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Pamplona Capital Management Names CEO, Executive Leadership Team for Combined MedAssets-Precyse EnterprisePamplona Capital Management (Pamplona) is pleased to announce the selection of global business leader J. Joel Hackney (News - Alert), Jr. as Chief Executive Officer for the new company to be formed by the combination of MedAssets' Revenue Cycle Management (RCM) segment with Precyse, a Pamplona-owned health information management (HIM) services, technology, and education company. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160120005381/en/ Joel Hackney (Photo: Business Wire) Hackney will assume his role following the completion of Pamplona's acquisition of MedAssets, expected in late January. Hackney's executive leadership team, also being announced, includes current key leaders from MedAssets and Precyse, providing continuity and legacy expertise as the businesses merge and expand offerings. The acquisition of MedAssets (NASDAQ: MDAS), a leading healthcare performance improvement company, by Pamplona was announced on November 2, 2015. Pamplona has also entered into a separate agreement with Vizient, Inc. (formerly VHA-UHC Alliance NewCo, Inc.), the nation's largest member-owned healthcare company, to divest MedAssets' Spend and Clinical Resource Management (SCM) segment to Vizient following the completion of Pamplona's acquisition of MedAssets. Both transactions are expected to be completed during the first quarter of 2016. "Joel has extensive experience in transforming companies into leaders within their industries," said Jeremy Gelber, M.D., partner at Pamplona Capital Management. "He is a dynamic leader whose diverse background and experience delivering technology enabled solutions make him the perfect person to bring together these companies and to build an enterprise that will raise the bar for healthcare revenue cycle and information management at such a critical time in the industry." Hackney has held significant executive leadership positions over the past two decades with some of the world's most influential businesses, including General Electric, Nortel (News - Alert) Networks Corporation and Avaya, and has extensive experience selling into the health system market with both infection control and technology solutions. He was most recently the president and CEO of AVINTIV, Inc. Hackney joined AVINTIV in June 2013 and put the company on an accelerated path of organic and acquisitive growth and global market expansion. Prior to AVINTIV, Hackney was senior vice president and general manager at Avaya (News - Alert). Prior to Avaya, Hackney spent four years in various executive positions at Nortel, and 14 years at GE, where he led various businesses and functions in both the U.S. and Europe. Hackney holds a bachelor's degree in Business Administration from the University of North Carolina at Chapel Hill. Attracting top talent to oversee the new business has been a top priority for Pamplona. "We are drawing upon the strong talent within Precyse and MedAssets, with the experience of additional outside executives to create a team that will ensure a smooth transition and continuity in key areas while positioning the MedAssets-Precyse enterprise to operate as a national leader in the end-to-end revenue cycle technology, outsourced services and education market," said Gelber. "The existing Precyse and Medassets RCM commercial, technology and service delivery teams will be transitioning to the new business intact and will continue their great results for customers. We are confident in this team's ability to build a great customer-focused and value-driven company that's positioned to win over the long term." Upon the completion of the MedAssets transaction, Chris Powell, CEO of Precyse, and Amy Amick, President of MedAssets' RCM business, will serve in new leadership roles in the combined company. Hackney will complement the leadership of Amick, Powell nd their leadership teams with additional successful executive leaders that will help guide the combined company toward full integration and long-term growth, including: Dennis Norman - Chief Financial Officer. Norman has been a key leader at AVINTIV for the past 16 years, responsible for finance, capital markets, mergers and acquisitions, strategic planning, corporate development and investor relations. Since 2009, in his role as executive vice president and CFO, Norman has played a critical part in developing and implementing AVINTIV's global strategies to support growth and global leadership. Prior to AVINTIV, Norman was with First American Corporation working in investor relations and strategic planning and commercial banking. Chris Powell - President, Health Information Management. Powell currently serves as CEO of Precyse, where his leadership has driven the organization's strategy and operations, propelling it to be a market leader in HIM. With a deep background in operations and sales, Powell's experience includes serving as vice president and general manager of sales and marketing at GE Healthcare and senior vice president of sales at IDX Systems Corporation. This role leverages Powell's leadership and expertise to establish continuity and position the company to grow its HIM business and integrate with the combined company's full line of capabilities and services. Amy Amick - President, Revenue Cycle Management. Amick joined MedAssets in September 2013 as president of the company's RCM segment, where she is responsible for strategic success and day-to-day operations including strategy, product development and management, and sales and client services. Her substantial background in both services and technology includes serving as chief operating officer for M*Modal, general manager of Worldwide Services for Microsoft (News - Alert), and senior vice president of Services for Allscripts. Widely regarded for her focus on customers and creating operational strength and growth, Amick's continued role within the combined company will be a key driver in creating continued value creation and customer impact. Steven Huddleston - Chief Strategy and Transformation Officer. Huddleston is currently a senior advisor at Pamplona Capital Management with more than 23 years of healthcare experience with large hospital and physician organizations. Prior to joining Pamplona in May 2015, he served as managing director in Accenture's (News - Alert) Health Strategy practice. Huddleston spent 15 years with HCA Holdings, where he helped build and implement the largest multi-function healthcare provider shared services organization in the industry and helped launch Parallon, a wholly owned health services subsidiary of HCA. Barry Murash - Senior Vice President, Business Excellence. Murash has served as the president, Global Operations and Business Excellence for AVINTIV since joining the company in January 2014. Prior to joining AVINTIV, his tenure with Applied Materials included such roles as corporate vice president, Global Fulfillment for Applied Materials; vice president, Global Sourcing; and vice president, Services Product Operations. Prior to that, he served as vice president, Global Operations for Avaya, and held several executive roles across multiple functions during his 22 years with Nortel. "The opportunity we have to lead our customers, with certainty, into an environment of value-based reimbursements is incredible. Throughout my career I've successfully invested in people, programs and technology to evolve industry thinking and customer service," said Hackney. "I am honored to work alongside this team of accomplished leaders to take on the opportunities ahead as we bring together two organizations into one great company that sets the new standard for healthcare revenue cycle and information management." MedAssets and Precyse already have a strategic partnership and share a number of customers, and their offerings are highly complementary. The combined enterprise will offer an end-to-end RCM and HIM solution and will be ideally positioned to partner with health systems to meet the needs of an evolving reimbursement environment that is increasingly requiring outsourced and clinically integrated revenue cycle solutions.
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About Vizient, Inc. (formerly VHA-UHC Alliance NewCo, Inc.) View source version on businesswire.com: http://www.businesswire.com/news/home/20160120005381/en/ |