INDUSTRY NEWS



TMCNet:  Generex Biotechnology Announces the Appointment of Chief Commercial Officer

[March 12, 2019]

Generex Biotechnology Announces the Appointment of Chief Commercial Officer

Lance Goudzwaard Appointed to Head Commercialization and Customer Relations for NuGenerex Distribution Solutions Subsidiary

MIRAMAR, FL, March 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Generex Biotechnology Corporation (www.generex.com) (OTCQB: GNBT) (http://www.otcmarkets.com/stock/GNBT/quote), is proud to announce the appointment of Lance Goudzwaard as the Chief Commercial Officer for NuGenerex Distribution Solutions (NDS), the company’s wholly-owned subsidiary. Mr. Goudzwaard will be responsible for the delivery and operation of the management services organization (MSO) platform that is currently operational in five states, with an aggressive growth strategy designed to expand the model to 27 states in the next several months. Mr. Goudzwaard will also focus on building and developing our durable medical equipment (DME) service offering called DME-IQÔ, a software system being introduced to the orthopedic market with turnkey services to support the development and management of compliant and profitable in-office DME programs. The NDS DME-IQ program includes vendor negotiations to decrease cost of goods (COGs), oversight of coding during the billing process, management of the appeals process using patient focused support personnel to improve insurance collections, and technology enabled systems that ensure compliance with state and federal regulations.

“We are extremely proud to have Lance, a highly regarded thought leader in the field of practice management, joining our team,” said Terry Thompson, COO of Generex and President of NuGenerex Distribution Solutions. “In his role, Lance will work with the NuGenerex family of companies to expand the company’s portfolio of ancillary health services while advancing the corporate mission to provide end-to-end solutions for physicians and patients, leading our client services team, MSO operations, and new product introductions. His vast experience and extensive network will truly enhance the strength of the NDS operation.”

Mr. Goudzwaard has built a 25+ year career in healthcare as a senior executive implementing operatioal strategies that result in high impact sales, new business development, and organizational profitability.  A nationally recognized speaker, author and thought leader in his field, Mr. Goudzwaard is one of less than a thousand fellows in the American College of Medical Practice Executives. As principle consultant for HealthConnectors, he has led multi-level project teams in the portfolio expansion of ancillary services. His expertise has been sought as an advisory board member for multiple mid-range healthcare organizations.  On the national level, Mr. Goudzwaard has served as President and Chairman of the Western Region for the Medical Group Management Association (MGMA).

Prior to joining NuGenerex, Mr. Goudzwaard served as an executive in a variety of healthcare settings including hospital, employed physician-based practices, and private practices. His breadth of operational and financial experience spans several roles including Chief Operating Officer (COO) of a large specialty orthopedic and spine conglomerate and Chief Executive Officer (CEO) of a gastroenterology practice that had 17 locations, 5 Ambulatory Surgery Centers along with an Anesthesia and Pathology practice, giving him an extensive background to lead the MSO operations for NuGenerex.

Mr. Goudzwaard holds an undergraduate degree from the University of Wyoming and a Master of Science in Health Administration from the University of Colorado.

“Growth and diversification are key to success within the healthcare landscape,” said Mr. Goudzwaard. “I welcome the opportunity to build NuGenerex into a new kind of healthcare company that enhances the physician patient experience with a range of ancillary healthcare services that offer new business opportunities for physician practices to improve outcomes through patient-centric care.”

About Generex Biotechnology Corp.

Generex Biotechnology is an integrated healthcare holding company with end-to-end solutions for patient-centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in an MSO network, and ongoing relationships with patients to improve the patient experience and access to optimal care.

In addition to advancing a legacy portfolio of immune-oncology assets, medical devices, and diagnostics, the Company is focused on an acquisition strategy of strategic businesses that complement existing assets and provide immediate sources of revenue and working capital. Recent acquisitions include a management services organization, a network of pharmacies, clinical laboratory, and medical device companies with new and approved products.

Our newly formed, wholly-owned subsidiary, NuGenerex Distribution Solutions (NDS), integrates our MSO network with a pharmacy network, clinical diagnostic lab, durable medical equipment company (DME-IQ) and dedicated call center.

Cautionary Note Regarding Forward-Looking Statements

This release and oral statements made from time to time by Generex representatives in respect to the same subject matter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plan," "believes," "will," "achieve," "anticipate," "would," "should," "subject to" or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not known. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.  Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.

Generex Contact:
Generex Biotechnology Corporation
Joseph Moscato
646-599-6222

Todd Falls
1-800-391-6755 Extension 222
investor@generex.com

Generex Biotechnology Corp..jpg


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