John S. Watts, Jr. Joins Outsourcing Provider's Board as Strategic Expansion Continues
TAMPA, Fla., Nov. 15, 2010 /PRNewswire/ -- HealthPlan Holdings, Inc. ("HealthPlan") today announced that it has appointed John S. Watts, Jr., a former executive with WellPoint, Inc., to chairman. HealthPlan is a leading provider of outsourcing solutions to insurers in the individual, small business, union trust and voluntary benefits markets.
Mr. Watts brings to HealthPlan nearly 30 years of experience building, growing and leading large health plan organizations. He previously served as president and CEO of WellPoint's commercial and consumer segment comprised of individual, small group, large group and national accounts. Prior to WellPoint, Mr. Watts was president and CEO of Blue Cross Blue Shield Georgia.
"We are very pleased to have recruited John to HealthPlan. His extensive knowledge of the health insurance industry and experience growing key markets for payers will contribute greatly to the company's strategic growth plans," said Steve Cosler, a board member with HealthPlan and an operating partner with Water Street.
Founded in 1970, HealthPlan was acquired by Water Street, a strategic private equity firm focused exclusively on healthcare, in 2008. Since then, HealthPlan has expanded to serve a growing base of customers including Ameritas Group, CIGNA, Coventry Health Care, Freelancers Union, Humana Inc. and Nationwide. Earlier this year, Water Street facilitated HealthPlan's acquisition of GEMGroup to expand the company's technology platform in the union trust market.
"John's expertise will be an asset to our organization. As health reform is implemented in the coming years, millions of consumers are expected to enter the individual insurance market. We will continue to develop the most comprehensive and flexible outsourcing solutions to help our customers successfully attract and retain as many members as possible," said Jeff Bak, president and CEO, HealthPlan.
Added Mr. Watts: "I'm excited to join the accomplished board of HealthPlan Holdings. The company delivers highly effective outsourcing solutions that enable insurers to better serve their members and attract new consumers who are entering the individual market. I look forward to helping advance the company's mission."
About HealthPlan Holdings, Inc.
Founded in 1970, HealthPlan Holdings, Inc. provides end-to-end sales, administration and technology solutions to the health care, ancillary and voluntary insurance markets. The company supports more than 25 insurance carriers that utilize its technology and service solutions to help grow and retain their members, and reduce their membership administrative costs in the individual and small business markets. The company currently supports more than 2 million members and thousands of small businesses, as well as some of the nation's largest Taft-Hartley funds for unionized workers. Headquartered in Tampa, Fla., HealthPlan employs approximately 1,200 associates. For more information, visit www.healthplanholdings.com.
About Water Street
Water Street Healthcare Partners is a strategic private equity firm focused exclusively on healthcare. The firm has a strong record of building market-leading companies across key growth sectors in healthcare. It has partnered with some of the world's leading healthcare companies on its investments including: Johnson & Johnson, Medtronic and Smith & Nephew. Water Street's team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global healthcare businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.wshp.com.
SOURCE HealthPlan Holdings, Inc.