FOR IMMEDIATE RELEASE
Leawood, KS – April 16, 2018 – As part of NueHealth Holdings’ continued advancement as the industry leader in transforming the ambulatory surgery market to value-based care Ambulatory Centers of Excellence, it is with great pleasure that we announce the addition the addition of John R. Palumbo as Executive Chairman of NueHealth Holdings, LLC.
John Palumbo will be primarily responsible for providing full time executive oversight, strategic development and value creation for the NueHealth Holdings portfolio companies. John’s duties will include being Chairman of the Board for each of the five platform companies: NueHealth Performance, ValueHealth, HealthcareRe, Benefit Management and Muve Health.
Mr. Palumbo is a Senior Healthcare Executive with over 30 years of experience covering a wide range of market segments. He has a unique blend of launching successful small to mid-size companies combined with proven leadership and operating skills in large Fortune 100 companies. He brings a wealth of expertise with particular strengths in areas such as company transformation, strategic management, high performance culture skills, mergers and acquisitions (M&A), financial and operating reporting systems, investment banking, profit and loss reporting(P&L), and both financial strategy and long term budgetary oversight.
John’s service in the health care industry began as a founding member of Healthworks Alliance, LLC, a forerunner in Health Information Networks (CHINS) that developed point-of-care technology and reengineering services. In 1994, he took on the role of founder and Executive Vice President & COO of AllScripts, Inc., a health care informatics company that pioneered electronic health records, medication management software, and related technology services. His work at AllScripts garnered the attention of Siemens Medical Solutions, who recruited John to lead their National Health Services. In 1999, John became Vice Chairman of the Board of I-trax Inc., a company providing population health and productivity solutions for self-insured employers, health systems, payers, and federal programs. He joined their executive management team as President in 2002, and helped develop the company from an R&D venture to revenue of over $130M. I-trax was sold to Walgreen’s TakeCare Health division in 2008.
From 2004 until 2010, John was Senior Vice President at AmerisourceBergen Corporation, one of the world’s largest providers of pharmaceutical distribution services, related technology, and consulting services. During his tenure, John led his business unit through a business transformation; grew the unit’s revenue from $19B to $39B with a 17% Gross Profit CAGR; increased the unit’s market share from 29% to 42% by executing a value-based transformation initiative. AmerisourceBergen was ranked the #1 shareholder value public company from 2003-2011.
Most recently John was CEO of HealthRight, LLC. As a founder and CEO since 2011, he helped guide the company to transforming consumer health access and built one of the most profitable digital consumer health services company in the United States.
John is a Senior Fellow at the Jefferson University School of Population, a Senior Advisor of Bryant Park Capital, a New York and Philadelphia based investment banking firm, and Senior Advisor to Nueterra Capital.
“I am extremely excited about Mr. Palumbo joining our world class team of executives. He is a seasoned leader who has the unique ability to innovate and lead change in healthcare while respecting the past,” said Daniel R. Tasset, Chairman of Nueterra Capital.
NueHealth Holdings is a privately held, nationally trusted healthcare partner with more than 10,000 physicians and 25 health systems, delivering approximately $828 million of consolidated revenue annually in 28 states. Its core business is comprehensive outpatient surgical care and its market development is concentrated in four major regions: Mid-Atlantic, Florida, Texas and Mid-West. Since 1997, NueHealth Holdings has been successfully developing joint ventures with more than 150 high-value sites of service, supported by over 2,500 associates.
NueHealth Holdings’ Platform companies include the following:
The proprietary management system, NueHealth Performance™, dramatically improves efficiency and both financial and clinical performance, while taking advantage of the team’s years of experience operating and managing ambulatory surgery centers and surgical specialty hospitals.
ValueHealth partners with leading payors and other sponsors to create a consumer-focused market strategy. Its ACE PlatformTM delivers savings to patients, payors and sponsors through local systems of ambulatory surgery centers, hyper-specialty centers and low-cost surgical hospitals. ValueHealth connects providers, patients and payors like never before, empowering them with an Ambulatory Center of Excellence platform that facilitates new levels of accessibility, experience and savings transparency.
Muve Health is a technology-enabled healthcare delivery organization. Muve Health partners with the country’s leading surgeons to develop, own and operate a network of hyper specialty healthcare facilities that focus on providing total joint replacement and spine procedures in a unique healthcare environment utilizing value-based payment models.
Benefit Management is a progressive third-party administrator (TPA) empowering payors, employers and providers with targeted coverage and tailored contracting services. It offers value-based administration (VBA) for new reimbursement models, including prospective bundles.
HealthcareRe supports providers in the transition to value-based care simply by giving them control. With an innovative approach to risk, HealthcareRe identifies and manages the total cost of a provider’s risk, and then helps them build a custom reinsurance solution to meet their unique needs including bundled payments of episodes of care. By giving control of healthcare-specific risk back to the provider, HealthcareRe paves the way for better coverage, lower premiums and quality outcomes.