Medsphere Systems Corporation Expands Executive Team, Names Irv Lichtenwald Chief Financial Officer

Industry Veteran Lends Valuable Experience to Leading Open Source EHR Provider

Medsphere Systems Corporation, the leading provider of open source electronic health records (EHR), today announced the appointment of Irv Lichtenwald as chief financial officer and newest member of the executive team. With more than 25 years of experience in finance and information technology, Lichtenwald's appointment demonstrates Medsphere's commitment to supporting innovative, transformative healthcare technologies through strong, financial leadership.

"Medsphere is poised to capitalize on a confluence of events at this juncture," Lichtenwald said. "Not surprisingly, there is already a great deal of interest in Medsphere on the part of investment firms around the country. I look forward to working with the company and its current and future investors to maximize growth. I'm extremely pleased to join a management team that has prepared well for the current opportunities to both build the business and make a significant difference in American healthcare."

From 1995 to 2003, Lichtenwald served as chief financial officer for Advent Software, a leading provider of investment management software. During his tenure, Lichtenwald led Advent through three public stock offerings that raised more than $270 million in capital for the company.

"Irv's experience and track record make him qualified to be the CFO for any company looking to grow dramatically," said Michael J. Doyle, president and CEO of Medsphere. "His decision to join the management team we have in place demonstrates that Medsphere is building tremendous value and is positioned to clinically transform the healthcare system. As Medsphere is currently in the market to raise additional funds, this is an addition to our executive team the investment community should notice."

Lichtenwald joins the Medsphere team at a time when the country is focusing more and more on health technology as a solution to challenges in the U.S. healthcare system. More than $19 billion in stimulus funds will be available to physicians and hospitals for health IT adoption as part of the American Recovery and Reinvestment Act (ARRA). Also, Senator Jay Rockefeller (D-WV) recently introduced the Health Information Technology Public Utility Act of 2009, requiring that open source electronic health records solutions are made available to all healthcare providers at little or no cost.

About Medsphere and OpenVista