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Experienced Financial Executive, Peter Donato, Joins Hythiam as CFO

^{Published on 2010-08-27 05:16:49 - Market Wire}
 

LOS ANGELES--([ BUSINESS WIRE ])--Hythiam, Inc. (OTCBB:HYTM) announced today that financial executive Peter Donato has joined the Company as Chief Financial Officer replacing the Companya™s interim principal financial and accounting officer. Mr. Donato brings nearly 20 years of professional experience to the Company.

"His addition will allow us to better manage the increasing operational demands from current contracts and additional anticipated future contracts."

Prior to joining Hythiam, Mr. Donato was Chief Financial Officer at IRIS International, a publicly traded medical diagnostics company and before that was Chief Financial Officer at a medical imaging company. Over Mr. Donatoa™s career, which includes stints at Ernst & Young, Accellent, General Motors, Honda and Scotts-Miracle Gro, he was responsible for re-building and managing finance and accounting departments, managing all aspects of SEC reporting and SOX 404 compliance, running IT departments, and performing complex financial analysis to enhance operational efficiency, and improve revenue and cost savings.

aI am pleased to be joining Hythiam, and view this as a significant opportunity to make a difference in the healthcare industry,a said Peter Donato, Hythiama™s new Chief Financial Officer. aI believe that Hythiam is well positioned strategically with its Catasys offering to managed care plans and other payors, and that the Company is poised to benefit from healthcare reform.a

aWe look forward to Mr. Donato joining the Company, and with 20 years of business experience across multiple industries, he will strengthen our finance group and be a significant contributor to our executive staff,a said Rick Anderson, President and COO of Hythiam, Inc. aHis addition will allow us to better manage the increasing operational demands from current contracts and additional anticipated future contracts.a

About Hythiam^®

Hythiam, Inc. provides through its Catasys subsidiary, specialized behavioral health management services to health plans, employers and unions through a network of licensed and company managed health care providers. The Catasys substance dependence program was designed to address substance dependence as a chronic disease. The program seeks to lower costs and improve member health through the delivery of integrated medical and psychosocial interventions in combination with long term care coaching, including their proprietary treatment program for alcoholism and stimulant dependence. Hythiam does not practice medicine or manufacture, distribute, or sell any medications and has no relationship with any manufacturers or distributors of medications used in the program. For further information, please visit [ www.hythiam.com ].

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history and lack of statistically significant formal research studies, the risk that treatment protocols might not be effective, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and substantial regulation in the healthcare industry; and additional risks factors as discussed in the reports filed by the company with the Securities and Exchange Commission, which are available on its website at [ http://www.sec.gov ].