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BERKELEY HEIGHTS, N.J., Aug. 23, 2013 (GLOBE NEWSWIRE) --
Authentidate Holding Corp. (Nasdaq:ADAT)
, a provider of secure web-based software applications and telehealth products and services for healthcare organizations, announced today that it has retained Hayden IR as its investor relations firm to communicate the company's strategic goals and business developments, in an effort to enhance shareholder value.
Ben Benjamin, Chief Executive Officer of Authentidate, stated, "Authentidate has retained Hayden IR as our investor relations firm because we believe they have significant experience supporting the investor relations needs of companies like ours. We believe that Hayden IR can help Authentidate reach the marketplace with a clear and consistent value proposition for investors and business prospects alike. We are continuing to make solid progress with our business and remain focused on providing products and services that are designed to help healthcare organizations reduce costs and improve patient care. We believe that Hayden IR will help us realize greater overall value for our shareholders."
Brett Maas, Managing Partner of Hayden IR, added, "We believe Authentidate represents a compelling opportunity as it addresses a multi-billion dollar annual market that is growing as healthcare costs continue to increase each year. Their business model is characterized by recurring revenues with software company margin targets. The company offers innovative products and services, including its telehealth, hospital discharge and referral management solutions, that position the company for growth from each of these product lines as regulatory reforms and healthcare industry trends take hold. Authentidate is also one of the Department of Veterans Affairs contracted vendors for the VA's home telehealth program. We believe revenues from that contract have the potential to grow significantly while the commercial market continues to adopt telehealth as a cost-effective approach to manage patient care. All of us at Hayden IR look forward to working with Authentidate and getting its message out to the professional investment community."