10 03Evolent Health Completes Acquisition of Valence Health
09 26MDwise Partners with Valence Health To Support Health Plans
Valence Health, a leading provider of clinical integration, population health and value-based care solutions and services, today announced that it has appointed R. Andrew Eckert as Chief Executive Officer. Previously, Mr. Eckert served as the Chief Executive Officer of numerous private and public companies including TriZetto, Eclipsys, CRC Health and ADAC Laboratories. He will join the company effective Monday, August 3.
At the same time, the company announced that revenues grew more than 55% over the last twelve months in comparison to the 12 months prior. To support this record growth, the company has added more than 300 employees in the past year, and expects to have 1,000 employees serving 120 clients by year-end.
Building on this strong growth, Mr. Eckert will help Valence Health further advance its vision and capabilities in response to high client demand. He replaces Phil Kamp, who has served as CEO since founding Valence Health in 1996. Mr. Kamp will step into a new role as Chief Strategy Officer, where he will focus on working with clients to develop and implement their value-based strategies and lead Valence Health’s efforts in developing new products and services. Co-founder Todd Stockard will remain the company’s President, with a focus on operations and assisting existing clients who are pursuing the most advanced forms of value-based care. All three will be members of Valence Health’s Board of Directors.
Valence Health Chairman of the Board, Dr. Chris Kryder commented, “The Board couldn’t be more impressed by the work Phil and Todd have done in building the leading value-based care company. Their continued deep involvement will help Andy as he carries forward Valence Health’s commitment to clients.”
“We are thrilled to have Andy join the company in this leadership role,” said Mr. Kamp. “In order to efficiently and effectively manage our growth in service of our clients, we knew we needed additional talent at the executive leadership level. As co-founders, and with the full backing of our board, we led an exhaustive search to find an executive with the right background, skills, humility and sense of mission to guide Valence Health into its third decade of operations. We are very excited to introduce Andy to our clients and partners.”
Incoming CEO Mr. Eckert said, “At a time when there are so many changes and opportunities for providers related to value-based care, it’s an honor and a privilege to join a company with comprehensive set of solutions that has been operating for twenty years. This is a company that has steadily grown over time by doing the right thing for its clients, applying its expertise in practical and impactful ways. I’m excited to continue that legacy.”
During the past 12 months, the company has added more than 15 clients, who in turn manage more than 400,000 lives in full risk or health plan lives. Among these new clients are:
Several factors combined to fuel Valence Health’s impressive expansion. “Every hospital and health system in the country is in some stage of evaluation, consideration or operation of value-based care models,” said Mr. Stockard. “The landscape is evolving so quickly due to regulatory changes, consumerism and competitive pressures, that providers need experienced partners with comprehensive solutions to help them adapt and thrive.”
The company was recently named by Crain’s Magazine as a member of its Chicago Fast 50, and has previously been included in Inc. Magazine’s 500/5000 list and recognized by Deloitte as a member of its Fast 500 technology firms.