Medical Asset’s Financial Chief Resigns

Money-losing Medical Asset Management Inc. said late Tuesday that its chief financial officer, Clarke Underwood, had abruptly resigned. Company executive Gary Steib has been appointed interim CFO pending selection of a new permanent financial chief. Michael Zaic, vice president of the Laguna Hills-based physician practice management company, declined to comment on Underwood’s departure. Medical Asset Management has operations in Alaska, Arizona, California, Colorado, Florida, Idaho, Mississippi, Ohio, Pennsylvania and Washington. It has been plagued by financial management problems that have resulted in delayed financial reports and cash flow shortages. For the 18 months ended June 30--the latest period for which it has posted a financial statement--the company reported cumulative losses of nearly $6 million.