CareCentric Announces CEO John Festa Leaving Company

Company refocusing on operations to emphasize customer service

ATLANTA (November 12, 2007)— As part of a plan to refocus the company on operations, software development and infrastructure—with an emphasis on customer service—CareCentric Inc.'s board of directors announced that it has accepted the resignation of company CEO John Festa, effective immediately. CFO Lyle Newkirk is also stepping down, although he will continue in a consulting role until the end of the year.

The board has appointed one of its members, Stewart B. Reed, to act as interim CEO. In addition, Stephen M. Shea, CFO of Mestek Inc., will serve as interim CFO. Both gentlemen are familiar with the company, as Reed has served on its board for more than five years, and Shea has consulted with CareCentric for many years on financial matters, including serving as its CFO when the company was publicly traded.

"The company appreciates Mr. Festa's leadership during the past several years — a time of significant transformation for CareCentric," said Reed. "Mr. Newkirk has also contributed greatly to the company, and all of us at CareCentric wish them well in their endeavors."

He added that the executive management team of Ana McGary, senior vice president of software operations and administration; Ralph Capasso, vice president of sales, marketing and business services; Robert Jones, vice president of IT outsourcing; and David Dasinger, vice president of software development, remain fully engaged and committed to the continued growth and success of the company.

"CareCentric's management team embraces the opportunity to refocus the company's energies on its core competencies in the post-acute care industry, and related software and service businesses," said Reed. "We are enthusiastic about the company's future, and look forward to better meeting the needs of our customers as we go forward."

Headquartered in Atlanta, CareCentric delivers technology, business operation and IT outsourcing solutions to providers serving the entire post-acute care continuum—home health, private duty, hospice, home medical equipment, home pharmacy and long-term care. The company’s offerings include an array of business process, education and consulting services, along with its software packages. By addressing its customers’ total management and operational needs, CareCentric allows them to focus on care delivery—enabling both business and clinical success.