Our solution [can] play an important role in the healthcare industry, where consumers are becoming responsible for higher co-pays and deductibles, which presents new challenges for healthcare providers’ collection efforts.
White Plains, NY (PRWEB) November 18, 2013
Debt Resolve, Inc. (OTC-DRSV), the credit industry’s pioneer of patented Internet technology that provides creditors with one-to-one, online payment, negotiating, and settlement solutions for all types of consumer receivables, announced today that Claremont Ventures LLC, through its sole and Managing Member, Stanley E. Freimuth, has assumed the role of Interim Chief Executive Officer effective November 1, 2013 through at least the end of this year. The agreement between Claremont and Debt Resolve fully envisions and anticipates that Stanley Freimuth will become the full-time Chief Executive Officer in 2014 and beyond. The company also announced the resignation, effective as of September 30, 2013, of Michael J. Cassella, who served as the company’s Chief Executive Officer since June 1, 2012. Mr. Cassella has assisted the company during this transition process.
As Interim Chief Executive Officer, Mr. Freimuth will draw on his long and successful track record in bringing disruptive, technology-based innovative products to market. He is the Managing Member and Founder of Claremont Ventures LLC, a consulting firm that has provided operational guidance, strategic planning, and management services to early-stage growth companies. Recently, Mr. Freimuth served as Chairman, President, and CEO of Presstek Inc., a digital printing equipment manufacturer, which he returned to financial stability and negotiated its sale to a private equity buyer. Prior to Presstek, Mr. Freimuth was Chairman and Executive Director of Tracer Imaging, LLC, a specialty lenticular and 3D printing company, where he led the launch of a unique consumer product line. Until 2007, Mr. Freimuth served as Chief Operating Officer and Chief Administrative Officer of Fujifilm USA, Inc., where he led the transition from analog to digital products in its core businesses and helped the unit reach record revenues.
“Stan Freimuth has the experience, vision, and leadership skills that Debt Resolve needs at this stage in its growth,” said James G. Brakke, Chairman of the Board of Directors. “We brought him on board because he has successfully led companies through similar transitions before.”
Mr. Freimuth added: “I am a long-time Debt Resolve shareholder and I, like many others, have always believed that the company has one of the more innovative technologies I have ever seen. I am looking forward to helping Debt Resolve realize its true potential, which can transform the consumer accounts receivable management industry into a much more efficient and effective Web-based model.”
A Solution for Healthcare Collection Efforts
Mr. Freimuth pointed out that in the wake of healthcare reform, more consumers will be enrolling in health plans with high co-payments and deductibles, and may need help in resolving their outstanding debt with healthcare providers. “I am particularly excited to be joining the company at a point in time when the climate is right for our solution to play an important role in the healthcare industry, where consumers are becoming responsible for significantly higher co-pays and deductibles, which presents new challenges for healthcare providers’ collection efforts,” Mr. Freimuth said. “Debt Resolve has just signed an agreement with a company which provides revenue and cash improvement programs to major healthcare providers across the country and which will offer the Debt Resolve solution as part of its overall medical industry billing and receivables solutions package.”
About Debt Resolve, Inc.
Debt Resolve provides lenders, debt buyers, collection agencies, collection law firms, hospitals, municipalities and many other businesses with consumer credit collection issues with a patent-protected online payment, payment plan and bidding system for the resolution and settlement of consumer debt as well as a collections solution that is effective at every stage of collection and recovery. Debt Resolve solutions are designed to preserve the consumer relationship through a confidential and dignified online process. The company also provides Web-based payment platforms for the financial and healthcare industries. The company is publicly held and trades on the OTC market under the symbol DRSV. Debt Resolve is headquartered in White Plains, New York. For more information, visit http://www.debtresolve.com.
Forward-Looking Statements and Disclaimer
Certain statements in this press release and elsewhere by management of the Company that are neither reported financial results nor other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the Company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of the Company's operations, or the performance or achievements of the Company, or industry results, to differ materially from those expressed or implied by the forward-looking statements. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised, however, to consult any further disclosures made on related subjects in the Company's reports filed with the SEC. To view a copy of the most recent 10-K, visit http://finance.yahoo.com/q?s=DRSV&ql=0