Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health
insurance company built around a full-stack technology platform,
today announced the appointment of Mark Bertolini to the role of
Chief Executive Officer, effective April 3, 2023. Co-Founder Mario
Schlosser, will transition to President of Technology, reporting to
Mark. In his new role, Mario will lead product and engineering,
with a focus on building Oscar’s tech platform for the future and
continuing to set the strategy for the +Oscar roadmap.
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Mario Schlosser, Mark Bertolini, Joshua
Kushner (Photo: Business Wire)
“I have worked closely with Mark in his role as a strategic
advisor to Oscar for the past 18 months and it’s become clear that
we share a vision for the future of healthcare,” said Oscar
co-founder Mario Schlosser. “By pairing my passion in tech with
Mark’s extensive expertise in building and scaling companies, we
are well-positioned to continue to execute our strategy for
profitability, set Oscar up for continued growth, and deliver
enhanced value for our members and shareholders.”
“Mark brings invaluable leadership expertise and a track record
for driving growth and profitability at scale. He has a long
history of pushing the healthcare industry to be more
forward-looking about the role of technology, and we are thrilled
he will bring his insights to Oscar. We are confident he will
position Oscar for long-term success,” said Jeffery Boyd, Oscar’s
Chairman of the Board.
Mr. Boyd continued, “Mario and Josh built Oscar with the
intention of changing the healthcare insurance industry, and, under
Mario’s leadership, Oscar has been successful in driving that
vision forward. Mario is a disruptive leader who, in his new role,
will continue to push the company to think creatively about how
technology can change healthcare in the U.S.”
“Oscar Health is an established challenger brand in the
healthcare industry, pushing the boundaries of how insurance
operates and delivers for members,” said Mr. Bertolini. “I am proud
to join the company at this pivotal time, and excited to cement
Oscar’s future as a leader in the industry.”
Mr. Bertolini is a national healthcare thought leader, and the
former Chairman and CEO of Aetna Inc. During his tenure at Aetna,
Mr. Bertolini led the company’s transition from a traditional
health insurance company to a consumer-oriented health care company
focused on delivering holistic, integrated care in local
communities. He has a long history of advocating for increased
consumerism, higher levels of value-based care, and more
digitization in healthcare.
Before joining Aetna, Mark held executive positions at Cigna,
NYLCare Health Plans, and SelectCare, Inc., where he was President
and Chief Executive Officer. Most recently, Mr. Bertolini served as
Bridgewater’s Co-CEO, and previously as Co-Chairman of the
Operating Board. He remains an outside director on Bridgewater’s
Operating Board of Directors, and serves as a director of Verizon
Communications Inc., Massachusetts Mutual Life Insurance Company,
Thrive Global, and the FIDELCO Guide Dog Foundation.
Mr. Schlosser will continue as a member of the Board of
Directors, and the Board will be expanded to add Mr. Bertolini.
In conjunction with today’s announcement, Oscar is also
reaffirming its 2023 guidance as outlined in its 4Q22 earnings
report on February 9, 2023. The Company Oscar also plans to release
its first quarter 2023 financial results after market close on
Tuesday, May 9, 2023.
Conference Call
Oscar will host a conference call today at 10:00 a.m. EST. A
link to the conference call is available in the Investor Relations
section of Oscar’s website located at https://ir.hioscar.com/.
The call-in numbers for the conference call are as follows:
- Live Call: (877) 400-4517
- Conference ID: 9186924
- Webcast Link
About Oscar Health
Oscar Health, Inc. (“Oscar”) is the first health insurance
company built around a full stack technology platform and a
relentless focus on serving its members. At Oscar, our mission is
to make a healthier life accessible and affordable for all.
Headquartered in New York City, Oscar has been challenging the
health care system's status quo since our founding in 2012. The
company’s member-first philosophy and innovative approach to care
has earned us the trust of over one million members as of January
31, 2023. We offer Individual & Family, Small Group and
Medicare Advantage plans, and +Oscar, our full stack technology
platform. Our vision is to refactor health care to make good care
cost less. Refactor is a term used in software engineering that
means to improve the design, structure, and implementation of the
software, while preserving its functionality. At Oscar, we take
this definition a step further. We improve our members’ experience
by building trust through deep engagement, personalized guidance,
and rapid iteration.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact
contained herein are forward-looking statements. These statements
include, but are not limited to, statements about our expected
financial performance and our planned leadership transition.
Accordingly, we caution you that any such forward-looking
statements are not guarantees of future performance and are subject
to risks, assumptions, and uncertainties that are difficult to
predict and generally beyond our control. Although management
believes that the expectations reflected in these forward-looking
statements are reasonable as of the date made, there are or will be
important factors that could cause our actual results to differ
materially from those indicated in these forward-looking
statements, including, but not limited to, the factors set forth
under the caption “Risk Factors” in our Annual Report on Form 10-K
for the fiscal year ended December 31, 2022, filed with the
Securities and Exchange Commission (“SEC”), and our other filings
with the SEC. You are cautioned not to place undue reliance on any
forward-looking statements made herein. Any forward-looking
statement speaks only as of the date as of which it is made, and,
except as otherwise required by law, we do not undertake any
obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future
developments or otherwise. New factors emerge from time to time,
and it is not possible for us to predict which will arise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230328005389/en/
Media Contact: Jackie Kahn jkahn@hioscar.com 202-538-0128
Investor Contact: Cornelia Miller VP of Investor Relations
ir@hioscar.com 917-397-0251
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