Privia Health Announces Expansion of and Changes to Board of Directors
29 Junio 2023 - 8:00AM
Privia Health Group, Inc. (Nasdaq: PRVA) today announced that Adam
Boehler, founder and Managing Partner of Rubicon Founders, will
join the Company’s Board of Directors effective July 1, 2023. He
will replace Will Sherrill, Principal with Pamplona Capital, who is
resigning his Board seat effective July 1, 2023 following
Pamplona’s sale of its ownership position in Privia Health through
a secondary offering that closed on May 8, 2023. Parth Mehrotra,
currently the Company’s President and Chief Operating Officer, will
also join the Board effective July 1, 2023, the date when he
becomes the Company’s CEO. Current CEO Shawn Morris, who is
retiring, will remain on the Board. In connection with these
elections, the size of the Board was increased to ten directors.
Mr. Boehler established Rubicon Founders in
2021. Prior to that, he served as the first CEO of the U.S.
International Development Finance Corporation, the U.S.
Government's $60 billion international investment arm. From July
2018 to October 2019, Boehler served as Senior Advisor for
Value-based Transformation and Innovation to the Secretary of the
Department of Health and Human Services (HHS). Previously, he
served as Deputy Administrator of the Centers for Medicare &
Medicaid Services (CMS) and as Director of the Innovation Center at
CMS (CMMI) where he focused on transforming the American healthcare
system to create better outcomes for patients at lower cost. From
2012 to 2018, Boehler founded and served as CEO of Landmark Health,
a company delivering around-the-clock medical care to chronically
ill patients in their homes. Boehler graduated magna cum laude from
the Wharton School of the University of Pennsylvania.
“This is an ideal time in Privia Health’s
evolution to leverage its highly differentiated operating model to
drive significant value in the healthcare ecosystem,” Adam Boehler,
founder and Managing Partner of Rubicon Founders, said. “Privia
enables physicians to enhance their practice and deliver
outstanding patient care while preserving their autonomy. This is
transformational as we accelerate the move to value-based
care.”
“With the completion of the secondary offering
in May that eliminated restrictive provisions in the Shareholder
Agreement with the Company’s primary private equity sponsors, we
are beginning the process of reviewing corporate governance
provisions and broadening the capabilities and expertise of our
Board of Directors,” said David King, Chairman of the Privia Health
Board of Directors. “Adam Boehler has deep domain experience and
knowledge of the many important trends that are rapidly changing in
the healthcare landscape. We welcome him to the Board and look
forward to his valuable insights as Privia continues to build on
its market momentum and focuses on creating value for all of our
stakeholders.
“Parth and Shawn also have deep healthcare
expertise, combined with strong strategic and operating experience
in the value-based care environment. We are delighted that Parth is
joining the Board and that Shawn is remaining as a valued
colleague,” King added. “Finally, we thank Will Sherrill for his
important contributions to Privia Health during his time as a board
member.”
“I am pleased to join the Privia Board,” said
Parth Mehrotra, Privia's incoming CEO. “The Company is
well-positioned to advance its patient- and provider-centric
mission in the years ahead, and I am excited at the opportunity to
lead the Privia team. I am also pleased that Shawn will remain a
Board member, which highlights the smooth executive transition,
continuity of leadership and consistency of Privia’s long-term
strategy.”
About Privia Health
Privia Health™ is a technology-driven, national
physician enablement company that collaborates with medical groups,
health plans, and health systems to optimize physician practices,
improve patient experiences, and reward doctors for delivering
high-value care in both in-person and virtual settings. The Privia
Platform is led by top industry talent and exceptional physician
leadership, and consists of scalable operations and end-to-end,
cloud-based technology that reduces unnecessary healthcare costs,
achieves better outcomes, and improves the health of patients and
the well-being of providers. For more information,
visit priviahealth.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release may contain statements that
constitute “forward-looking statements. ” These forward-looking
statements are subject to a number of risks and uncertainties, many
of which are difficult to predict and beyond Privia Health’s
control, which could cause actual results to differ materially from
those indicated in the forward-looking statements. Those factors
include, but are not limited to, the risk factors set forth in
Privia Health’s filings with the SEC, including Privia Health’s
most recently filed Annual Report on Form 10-K and subsequent
reports on Form 10-Q and Form 8-K, as the case may be. Copies are
available on the SEC’s website at www.sec.gov. Privia Health
undertakes no obligation to update these statements for revisions
or changes after the date of this press release, except as required
by law.
Contact
Robert BorchertSVP, Investor & Corporate
CommunicationsIR@priviahealth.com817.783.4841
Privia Health (NASDAQ:PRVA)
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