|TERREN PEIZER: Hythiam CEO Responds to Critical ATIN Report|
-ATIN- -07/01/08 - Responding to a critical Addiction Treatment Industry Newswire (ATIN) report about a spate of layoffs and profligate, wasteful spending at the addiction disease management company Hythiam, Inc., CEO and founder Terren Peizer said the story was chock full of errors and displayed a lack of understanding on the part of ATIN about the nature of Hythiam's business.
Readers can read the above mentioned ATIN report on TreatmentMagazine.com: http://www.treatmentmagazine.com/component/content/article/7-newswires/99-hythiam-svp-lamacchia-latest-in-long-string-of-company-layoffs.html
Telephoning Treatment Magazine Publisher Ted Jackson, Peizer said that he and other top Hythiam executives had over the years routinely held up Treatment Magazine articlesÂ as examples of thoughtful, trend spotting addiction treatment industry journalism, and not just the magazine's articles about Hythiam, but also articles about a wide variety of addcitionÂ industry issues and topics.
Peizer said he did not believe the recent ATIN Hythiam report livedÂ up to those high standards.
Despite repeated pressing by publisher Jackson, Peizer mentioned only one concrete example of an error arising out of the ATIN report - that PeizerÂ had at one point held as many as 75 percent of Hythiam shares and that Peizer had been the recepient of a $1 million annualÂ compensation package.Â Upon reexamination, Treatment Magazine found that Peizer had been a holder in 2006 ofÂ just 55.6 percent of company shares, but that his annual compensation was in 2006 valued as high as almost $1.3 million. Peizer said several times that the ATIN report contained four errors, but repeatedly refused to identify the other three.
ATIN stands by its report, andÂ offered to publish a verbatum Hythiam rebuttal to the ATIN article, an offer which Peizer seemed initially to accept. But Peizer later reversed himself and said that heÂ "didn't know" if HythiamÂ would accept the offer of a rebuttal on ATIN.
Addiction Drug Rehab Alcoholism