BLUE BELL, Pa.--(BUSINESS WIRE)--QuiqMeds™, a provider of point-of-care prescription fulfillment technologies and solutions, today announced the appointment of Steven H. Kane as Chief Executive Officer. Mr. Kane is a recognized healthcare industry executive with a 30-year career as a successful sales oriented CEO with expertise in new market development and significant revenue generation.
“We are pleased to have appointed Steven H. Kane as our Chief Executive Officer,” said Walter Witoshkin, Executive Chairman of QuiqMeds. “Steven is a healthcare professional of the highest caliber and significantly strengthens our management team as we continue to implement our growth strategy that has led to a four-fold increase in revenues in the past two years. Although this growth was remarkable given the economic conditions during which it was achieved, we believe Steven shares our passion and vision for the QuiqMeds Solution such that he will be instrumental in fostering far greater market adoption. We are confident that given his track record of working with companies from early stages to valuations of nearly $1 billion -- on two separate occasions during his career – that we have selected the right person to lead QuiqMeds.”
Commenting on his appointment as Chief Executive Officer, Mr. Kane said, “I am extremely excited to be joining the QuiqMeds team at this critical juncture in healthcare. My experience at Pyxis Corporation in helping establish automated medication dispensing technology as the standard of care in the hospital marketplace provides me with a unique insight and knowledge base from which to expand the QuiqMeds model. There is an enormous demand for a technology that can streamline pharmaceutical distribution, medication dispensing, and information management outside the hospital environment. The QuiqMeds Solution not only accomplishes this, but does so while improving patient outcomes, reducing costs, and improving patient satisfaction. As the increasing demands of managed care continue to put pressure on physicians and care delivery systems, there is a rare opportunity to establish a new standard of care. I am joining the QuiqMeds organization because I believe that they will become this new industry standard.”
Mr. Kane brings over three decades of experience in the healthcare industry to QuiqMeds. His background includes extraordinary achievements in sales and marketing, operational management, product development and commercialization strategy implementation, as well as successfully raising capital from both the public and private sectors to fund product launches and broader growth initiatives.
Prior to QuiqMeds, Mr. Kane served as President and Chief Executive Officer of Patient Safety Technologies, Inc., a publicly traded medical device company. Earlier in his career, Mr Kane was President and Chief Executive Officer of Protalex, Inc., a publicly traded drug development company, and held executive level sales and marketing positions for Aspect Medical Systems, Pyxis Corporation, Eli Lilly and Company, and Becton, Dickinson & Company. While at Aspect, as VP of Sales and Field Operations, he was instrumental in growing the company’s sales from under $1 million to a run rate of $48 million in two and a half years, resulting in an initial public offering (IPO) in January 2000 that ultimately led to its market capitalization reaching in excess of $1 billion. At Pyxis, he helped position the company for an IPO in 1992 and held increasingly important sales and marketing positions until it was acquired by Cardinal Health Inc. for nearly $1 billion.
About QuiqMeds:
QuiqMeds, a wholly-owned subsidiary of privately held Quiq, Inc., is a leading provider of point-of-care prescription fulfillment technologies and solutions. Founded in 2004 and headquartered in Blue Bell, PA, QuiqMeds has developed a proprietary, turn-key system to fill prescriptions in the medical practitioner office that is simple, quick and easy for medical professional and staff to administer.
The practice of prescribing and fulfilling prescriptions by physicians in their offices is supported by numerous national organizations including the American Medical Association, the American Academy of Pediatrics and the Federal Trade Commission, which claims that it “increases service and price competition among practitioners and between practitioners and pharmacists, to the benefit of consumers”.
The QuiqMeds System is designed to handle inventory control, tracking, reordering and stocking of the most commonly prescribed pharmaceuticals at the point-of-care – in the doctor’s office. While automatically tracking all of the information required by state and federal laws, patients will appreciate the convenience, cost and quality assurance of getting their medications directly from their own doctor. QuiqMeds controls the unit-of-dispense package and labeling as well as keeping electronic logs of all transactions. Medical practitioners enhance their practice by ensuring patients receive their medication to immediately begin therapy.
Additional information about QuiqMeds is available on the Internet at www.quiqmeds.com.