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Internet Capital Group Elects Peter Miller to Its Board of Directors

^{Published on 2010-06-21 08:05:29 - Market Wire}
 

WAYNE, Pa.--([ BUSINESS WIRE ])--Internet Capital Group, Inc. (Nasdaq: ICGE) today announced the election of Peter Miller, former President and Chief Executive Office of Take Care Health Systems, to its Board of Directors. Mr. Miller fills a vacancy on the ICG board, bringing the total number of board members to nine.

"We look forward to the opportunity to benefit from his breadth of experience as an operator, innovator and growth driver accumulated throughout his career at premier corporations."

aI've been impressed by the focus and accomplishments of the ICG team as they successfully acquired and built a number of internet-based market leaders," said Mr. Miller. "My confidence in the management team, the Board, and the long-term potential of the company's key partner companies were compelling factors that attracted me to serving on the ICG Board. I am excited about working with ICG and its partner companies and hope to add real value by leveraging my business experience.a

Peter Miller, the former President and Chief Executive Officer of Take Care Health Systems, a business Mr. Miller co-founded and which was sold to Walgreens, has recently been appointed the new Chief Executive Officer of OptiNose, a drug delivery technology company backed by Avista Capital Partners. Mr. Miller will also serve on the OptiNose Board of Directors.

aAs we continue to focus on driving success and profitability at ICG and our key partner companies, Petera™s vast operating experience and business acumen will help us achieve our goals,a said Walter W. Buckley, chairman and CEO of ICG. aWe look forward to the opportunity to benefit from his breadth of experience as an operator, innovator and growth driver accumulated throughout his career at premier corporations.a

As the co-founder, CEO and President of Take Care Health Systems, Mr. Miller conceptualized and helped create an entirely new industry to deliver high quality, accessible and affordable healthcare. He helped secure $90 million in venture capital and private equity funding and secured contracts with 4 out of the 5 top pharmacy retailers. Prior to joining Take Care Health Systems, Mr. Miller spent over a decade at Johnson & Johnson in senior executive positions. Most notably, Mr. Miller was President of Janssen Pharmaceutica, one of J&Ja™s largest operating units, delivering over $3 billion of annual sales. During his tenure Mr. Miller helped the company achieve 20% growth. Mr. Miller holds a masters of business administration from Kellogg School of Management and a bachelor's degree from Trinity College.

Mr. Miller joins the other eight members of the ICG Board of Directors, which include David Berkman, Managing Partner at Liberty Associated Partners, LP; David K. Downes, Chairman of The Quaker Investment Trust and President and CEO of CRA Advisors, Inc.; Walter W. Buckley, Chairman and CEO of ICG; Thomas A. Decker, President and CEO of Cozen Oa™Connor; Thomas P. Gerrity, Professor of Management and former dean of the Wharton School of the University of Pennsylvania; Michael J. Hagan, CEO of LifeShield Security, Warren aPetea Musser, Managing Director at The Musser Group; Philip J. Ringo, Senior Strategic Advisor to Elemica, Inc.

About ICG

ICG (Nasdaq:ICGE) identifies, capitalizes and grows companies in the SaaS/tech-enabled BPO and Internet marketing sectors. These companies transform they way business is done by enabling enterprises to increase efficiencies and improve and automate critical processes. ICG leverages its unique expertise to carefully identify companies based on their potential to become market-changers and market-leaders. ICG is focused on building profitable businesses in these sectors by infusing them with management expertise, strategic and operational guidance, and growth capital.

Safe Harbor Statement under Private Securities Litigation Reform Act of 1995

The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future performance of our partner companies, acquisitions or dispositions of interests in partner companies, the effect of economic conditions generally, capital spending by customers, the development of the e-commerce and information technology markets, and uncertainties detailed in the Companya™s filings with the Securities and Exchange Commission.These and other factors may cause actual results to differ materially from those projected.