MYnd Analytics Appoints Senior Industry Executive Patrick Herguth as Chief Executive Officer and Board Member; George Carpenter Assumes New Role as Chief Innovation Officer
MISSION VIEJO, Calif., Dec. 12, 2018 (GLOBE NEWSWIRE) -- MYnd Analytics, Inc. (NASDAQ: MYND), a predictive analytics company aimed at improving the delivery of mental health through the combination of telemedicine and data analytics, today announced that Patrick Herguth will be joining the team as Chief Executive Officer and has also been appointed to the Board of Directors. George Carpenter will assume the new role of Chief Innovation Officer.
Prior to joining MYnd Analytics, Mr. Herguth served as Chief Operating Officer of Q-Centrix, a technology and services provider to healthcare systems. Under his tenure the business experienced notable growth as it evolved from a pure services business, with a 700+ clinical staff, to a technology-enabled solutions provider. From 2007 to 2015, Mr. Herguth held various roles with Avidyne Corporation, including Chief Operating Officer, Chief Financial Officer and President, where he helped oversee process and efficiency improvements. From 2005 to 2007, he served as Vice President and General Manager of the medical business unit at Planar Systems, where he helped drive operating margin improvement. He also held executive positions at General Electric Medical Systems and the health imaging division of Eastman Kodak. Mr. Herguth earned an MBA from the Kellogg Graduate School of Management at Northwestern University and a B.S. in Applied & Engineering Physics from the College of Engineering at Cornell University.
Robin Smith, Chairman of MYnd, stated, “Patrick brings more than 24 years of experience across the healthcare and technology sectors, with strong industry relations and a proven track record of success leading and managing high-growth businesses. Given the traction we are gaining within the market, including both our PEER Report and Arcadian’s telemedicine offering, this is the perfect time to bring an executive of Patrick’s caliber to help integrate the business offering, further develop the network, scale for accelerated growth and drive revenues. This change will also allow George Carpenter to increase his focus on the technology in his new role as Chief Innovation Officer, in order to drive a number of key initiatives and upcoming milestones.”
Patrick Herguth, MYnd’s newly appointed CEO, commented, “I am excited to join MYnd at this stage in the Company’s development. We are well-positioned both to improve care and lower costs for individuals that are afflicted with behavioral health disorders. By combining PEER with Arcadian’s telemedicine platform, we can become a best-in-class, technology-enabled solutions provider. The combination and integration of these two powerful solutions provides an enormous competitive advantage and compelling value proposition for both customers and patients. Our pilot programs with major payors for PEER and established partnerships with employee assistance programs, healthcare systems and other providers through Arcadian give us two excellent platforms from which to drive growth.”
George Carpenter, newly appointed Chief Innovation Officer, further noted, “We are pleased to welcome Patrick to the senior management team, which provides us greater resources to expand our technology platform and product offering. We are rapidly gaining momentum in the marketplace and look forward to aggressively capitalizing on these opportunities.”
About MYnd Analytics
MYnd Analytics, Inc. (www.myndanalytics.com) is a predictive analytics company that has developed a decision support tool to help physicians reduce trial and error treatment in mental health and provide more personalized care to patients. The Company’s Psychiatric EEG Evaluation Registry, or PEER Online, is a registry and reporting platform that allows medical professionals to exchange treatment outcome data for patients referenced to objective neurophysiology data obtained through a standard electroencephalogram (EEG). Based on the Company’s original physician-developed database, there are now more than 40,000 outcomes for over 11,000 unique patients in the PEER registry. The goal of PEER Online is to provide objective, personalized data to assist physicians in the selection of appropriate medications. To read more about the benefits of this patented technology for patients, physicians and payers, please visit: www.myndanalytics.com.
MYnd also operates its wholly-owned subsidiarity Arcadian Telepsychiatry Services, LLC, which manages a suite of services including telepsychiatry, teletherapy, digital patient screening, curbside consultation, on-demand services, and scheduled encounters for all age groups. Arcadian utilizes patient engagement and re-engagement strategies to move inpatient care to outpatient care and assist patients in readjusting to their life routine and reducing wait times for mental health treatment. Arcadian’s customer base includes major health plans, health systems, and community-based organizations.
Except for the historical information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time. Forward-looking statements speak only as of the date they are made and MYnd assumes no duty to update forward-looking statements. In addition to factors previously disclosed in MYnd’s reports filed with the Securities and Exchange Commission and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements and historical performance: These forward-looking statements involve risks and uncertainties, such as statements regarding traction in the marketplace, integration of business offerings, further development of the network, acceleration of growth, driving of revenue, market developments, new products and growth strategies, the ability of MYnd’s products to successfully produce objective data and improve efficiency in the treatment of depression and other mental health and psychiatric illnesses, to recognize patterns, predict outcomes and personalize medicine, and to improve patient outcomes and reduce healthcare costs and our ability to become best-in-class or expand our technology platform. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein.
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Released December 12, 2018