CareTechNews

CareTech Solutions wins Detroit Regional Chamber Future 50 award

IT and HIM outsourcing provider honored for economic and community impact in Southeast Michigan

Troy, Mich. — August 17, 2004 — CareTech Solutions, an information technology (IT) and Health Information Management (HIM) outsourcing provider for hospitals and health systems, announced today that is has been selected as a winner in the eleventh annual Future 50 of Greater Detroit competition.

The award recognizes successful emerging companies across the Detroit Region. Each company is selected based on revenue and impact on Southeast Michigan’s economy through growth in employment, investments and community enhancement.

“We are honored to be counted as one of metro Detroit’s most successful and growing companies,” said James Giordano, president and chief executive officer for CareTech Solutions. “CareTech’s ability to be counted among the Future 50 of Greater Detroit can be attributed to the commitment and contributions our 700+ employees make every day to improving patient care while lowering healthcare costs for our client hospitals.”

Among the core criteria for the award, CareTech reported an annual average growth rate of 32 percent, which the company has achieved through the development of service offerings for virtually every facet of healthcare IT management, from implementation of emerging technologies to supporting day-to-day IT operations, including distinct offerings such as structured cabling services and Health Information Management (HIM) consultation and outsourcing services. CareTech attributed growth to the expansion of its initial Michigan client base to national reach, across urban, suburban and rural healthcare markets, from small hospitals to large integrated health systems in both academic and non-academic environments.

Criteria for local economic impact was met through detail on CareTech’s growing workforce, currently at over 700 professionals, and expectations for sustained growth over the next five years, which is expected to create significant job opportunities for area IT workers. Additionally, a large percentage of CareTech’s operations are consolidated in Southeast Michigan, which drives additional economic impact for the region. CareTech currently provides comprehensive outsourcing solutions to multiple Michigan hospitals and health systems and their affiliated outpatient centers.

Future 50 of Greater Detroit is awarded by the Detroit Regional Chamber in conjunction with BDO Seidman LLP, Smith Barney, Citigroup Global Markets Inc., and WWJ Newsradio 950. Winners will be announced by Murray Feldman on WWJ Newsradio 950, listed in the Detroiter, the Detroit Regional Chamber’s monthly magazine and will be recognized at the annual fall luncheon on October 1, 2004 at the Troy Marriott.

About CareTech Solutions, Inc.
CareTech Solutions Inc., an information technology (IT) and health information management (HIM) outsourcing provider for hospitals and health systems, is committed to creating value for healthcare clients through customized, flexible information technology outsourcing solutions that contribute to improving patient care while lowering healthcare costs. Based in Troy, Mich., CareTech Solutions offers clients expert services in virtually every facet of information technology from implementing emerging technologies to supporting day-to-day IT operations for hospitals nationally. For more information please visit: www.caretechsolutions.com.

CONTACT:

Kate Kilponen
Airfoil Public Relations, Inc.
(313) 887-7212
sangsland@airfoilpr.com

Jody Meehan
CareTech Solutions, Inc.
(248) 233-3080
jody.meehan@caretechsolutions.com