Business Services Industry
Bluegate Corp. Names Stephen Sperco as CEO; Founding CEO Manfred Sternberg Shifts to Chief Strategy Officer
Business Wire, April 10, 2007
HOUSTON -- Bluegate Corporation's (OTCBB:BGAT) Board of Directors is pleased to announce the following changes of their executive officers, effective immediately:
(1) Bluegate's Founder, Chairman of the Board and current CEO Manfred Sternberg will hand-off his role as CEO to move into the new role of Chief Strategy Officer. He will continue as Chairman of the Board and, through his many public speaking engagements, will continue to be Bluegate's spokesman;
(2) Stephen Sperco, who joined Bluegate in January as Chief Operating Officer, has been appointed as Bluegate's new Chief Executive Officer; and
(3) William Koehler will continue in his current role of President and will resume the duties of Chief Operating Officer.
"We began contemplating these changes some time ago based upon the record revenue growth that the Company has been experiencing," Mr. Sternberg stated. "Due to the recent Stark Law changes affecting the health care industry, this is a crucial time in our Company's history, and holds the potential for dramatic growth. Steve has a long track record of successfully leading and growing IT consulting firms and will be a valuable asset to Bluegate during our current growth phase and beyond. We believe that these executive changes provide the management structure that well positions Bluegate to offer all companies the IT network infrastructure, security and support that will enable the secure exchange, use and storage of their electronic records."
Mr. Sperco stated, "I appreciate the opportunity to guide Bluegate to the next level. I am confident that Bluegate management's strategic plan is beginning to produce favorable results. I'm pleased to lead the team as we leverage the existing favorable business climate to accelerate Bluegate's expansion and growth. We expect to continue executing this plan, including further reducing costs, in our attempt to achieve break-even cash flow before the end of 2007."
Mr. Koehler stated, "The new distribution of responsibilities plays to each of our individual abilities and strengths. We feel it better positions us to promote Bluegate's success as a leader in providing the network infrastructure, IT security and professional services for the healthcare industry and other industries."
Mr. Koehler noted, "Based upon our preliminary revenue results for the first quarter of 2007, we are on course to exceed the Company's record revenue growth achieved in 2006."
Mr. Sperco is the founder and president of Sperco Associates, Inc. and Sperco Technology Group, L.L.C., both privately held telecommunications and IT consulting firms providing independent, third party consulting, planning, and facilities management services. Mr. Sperco is responsible for both the executive management of the consulting firms and the direction of consulting engagements. A consultant since 1975, he has extensive experience with the planning and management of complex engagements. Before founding Sperco Associates, Mr. Sperco was a principal and Regional Vice President for Marketing and Systems Development Corp., a telecommunications consulting firm that was purchased by EDS. Mr. Sperco holds a B.A. in Economics from Middlebury College, Middlebury, Vermont.
About Bluegate Corporation
Through its exclusive Medical Grade Network[R] Bluegate provides hospitals with systems, IT solutions and remote management services specifically designed to increase revenue, decrease operating costs and operate more efficiently while promoting physician integration. It provides IT consulting through its professional services division and HIPAA-compliant, turnkey managed security services and interoperability solutions across its network to healthcare and other industries. Publicly traded Bluegate (OTCBB:BGAT) is a three-time recipient of Houston's Fast Tech 50 Award, honoring the fastest growing Houston-based technology companies. For further information, visit www.bluegate.com or call 713-686-1100.
Safe Harbor
This press release may contain "forward-looking statements." All statements, other than statements of fact, included in this release and without limitation statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.
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