Business
Skylight Health Appoints New Chairman of the Board: Patrick McNamee, Former EVP and COO of Express Scripts
Skylight Health Appoints New Chairman of the Board: Patrick McNamee, Former EVP and COO of Express Scripts.
About this update from Skylight Health Group Inc.
[{"type":"text","content":"\n TORONTO, March 16, 2021 (GLOBE NEWSWIRE) -- Skylight Health Group Inc. (TSXV:SHG; OTCQX:SHGFF) (“Skylight Health” or the “Company”), one of the largest multi-specialty healthcare systems in the United States, is pleased to announce Patrick McNamee as new Skylight Health Chairman of the Board. Mr. McNamee succeeds Norton Singhavon who will remain involved as an active member of the Board. Mr. McNamee has previously acted as EVP and COO of Express Scripts, where he led all major activities of the $120B+ technology-driven pharmacy benefit management company. He was instrumental in leading the company’s organic and acquisitive growth from $3B in revenue to more than $120B achieving an average of 27% EPS growth over his 9-year tenure. With 33,000 employees, a $2.9B budget and 120M customers, he led the delivery of 110M mail order prescriptions while processing 1.5B retail claims annually. Patrick brought a strategic and operational perspective to this young company. He led the successful integration of the $4B WellPoint NextRx acquisition and the $29B Medco acquisition delivering over $4B in synergies. Leveraging global talent and technology, combined with strategic innovation and global sourcing, Patrick built a suite of products and services resulting in market cap growth from $6B to more than $50B. He also served as CEO for the $1.3B specialty distribution business growing at 20% annually. Frequent communication with investors and legislators helped pave the way for growth and share price appreciation. Most recently, Mr. McNamee agreed to a turn-around role as President and CEO, Health Insurance Innovations (NASDAQ:HIIQ), a health insurance developer and distributor. He led a significant and fast turnaround of this company after a rough IPO. Share price increased from $4 to $58 in 23 months. “I feel very privileged to take on this role during such an exciting shift in our industry – the needs of patients, doctors, payors and insurance providers are changing rapidly. Skylight Health is leading these changes in thoughtful and innovative ways which will benefit all its stakeholders for years to come,” said McNamee. “Patrick has a long history of strategic leadership, and deep experience and results in healthcare products and equipment services, global manufacturing and health i...