Everest Healthcare Services Corporation
101 North Scoville
Oak Park, IL 60302
(708) 386-2511
At Everest Healthcare At The Financial Relations Board/BSMG Worldwide
Larry D. Damron Norha Lee Kathy Brunson Darcy Bretz
Chief Financial Officer General Inquiries Analyst Inquiries Media Inquiries
708-236-6330 312-640-6689 312-640-6696 312-640-6756
FOR IMMEDIATE RELEASE
THURSDAY, JULY 8, 1999
EVEREST HEALTHCARE APPOINTS NEW CHIEF FINANCIAL OFFICER
OAK PARK, III., July 8, 1999--Everest Healthcare Services Corporation, the
nation's sixth largest provider of dialysis and other blood treatment services,
today announced the appointment of Lawrence D. Damron, 53, to chief financial
officer. Damron's appointment was effective June 28, 1999, and he will report
directly to Craig Moore, chairman and chief executive officer.
Damron joins Everest from Evanston Northwestern Healthcare, where he was the
Senior Vice President, Finance and Treasurer. He was responsible for the finance
and accounting function of this $500 million Integrated Healthcare Delivery
System. Prior to that, Damron, spent 16 years in a number of key management
positions at Baxter International, a $6 billion manufacturer and marketer of
products and services used in hospitals and healthcare settings. From 1992 to
1997, he served as the Corporate Treasurer for Baxter. He also had from 1980 to
1985 served in a number of successively more responsible positions at American
Hospital Supply Corporation, which was acquired by Baxter International in 1985.
From 1975 to 1980 Damron served as a senior accountant for Price Waterhouse. He
earned his MBA degree from Harvard University, his MA in International Relations
from University of Southern California and his BA degree in Economics from the
University of Cincinnati. Damron currently resides in Chicago with his wife
Charlotte.
Moore commented, "I would like to thank John Bourke for his contributions to
Everest over the past years. His experience served Everest extremely well during
our $100 million note exchange offering and during our expansion period. All of
us at Everest are grateful for his efforts and wish him well in his new
endeavors. We are extremely fortunate to have a very capable successor in place.
"Larry will bring to Everest the management expertise to support the
opportunities and challenges that exist for our company in the expanding
dialysis industry. His unique skill set will complement the depth and experience
of our current senior management team. Larry's extensive knowledge of the
medical products industry and his solid industry contacts will be a tremendous
asset to Everest's future growth. I look forward to working with Larry, not only
in capitalizing on a wide range of strategic growth opportunities, but in
continuing to build Everest into a leading provider of chronic dialysis
outpatient services," concluded Moore.
-more-
Everest Healthcare Services Corporation
Add-1
Everest Healthcare Services Corporation is the nation's sixth largest provider
of chronic dialysis outpatient services and serves over 5,700 patients through
62 facilities in 12 states. Everest also contracts with 102 hospitals in 11
states to provide a broad range of other extracorporeal blood treatment services
including inpatient acute dialysis, perfusion, apheresis and auto-transfusion.
Certain statements in this News Release constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Everest Healthcare Services Corporation to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. These factors are discussed in more in the company's
Form S-4 filing with the Securities and Exchange Commission.
For more information regarding Everest Healthcare Services
Corporation, free of charge via fax, simply dial 1-800-PRO-INFO and
enter "EHC9."
-30-