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Monday, April 21, 2008
MEDecision gets new president

Tim Wallace today was named interim president and chief operating officer of MEDecision Inc., a Wayne company that provide health-care management technology for insurers.

Wallace, 50, has been a board member of MEDecision for more than six years. Until he stepped down in early January, he had been the CEO of FullTilt Solutions Inc., a business software developer also based in Wayne, since April 2000. Wallace remains chairman of FullTilt.

MEDecision lost $6 million, or 39 cents per share, on revenues of $44.8 million in 2007. Founder David St. Clair remains CEO of the company. It employed 249 people as of Dec. 31.

MEDecision went public in December 2006 at $10 per share. Its shares closed at $1.80 on Friday. It looks as if its share did not trade today.

John Capobianco, MEDecision’s previous president and chief operating officer, resigned last August. At the time, the company said it would launch a search for his replacement and that St. Clair would assume Capbianco's duties.

Posted by Mike Armstrong @ 3:24 PM  Permalink | Post a comment
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About Mike Armstrong
Mike Armstrong, a business editor and writer for nearly two decades, is the Inquirer's business columnist and PhillyInc blog editor.
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