Craig Froude Named CEO of CarePayment Technologies, Inc.

PORTLAND, Ore. – May 29, 2012 – Long-time healthcare and technology executive Craig Froude has been named President and CEO of CarePayment Technologies, Inc., the public company that delivers an innovative patient loyalty and payment program that partners with hospitals and other healthcare providers to provide their patients with more flexibility to cover their out-of-pocket medical expenses.

Froude will be responsible for expanding and developing CarePayment partnerships with leading healthcare providers nationwide that need new solutions to help address the rapidly growing burden of patient receivables. Due to higher deductibles and co-pays, the patient-responsible portion of healthcare expenses has nearly tripled since 2000. CarePayment was formed in 2004 and is operational at more than 50 healthcare facilities across the U.S., bringing financial relief to more than 750,000 patients who faced significant out-of-pocket medical expenses.

“CarePayment is a revolutionary solution that is positioned for rapid growth as healthcare providers search for ways to improve patient satisfaction and financial performance while fully complying with today’s complex financial regulations,” said Froude. “We expect CarePayment to serve millions more patients in the years ahead, as we introduce the program to more healthcare providers, further strengthen our product portfolio, and pursue technologies and systems that make it even easier for healthcare partners and patients.&rdquo

Froude was founder and CEO of Portland-based WellMed, Inc., a market-leading company that created technology-enabled health management programs and benefit decision support solutions to large employers and health insurers. He raised more than $25 million of venture and strategic partner capital to fuel growth at WellMed, which later was honored as one of the Inc. Magazine “500 Fastest Growing Companies&rdquo nationwide. After the company was sold to WebMD in 2002, Mr. Froude ran WebMD Health Services, which achieved a 42 percent annualized growth rate with revenues reaching $95 million and a staff of more than 450.

Earlier in his career, Mr. Froude held senior sales and marketing positions with Creative Multimedia, and with Central Point Software which was acquired by Symantec. He has a degree in finance from Oregon State University, where he serves as an advisor to the OSU Austin Entrepreneurship Program. He sits on the Board of Directors of Portland, Ore.-based Pulse Health, LLC, a developer of biomarker measurement systems and 4-Tell, a provider of a SaaS personalized product recommendation solution, which works for websites, email, social media and mobile commerce to drive ecommerce revenue.

In addition to serving as President and CEO of CarePayment Technologies, Inc., Froude was named President of Aequitas Consumer Services and became a partner in Aequitas Management, LLC, the alternative investment company that created and finances the CarePayment program. Froude will lead the development and expansion of revolutionary revenue cycle management systems for institutions that support patients, students and other underserved consumer segments.