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HRAA Appoints Two New Independent Members To Board Of Directors

Plantation, FL, Aug. 8, 2013 (GLOBE NEWSWIRE) -- Health Revenue Assurance Holdings Inc. (OTCQB: HRAA) ("HRAA"), a provider of technology and revenue integrity solutions for healthcare organizations, has announced the addition of two new independent members to its Board of Directors. Peter Russo, former CFO of magicJack and Corporate Strategist Michael Brainard will join HRAA's board, effective today. The appointments increase the number of HRAA directors from two to four.

Over the coming quarters, the board will continue to search for additional industry and corporate veterans to serve as directors. Mr. Russo and Mr. Brainard will join Company CEO and Chairman Andrea Clark and Company COO Robert Rubinowitz on the board.

Mr. Russo served as the CFO and Treasurer of magicJack VocalTec Ltd. from July 2010 to May 2013 and also served as its Principal Accounting Officer. Mr. Russo serves on the Advisory Board of Ocho Gaming, LLC. Ocho Gaming is a premiere operator and provider of online gaming in the Latin American market. Mr. Russo, along with his wife, is a co-founder of bracelet retailer FriendlyBands LLC. Mr. Russo also serves as a consultant to ResumeBear, a leading online job search technology company. Prior to his appointment as CFO of magicJack VocalTec Ltd., Mr. Russo served as CFO of YMax since 2005. Prior to joining YMax, from 1996-1999, he was a consultant and served as CFO of Group Long Distance, Inc. (GLD), a publicly traded reseller of local and long distance services. Prior to joining GLD, Mr. Russo was the Executive Vice President of the State Bank of South Australia.  He holds a B.B.A. degree from Pace University in New York.

Mr. Brainard brings over 15 years of experience to the Board as a management consultant, senior executive, executive coach, manager, entrepreneur, and researcher. As a management consultant, Michael has designed and conducted process re-engineering and re-structuring, organizational assessments, leadership development initiatives, performance management systems, change management processes, and a variety of strategic planning initiatives. Additionally Michael has worked as a post-acquisition internal and external integration leader. Mr. Brainard has provided strategy and consulting services to companies such as Scripps, AMN Healthcare, AccentCare, Memorialcare, and Patient Safe Solutions. He holds a B.A. in Psychology from the University of Delaware, an M.S. in Industrial Psychology from Alliant International University and a Ph.D. in Industrial Psychology from Alliant International University.

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