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Medical equipment industry

OCG Technology Appoints Erich W. Augustin to Board of Directors and Management Team

Strategic Insights

— 1 min read

Erich W. Augustin, a seasoned finance executive, has joined OCG Technology, Inc.'s Board of Directors and has been appointed as the company's Treasurer and Chief Financial Officer. Before joining OCGT, Mr. Augustin held various senior roles at the Chase Manhattan Bank of Connecticut, N.A., and the Chase Manhattan Corporation. His extensive experience in financial management will be pivotal in OCGT's future expansion plans. President Levine expressed his confidence in Mr. Augustin's ability to contribute to the company's growth, stating that further additions to the management team will follow. OCGT's innovative products, including the PrimeCare System, aim to enhance patient care while reducing healthcare costs, marking a significant shift in the medical industry.

Key Takeaways:

  • Erich W. Augustin, a veteran finance executive, has joined OCG Technology, Inc.'s Board of Directors and has been appointed as the company's Treasurer and Chief Financial Officer.
  • Mr. Augustin brings 20 years of experience in financial management, including 7 years as Senior Vice President and Chief Financial Officer of the Chase Manhattan Bank of Connecticut, N.A.
  • Prior to joining OCGT, Mr. Augustin served as a consultant to the Chase Manhattan Bank of Connecticut, N.A. from January 1995 through June 1995.
  • Mr. Augustin's background in financial accounting and reporting will be crucial in OCGT's future expansion plans, as stated by President Levine.
  • OCGT's products, particularly the PrimeCare System, utilize patient-computer interactive technology to improve quality of care while reducing healthcare costs.
  • The PrimeCare System automates patient record production, cross-checks for drug interactions, provides on-line access to expert physician reference information, and maintains education data for patients.

Statistics:

  • Health care costs reduction through PrimeCare System: not specifically quantified
  • Patient-computer interactive system development: not specified
  • Number of patients treated with PrimeCare System: not provided
  • Number of healthcare providers utilizing OCGT's medical billing software: not quantified
  • Period of Erich W. Augustin's service at Chase Manhattan Bank of Connecticut, N.A.: August 1991 through December 1994
  • Period of Erich W. Augustin's service as consultant to Chase Manhattan Bank of Connecticut, N.A.: January 1995 through June 1995

Sources:

  • OCG Technology, Inc. press release, October 18, 1995, as reported by PR Newswire.
  • OCG Technology, Inc. (Nasdaq: OCGT) company information.

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