Accomplished Industry Veteran with Proven
Track Record of Successful High Growth Operations to
support Marpai's vision of Affordable, Intelligent,
Healthcare
NEW
YORK, Jan. 12, 2024 /PRNewswire/ --
Marpai, Inc. ("Marpai" or the "Company") (Nasdaq:
MRAI), an independent national Third-Party Administration
company transforming the $22 billion
TPA market supporting self-funded employer health plans, today
announced the appointment of John
Powers as the Company's President. Powers is an accomplished
healthcare benefits executive with over 30 years' experience.
Powers was previously CEO of Homestead Smart Health Plans.
Powers brings deep operations knowledge and an extensive
industry network developed over his professional career in the
healthcare benefits space. Previous roles included Vice President
of HealthComp Holdings – a privately-held third party administrator
(TPA). John managed the integrated solutions while driving an
industry-leading Client-based Net Promoter Score (NPS) of 80.
Additionally, John served as EVP and principal of Advanced Medical
Pricing Solutions (AMPS) – a leading healthcare cost containment
company. In these positions, John was instrumental in driving tens
of millions of dollars in savings for his clients.
"Marpai's robust data analytics, combined with industry leading
partnerships and with the recent leadership changes focusing on
client savings and high growth was extremely compelling," said Mr.
Powers. "Moreover, I look forward to leveraging the Company's
recent successes and support the key strategic initiatives of rapid
efficiencies in operations, improving benefit savings opportunities
for our clients, and leading our efforts in achieving a high
growth, cash flow positive Company with a strong track record of
innovation."
Damien Lamendola, Chief Executive
Officer commented, "We are very excited to have John join the
Marpai Team. His leadership and business acumen are critical to
strengthening our foundation and positioning the Company for our
next growth phase. John's impressive industry knowledge and
professional record of achieving crucial operational targets,
working closely with customers and executing significant revenue
generating opportunities is a great fit for Marpai."
About Marpai, Inc.
Marpai, Inc. (Nasdaq: MRAI) is a leading, national TPA company
bringing value-oriented health plan services to employers that
directly pay for employee health benefits. Primarily competing in
the $22 billion TPA sector serving
self-funded employer health plans representing over $1 trillion in annual claims. Marpai works to
deliver the healthiest member population for the health plan
budget. Operating nationwide, Marpai offers access to leading
provider networks including Aetna and Cigna and all TPA services.
For more information, visit www.marpaihealth.com, the content
of which is not incorporated by reference into this press
release.
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, as that
term is defined in the Private Litigation Reform Act of 1995, that
involve significant risks and uncertainties. Forward-looking
statements can be identified through the use of words such as
"anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates," "guidance," "may," "can," "could", "will",
"potential", "should," "goal" and variations of these words or
similar expressions. For example, the Company is using forward
looking statements when it discusses Powers' role in driving the
Company's key initiatives. Readers are cautioned not to place undue
reliance on these forward-looking statements, which
reflect Marpai's current expectations and speak only as of the
date of this release. Actual results may differ materially from
Marpai's current expectations depending upon a number of factors.
These factors include, among others, adverse changes in general
economic and market conditions, competitive factors including but
not limited to pricing pressures and new product introductions,
uncertainty of customer acceptance of new product offerings and
market changes, risks associated with managing the growth of the
business. Except as required by law, Marpai does not undertake any
responsibility to revise or update any forward-looking statements
whether as a result of new information, future events or
otherwise.
More detailed information about Marpai and the risk factors that
may affect the realization of forward-looking statements is set
forth in Marpai's filings with the Securities and Exchange
Commission. Investors and security holders are urged to read these
documents free of charge on the SEC's web site
at http://www.sec.gov.
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SOURCE Marpai