Model N Adds Senior Leadership and Expands Executive Team as Sales Soar

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Record Life Science Sales and Addition of Several New Marquee Customers in High Tech Pave the Way for Accelerating Corporate Growth

Clearly Revenue Management is emerging as a strategic application in High Tech and I am excited to lead the team as we continue to expand our customer base and bring exciting new applications that can deliver strategic impact to margin and corporate compliance into the market.

Model N, Inc. the leader in Revenue Management solutions, today announced that on the heels of record quarterly growth, the company has expanded the executive management team with several strategic, senior-level hires in its Product Development, and High Tech organizations. The company has appointed software veterans Richard Fitchen as General Manager of High Tech and Ariel Zach as Vice President of Product Development. Model N has also promoted company co-founder, Ali Tore, to Vice President of Life Sciences Product Management and Rene Larro to Vice President of Core Product Management.

"We are excited that our record sales in Life Sciences and increasing success in our new High Tech vertical have accelerated our growth, and not only created the opportunity to add new world-class leadership with great experience, vision, and deep category knowledge, but also enabled us to promote within the organization," said Zack Rinat, CEO of Model N.

Richard Fitchen, who will serve as the new General Manager of High Tech, has been a key contributor to the growth and development of the Pricing and Revenue Management category. He brings more than fifteen years experience as a software executive to Model N, serving as COO, SCP Worldwide Operations, and Vice President in virtually every aspect of the software business with teams ranging from 10-200 people and P&L responsibility of up to $45 million. Fitchen has held executive positions at Aceva Technologies, Timogen Systems, Peregrine Systems, and Cap Gemini. He holds an MBA from the University of Michigan and a BS in mechanical engineering from the University of California at Berkeley.

"Within one year of entering the High Tech market, Model N has more than doubled sales and added five new customers," said Fitchen. "Clearly Revenue Management is emerging as a strategic application in High Tech and I am excited to lead the team as we continue to expand our customer base and bring exciting new applications that can deliver strategic impact to margin and corporate compliance into the market."

With more than twenty-five years experience in the software industry, Ariel Zach joins Model N from Hyperion Solutions, where he directed all corporate engineering and managed several new R&D initiatives for the company's data integration product line. While at Hyperion he also led the company's largest development effort ever, supervising more than 250 engineers spread over three continents. Prior to Hyperion, Zack served as business unit manager for database development tools at Quest Software, and before that he was product manager for Platinum Technology. He began his career in the Israeli Defense Forces, and holds a BS in mathematics and computer science from Bar-llan University.

"Joining the Model N executive team was an easy decision, based on the strength of its customer base, deep vertical focus, and outstanding financial performance," said Ariel Zach, Vice President of Product Development. "Model N is serving the mission-critical needs of leading companies in Life Sciences and High Tech with one of the most comprehensive suites of applications. They are already well down the path to global development capabilities, and I look forward to expanding these capabilities, as well as continuing to drive the aggressive new product development that has helped Model N rapidly expand in both Life Sciences and High Tech."

Model N has also promoted two senior managers to executive positions. Rene Larro, who joined the company in 2001 as the original product manager in Life Sciences, has become Model N Vice President, Core Product Management, where he is responsible for overall product strategy and identifying new market opportunities that span Model N's verticals. Larro has driven five generations of Model N products and is credited with outstanding work among Model N's Life Sciences customers and is know for his deep industry expertise and commitment to excellence.

Model N co-founder Ali Tore, largely responsible for Model N's entry into the Pharmaceutical regulatory market delivering products that became the company's highest selling applications, was promoted to Vice President, Life Sciences Product Management. In this new role, Ali is responsible for Model N's Life Sciences Revenue Management application suite and for further spearheading Model N's position as category leader in the Revenue Management space. Ali came to Model N from Sun Microsystems where he served as a Senior Engineering and Program Manager, responsible for the NetDynamics Application Server and Platform Adapter Component products.

About Model N
Model N is the leader in Revenue Management solutions, offering an integrated suite of applications for analytics, pricing strategy and execution, contracts, compliance, rebates, fees and charge-backs optimized for the industry practices of Life Sciences and High Tech companies. Enabling the creation of a seamless, end-to-end process from price setting through settlements payment, Model N's uniquely integrated approach eliminates revenue leakage and delivers the visibility and controls needed to avoid the risks of non-compliance to government reporting regulations such as Sarbanes-Oxley and government pricing requirements. Customers include: Boston Scientific Corporation; Bristol-Myers Squibb Company; Cypress Semiconductor Corporation; Intersil Corporation; Linear Technology Corporation; Medtronic, Inc.; Microchip Technology, Inc.; Micron Technology Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; ON Semiconductor, Inc. and Pfizer, Inc. Model N is located in Redwood Shores, California. For additional information visit http://www.modeln.com.

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