Catalyst Health Solutions Expands Management Team

Catalyst Health Solutions, Inc. (NASDAQ:CHSI) today announced the expansion of its senior management team. The additions significantly strengthen Catalyst’s leadership and will support the Company’s continued growth.

Joining Catalyst are:

Wayne Dix, Senior Vice President, Operations & Business Transformation;
Andrew Brynes, Chief Financial Officer, Business Transformation;
Babette Edgar, President, Government Services;
Mark Noga, Chief Pharmacy Officer, Government Services;
Richard Keane, President, Employer Segment; and
Chris Myers, Senior Vice President, Member Services.

“We are pleased to welcome this talented group of experienced individuals to Catalyst,” said David T. Blair, Chief Executive Officer of Catalyst. “Their industry knowledge and operational and business expertise will be integral in the continued success of our long-term growth strategy and the integration of the Walgreens Health Initiatives (WHI) business. I look forward to working closely with each of them as we achieve our growth objectives and deliver innovative solutions to our clients.”

Wayne Dix, Senior Vice President, Operations & Business Transformation, will manage the WHI integration across all functional areas of Catalyst and assume responsibility for project management and quality assurance. Mr. Dix has over 20 years of experience leading operations, technology and quality improvement programs, primarily in financial services. Mr. Dix joins Catalyst from AXA Equitable where he held a variety of leadership roles, including post-merger integration of Mutual of New York client services and operations, deployment of a Six Sigma program and transformation of life insurance operations.

Andrew Brynes, Chief Financial Officer, Business Transformation, will be responsible for financial planning and analysis related to the integration of WHI, ensuring Catalyst’s revenue and profit targets are met and that cost synergies are realized. Mr. Brynes has 20 years of Chief Financial Officer and other executive level experience in financial management, strategic planning, business analysis, product pricing, acquisitions and integrations in a variety of industries, including both large public and privately held companies. Most recently, Mr. Brynes was the Chief Financial Officer of Townsend Capital, LLC.

Babette Edgar, President, Government Services, will be responsible for managing Catalyst’s Medicare Part D operations, with a particular focus on CMS compliance. Prior to joining Catalyst, Ms. Edgar was with Gorman Health Group where she ran the Medicare Part D consulting practice. Prior to that, Ms. Edgar was the Director of the Division of Finance and Operations for the Medicare Drug Benefit Group at the Centers for Medicare and Medicaid Services.

Mark Noga, Chief Pharmacy Officer, Government Services, will manage clinical operations specifically focused on Catalyst’s Medicare Part D business. Mr. Noga has 11 years of managed care experience, most recently serving as Vice President of Clinical Pharmacy for Medicare at Coventry Health Care. In that role, Mr. Noga helped grow Coventry’s Medicare program from inception to the fourth largest PDP in the country.

Richard Keane, President, Employer Segment, will have P&L responsibility for Catalyst’s Employer Group/TPA client segment. Mr. Keane has 24 years of healthcare industry experience, most recently serving as a Senior Vice President for OptumHealth/United Behavioral Health. Prior to that, he worked in leadership roles at CIGNA Healthcare and Aetna.

Christopher Myers, Senior Vice President, Member Services, will manage Catalyst’s Member Services Department, including the Company’s call centers, prior authorizations and clinical operations. Mr. Myers has 20 years of experience with several leading employee benefits service operations and call centers, including CitiStreet, CIGNA and Bankers Trust.

About Catalyst Health Solutions, Inc.

Catalyst Health Solutions, Inc., the fastest growing national PBM in the U.S., is built on strong, innovative principles in the management of prescription drug benefits and provides an unbiased, client-centered philosophy resulting in industry-leading client retention rates. The Company's subsidiaries include Catalyst Rx, a full-service pharmacy benefit manager (PBM) serving more than 7 million lives in the United States and Puerto Rico; HospiScript Services, LLC, one of the largest providers of PBM services to the hospice industry; FutureScripts, LLC, a full-service PBM serving approximately one million lives in the mid-Atlantic region, and Immediate Pharmaceutical Services, Inc., a fully integrated prescription mail service facility in Avon Lake, Ohio. The Company's clients include self-insured employers, including state and local governments, managed care organizations, unions, hospices, third-party administrators and individuals.

Forward-Looking Statements

This press release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties that might materially affect our results, particularly those risks referred to in our Annual Report on Form 10-K for the year ended December 31, 2010, and in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, under “Item 1A. Risk Factors.” Readers are urged to carefully review and consider the various disclosures made in our Annual Report on Form 10-K, our Forms 10-Q, and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and uncertainties that may affect our business. Catalyst Health Solutions, Inc. does not undertake any obligation to update forward-looking statements, whether as a result of new information, future events, or other developments.

Catalyst Health Solutions, (MM) (NASDAQ:CHSI)
Historical Stock Chart
From Jun 2024 to Jul 2024