Healthcare Corporation Of America Names Natasha Giordano CEO - Quick Facts

(RTTNews) - Healthcare Corporation of America (HCCAE.PK) announced Friday that it has appointed Natasha Giordano to succeed Gary Sekulski as Chief Executive Officer, effective today. Giordano was also elected a Director of the Board of Directors.

In addition, the company announced the appointment of Yaron Eitan, as its new Chairman of the Board of Directors, succeeding Gary Sekulski. Sekulski will continue to assist the Company with its business development activities.

Giordano has over 20 years of experience in various leadership positions in the healthcare industry. Giordano served as the Chief Executive Officer, President and Director of Xanodyne Pharmaceuticals, Inc., a branded specialty pharmaceutical company with development and commercial capabilities focused on pain management, from May 2010 to August 2012 and Chief Operating Officer since 2009. Prior to that, she served as President, Americas, for Cegedim Dendrite (formerly Dendrite International Inc.) from 2007 to 2008 and as Senior Vice President of the Global Customer Business Unit of Cegedim Dendrite from 2004 to 2007.

Eitan was the President, Chief Executive Officer and a director of Selway Capital Acquisition Corporation from inception until April 10, 2013, when it acquired Healthcare Corporation of America. Eitan is a partner of Columbus Nova Technology Partners, and he is also the founder and managing partner of Selway Capital. Prior to launching Selway, Eitan ran several companies, including Reshef Technologies, Patlex, and Geotek Communications. He currently serves as Chairman of a number of companies including DVTel, Magnolia Broadband, and Software Technology, Inc.

In a separate press release, Healthcare Corporation of America announced the closing of $2.61 million in new financing.

The company issued two-year junior secured notes in the aggregate principal amount of $2.11 million, bearing interest at 10.0% per annum and warrants to purchase 1.41 million shares of the company's common stock at an exercise price of $3.00 per share. The junior notes are convertible at a price of $1.50 per share.

In addition, the company entered into a Forbearance, Waiver and Modification Agreement with Partners For Growth III, L.P. or "PFG", pursuant to which certain terms of the loan were modified and PFG loaned an additional $500,000 to the Company.

The company noted that it now expects to file its Transition Report on Form 10-K form for June 30, 2013, with the SEC on or about January 31, 2014, and file its Quarterly Report on Form 10-Q for the quarter ended September 30, 201,3 on or prior to February 15, 2014.