SAN JUAN, Puerto Rico,
July 16, 2020 /PRNewswire/
-- Triple-S Management Corporation (NYSE: GTS) today announced
the appointment of Dr. Stephen L.
Ondra to its Board of Directors, effective October 1, 2020. Dr. Ondra has served as
the Chief Executive Officer of North Star Healthcare Consulting, a
healthcare technology consulting company, since 2017.
Dr. Ondra's appointment will increase the size of Triple-S
Management's Board of Directors from eight directors to nine
directors.
"We are pleased to welcome Dr. Ondra to our Board," said
Cari M. Dominguez, Chair of the
Corporate Governance and Nominations Committee of Triple-S
Management's Board of Directors. "Dr. Ondra's vast medical and
healthcare technology expertise is a perfect complement to our
current Board as we continue to enhance the healthcare industry
experience and support the creation of a unique value proposition
for our current and prospective members. We believe Dr.
Ondra's considerable insight will further strengthen the Board and
provide considerable value as we continue to execute on our
long-term strategy."
Prior to joining North Star Healthcare Consulting, Dr. Ondra
served as the Senior Vice President and Chief Medical Officer of
Health Care Service Corporation ("HCSC"), the largest
customer-owned health insurance company in the United States, which operates as Blue
Cross and Blue Shield in Illinois,
Montana, New Mexico, Oklahoma and Texas. Before joining HCSC, Dr. Ondra was
Senior Vice President and Chief Medical Officer of Northwestern
Memorial Hospital, where he had previously been a Professor of
Neurosurgery and Residency Program Director at Northwestern University's Feinberg School of Medicine, and the interim
chair of Neurological Surgery.
In 2009, Dr. Ondra was appointed by President Barack Obama as the Senior Policy Advisor for
Health Affairs at the U.S. Department of Veterans Affairs. He also
served at the White House in the Executive Office of the President.
At the White House, he served in several positions, including
co-chair of the National Science and Technology Council for Health
Information Technology, member of the Federal Health Information
Technology Policy and Standards Committees, and member of the
Implementation Deputy Group for the Affordable Care Act.
Dr. Ondra currently serves as a Trustee of Illinois Wesleyan University and as a director on
the board of directors of ElectroCore, Inc., a bioelectronic
medicine company. He has also served on the board of TriWest
Healthcare Alliance, the Louis B. Sullivan Institute for Healthcare
Transformation, and chaired the scientific advisory boards for the
Defense Spinal Cord/Column Injury and the Spine Blast Injury for
the Department of Defense.
"I am excited at the opportunity to join Triple-S's remarkable
Board and contribute to the preeminent managed care organization in
Puerto Rico," added Dr. Ondra. "I
look forward to collaborating with the Board on guiding the
company's strategic initiatives in order to further generate
additional long-term shareholder value."
About Triple-S Management Corporation
Triple-S Management Corporation is an independent licensee of
the Blue Cross Blue Shield Association. It is one of the leading
players in the managed care industry in Puerto Rico. Triple-S Management has the
exclusive right to use the Blue Cross Blue Shield name and mark
throughout Puerto Rico, the
U.S. Virgin Islands, and
Costa Rica. With 60 years of
experience in the industry, Triple-S Management offers a broad
portfolio of managed care and related products in the Commercial,
Medicare Advantage, and Medicaid markets under the Blue Cross Blue
Shield marks. It also provides non-Blue Cross Blue Shield branded
life and property and casualty insurance in Puerto Rico. For more information about
Triple-S Management, visit www.triplesmanagement.com or
contact investorrelations@ssspr.com.
Forward-Looking Statements
This document contains forward-looking statements, as defined in
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include information about possible or
assumed future sales, results of operations, developments,
regulatory approvals or other circumstances. Sentences that include
"believe", "expect", "plan", "intend", "estimate", "anticipate",
"project", "may", "will", "shall", "should" and similar
expressions, whether in the positive or negative, are intended to
identify forward-looking statements.
All forward-looking statements in this news release reflect
management's current views about future events and are based on
assumptions and subject to risks and uncertainties. Consequently,
actual results may differ materially from those expressed here as a
result of various factors, including all the risks discussed and
identified in public filings with the U.S. Securities and Exchange
Commission (SEC).
In addition, the Company operates in a highly competitive,
constantly changing environment, influenced by very large
organizations that have resulted from business combinations,
aggressive marketing and pricing practices of competitors, and
regulatory oversight. The following factors, if markedly different
from the Company's planning assumptions (either individually or in
combination), could cause Triple-S Management's results to differ
materially from those expressed in any forward-looking statements
shared here:
- Trends in health care costs and utilization rates
- Ability to secure sufficient premium rate increases
- Competitor pricing below market trends of increasing costs
- Re-estimates of policy and contract liabilities
- Changes in government laws and regulations of managed care,
life insurance or property and casualty insurance
- Significant acquisitions or divestitures by major
competitors
- Introduction and use of new prescription drugs and
technologies
- A downgrade in the Company's financial strength ratings
- Litigation or legislation targeted at managed care, life
insurance or property and casualty insurance companies
- Ability to contract with providers consistent with past
practice
- Ability to successfully implement the Company's disease
management, utilization management and Star ratings programs
- Ability to maintain Federal Employees, Medicare and Medicaid
contracts
- Volatility in the securities markets and investment losses and
defaults
- General economic downturns, major disasters, and epidemics
This list is not exhaustive. Management believes the
forward-looking statements in this release are reasonable. However,
there is no assurance that the actions, events or results
anticipated by the forward-looking statements will occur or, if any
of them do, what impact they will have on the Company's results of
operations or financial condition. In view of these uncertainties,
investors should not place undue reliance on any forward-looking
statements, which are based on current expectations. In addition,
forward-looking statements are based on information available the
day they are made, and (other than as required by applicable law,
including the securities laws of the
United States) the Company does not intend to update or
revise any of them in light of new information or future
events.
Readers are advised to carefully review and consider the various
disclosures in the Company's SEC reports.
FOR FURTHER
INFORMATION:
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|
|
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AT THE
COMPANY:
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INVESTOR
RELATIONS:
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Juan José
Román-Jiménez
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Mr. Garrett
Edson
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EVP and Chief
Financial Officer
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ICR
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(787)
749-4949
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(787)
792-6488
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SOURCE Triple-S Management Corporation