial
Officer experience in technology based businesses. Most recently he
was Senior Vice President & Chief Financial Officer of
GetWellNetwork, Inc., a leading provider of software-as-a-service
interactive patient care solutions to acute care hospitals
throughout the US. Previously, Mr. Studen was Senior Vice-President
& Chief Financial Officer of SXC Health Solutions, Inc.,
currently a $5.0 billion revenue provider of software systems,
transaction processing services and pharmacy benefit management
solutions to managed care organizations, government entities and
self-insured employer groups in the US and Canada. During his
six-year tenure there, the company achieved over a ten-fold
increase in market capitalization from $40M to almost $500M. Mr.
Studen has also held positions in private equity, consulting for
GTCR Golder Rauner, a $9.0 billion fund, in health care IT M&A,
and was Interim Chief Financial Officer with Wireless Matrix, a
leading provider of telematics software, Mr. Studen holds an MBA
from Columbia Business School and a BS and MS in Electrical
Engineering from the Columbia School of Engineering & Applied
Science. The Company will continue its search for a candidate to
fill the positions on a permanent basis and will provide an update
to the market once a permanent replacement has been determined.
About VendTek VendTek is headquartered in Vancouver, British
Columbia, Canada, and develops and licenses automated transaction
system software and supporting technologies that improve the
efficiency of product delivery, reduce costs to clients and offer
superior safety measures. VendTek's customers, its division, Now
Prepay and its subsidiaries are using e-Fresh™ software to build
electronic, prepaid services networks, which enable consumers to
purchase prepaid services via point-of-sale terminals (POS) and
self-serve terminals connected to a central e-Fresh™ server. This
system creates significant value through improved efficiencies
compared to the traditional distribution paradigm. e-Fresh™ reduces
shrinkage and inventory requirements while improving consumer
access to prepaid services by completely eliminating physical cards
and vouchers. For further information please visit the Company's
websites www.vendteksystems.com and www.nowprepay.com. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
VendTek Systems Inc. CONTACT: contact Samantha White at
604-805-4653 or 1-800-806-4958or investment@vendteksystems.com.
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