Former CVS/Caremark President Howard McLure Transitions to change:healthcare CEO

Healthcare Industry Veteran to Drive Growth for Leading Cost Transparency Company

BRENTWOOD, Tenn.--(BUSINESS WIRE)-- change:healthcare today announced the addition of Howard McLure as chairman of the board, effective immediately. McLure will also transition to chief executive officer over the next several months, replacing company founder Christopher Parks, who will move to chief development officer to lead continued development of the company’s platform and strategic relationships.

change:healthcare today announced former CVS/Caremark Pharmacy Services President will be chairman o ...

change:healthcare today announced former CVS/Caremark Pharmacy Services President will be chairman of the change:healthcare board effective immediately. (Photo: Business Wire)

The president of CVS/Caremark Pharmacy Services from 2007 to 2009, where he presided over a $50 billion operation and 15,000 employees, McLure will lead change:healthcare through its next stage of growth as the company continues to gain significant traction with its Cost Transparency Solution.

“I’ve seen healthcare from all sides throughout my career – and I can’t think of a point in our country’s history where there’s been such a critical need to bring cost transparency to the table,” said McLure. “With an already proven track record in the industry, change:healthcare is the only company that’s actually giving healthcare consumers a way to make better decisions about their everyday healthcare purchases – and ultimately helping clients and their employees to reduce healthcare costs.”

For the past 11 years, McLure has been a key driver of the development and expansion of the Pharmacy Benefit Manager (PBM) industry. He served eight years in various roles, including CFO, senior executive vice president and COO at Caremark (acquired by MedPartners in 1996) as part of a management team hired to perform a strategic turnaround. As CFO, McLure was instrumental in driving PBM revenue growth from $2.5 million to $37 million in just six years and took a leadership role in the 2004 acquisition of AdvancePCS. As COO and senior executive vice president, McLure was a significant player in the merger with CVS in 2007. After the merger, McLure assumed the role of President, Caremark Pharmacy Service, the PBM division of the combined organization. In this role, McLure was also the driver behind the development of creative consumer-facing pharmacy solutions unique to the PBM industry that generated both financial success and value for retailers, employers and consumers.

“We are very excited to have Howard on board; his tenure and success at CVS/Caremark, as well as a shared mission to offer consumers true healthcare cost transparency, made him a perfect fit for our team,” said Parks. “In addition to years of healthcare industry expertise, his impressive history of success with investors, employees and stakeholders, combined with his talent in financial and operational management, will be critical to our aggressive growth plans over the next several years.”

Prior to his career at CVS/Caremark, McLure spent 14 years in senior management roles at Magellan Health Services, an operator of psychiatric hospitals and behavioral management care, where he provided accounting leadership in numerous acquisitions, transactions and divestitures.

McLure is a certified public accountant and member of the American Institute of Public Accountants. He earned a BAA in accounting from the University of Georgia.

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About change:healthcare

change:healthcare (www.changehealthcare.com) has set the industry standard for true healthcare cost transparency – a critical component to the success of consumer-directed health plans (CDHPs) and to controlling the burden of rising healthcare costs. Built on more than three years of medical claims data, the company’s web-based Cost Transparency Solution provides employees with personalized views of pricing information and proactive alerts that highlight opportunities to save money on routine care and prescriptions in their local area. By enabling informed decision-making prior to selecting and receiving care, change:healthcare delivers substantial cost savings to both employers and employees. change:healthcare works with more than 100 self-insured businesses across the U.S., representing more than 100,000 lives.

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CONTACT:

Lois Paul & Partners
Susan McCarron, 781-782-5767
[email protected]

KEYWORDS:   United States  North America  Tennessee

INDUSTRY KEYWORDS:   Practice Management  Health  Hospitals  General Health  Managed Care

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change:healthcare today announced former CVS/Caremark Pharmacy Services President will be chairman of the change:healthcare board effective immediately. (Photo: Business Wire)