USMD Holdings, Inc. announced audited consolidated earnings results for the year ended December 31, 2012. For the year, the company reported net operating revenue of $105,702,000 against $48,876,000 a year ago. Income from operations was $12,216,000 against $18,795,000 a year ago. Net income attributable to USMD Holdings, Inc. was $2,100,000 or $0.37 per diluted share against $2,658,000 or $0.74 per diluted share a year ago. Net cash provided by operating activities was $5,992,000 against $18,109,000 a year ago. Capital expenditures were $1,311,000 against $395,000 a year ago.

USMD Holdings, Inc. announced two personnel changes among its senior management team. Effective December 10, 2012, Mr. Gary Rudin was appointed to serve as President and Chief Operating Officer of Holdings. Mr. Rudin has served as a director of Holdings and as a member of its Audit Committee since February 1, 2012. Prior to working with Holdings, Mr. Rudin worked for more than thirty years for Electronic Data Systems (‘EDS’). During his career at EDS, Mr. Rudin served as a Senior Corporate Vice-President, managed the company’s Health Care, Government, and Energy service lines, and served on the company’s Global Operations Council, which oversaw its global operations. Mr. Rudin also served as Chief Information Officer for EDS. Also effective December 10, 2012, Ms. Karen Kennedy, formerly the Chief Operating Officer, was appointed to serve as the Chief Development Officer of Holdings. As Chief Development Officer, Ms. Kennedy will focus on practice acquisition, physician recruitment, managed care contracting, developing the company’s existing service lines and establishing new service lines. Before joining Holdings, Ms. Kennedy was the chief executive officer of Impel Management Services, L.L.C. and the chief administrative officer for The Medical Clinic of North Texas, P.A. Prior to those roles, Ms. Kennedy was a senior executive at the Gallatin Medical Foundation/InterHealth Corporation and was vice president for development at the Presbyterian Intercommunity Hospital.

On October 19, 2012, in accordance with the Bylaws of USMD Holdings, Inc. the holders of the Ventures designated Ms. Darcie Bundy as the new director and, on October 19, 2012, the board unanimously adopted a resolution to elect Ms. Bundy as a director, effective immediately. Ms. Bundy will serve as a director until the next annual meeting of the stockholders and until her successor shall have been elected and qualified, except in the event of her death, resignation or removal. Ms. Bundy, 61, currently serves as a pro-bono advisor to MediSend International.