PartsSource Announces Appointment of Philip Settimi, MD as President & CEO

AURORA, OHIO – February 24, 2014 (HIMSS14 in Booth #356) PartsSource, Inc. a provider of cloud-based software solutions for hospitals and healthcare companies, today announced that Philip Settimi, M.D. will assume the position of President & CEO. Dr. Settimi brings to PartsSource an extensive background of success and achievement in the medical device and healthcare IT industries. Most recently, Phil served on the executive management team of Hill-Rom as Chief Marketing Officer where he was responsible for customer engagement, global product management, corporate strategy and business development. Prior to Hill-Rom, Dr. Settimi led the Medical Device Strategic Business Unit at Hospira and served as General Manager and Business leader at GE Healthcare IT. Throughout his career Phil has worked with leading Academic, Integrated-Delivery Networks and Community-based hospital customers to deliver technology-enabled products and services that improve the safety, operational efficiency and clinical efficacy of those organizations.

A. Ray Dalton will be moving to the role of Executive Chairman and continue as Chairman of the Board. After 13 years at the helm, Dalton said that he is eager to spend more time with his family and focus on humanitarian projects with the Dalton Foundation. He will also remain an active investor in early stage healthcare opportunities. The latest addition to PartsSource galvanizes an executive management team that is geared towards delivering high-growth healthcare software and service solutions.

Phil is the right addition at the right time to our executive team, said Executive Chairman, A. Ray Dalton who will transition over the next several months. We believe his educational and technical background combined with his professional experience best positions him to lead our company to the next level of growth.

Serving over 3,000 US hospitals today, PartsSource is the industry leader for managing the supply chain of medical device repair parts, said Settimi. The need for cost management and workflow solutions in healthcare has never been higher and I am thrilled to lead an organization that delivers value every day to Providers, Multi-Vendor Service Organizations and medical device Original Equipment Manufacturers (OEMs).

As a healthcare technology company, PartsSource delivers cloud-based software and business intelligence tools to leading Provider institutions such as Catholic Healthcare Initiatives, Community Health Systems, and the Cleveland Clinic Health System, while also delivering valuable e-commerce and managed services capabilities to leading suppliers and OEMs such as Siemens Healthcare.

PartsSource will be exhibiting this week at the Healthcare Information and Management Systems Society 2014 Annual Conference & Exhibition (HIMSS14) where it will be conducting demos of its purchasing and cost-management solutions for hospitals and health systems to better manage spend, improve equipment uptime and maximize the efficiency of clinical engineering departments. To learn more about PartsSource, visit the company at HIMSS14 in Booth #356, February 23-27 in Orlando, FL, or on the web at www.partssource.com.

About PartsSource

PartsSource provides the medical equipment service industry with proprietary software solutions related to the acquisition and life cycle management of medical repair parts. The company has been recognized by clinical engineers and healthcare executives alike for its unique ePartsFinder application for its ability to increase department efficiencies while reducing costs through its award-winning SmartPrice technology. Founded in 2001, PartsSource continues to be the recipient of numerous local, regional and national awards for growth, customer satisfaction, and community service