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November 21, 2022

Around the nation: Intermountain Healthcare names new president and CEO

Daily Briefing

    Intermountain Healthcare has named Robert Allen as its new president and CEO, in today's bite-sized hospital and health industry news from Missouri, North Carolina, and Utah.

    • Missouri: Centene on Thursday announced plans to sell Magellan Specialty Health to Evolent Health for more than $600 million in cash and stock. According to Modern Healthcare, this sale is part of Centene's current efforts to shed its non-health plan businesses. Evolent is expected to pay at least $400 million in cash and around $200 million in stock for Magellan. Depending on how Magellan performs in 2023, Centene could also receive an additional $150 million in cash, as well as Evolent common stock, in 2024. "The transaction is another significant milestone in our ongoing portfolio review and value creation plan," said Centene CEO Sarah London. The deal is expected to close in the first half of 2023, and Centene said it will use the sale proceeds to reduce its debt and repurchase stock. (Tepper, Modern Healthcare, 11/17)
    • Missouri/North Carolina: Oracle Cerner has partnered with Labcorp to "streamline lab operations for one of the nation's leading nonprofit Catholic health systems," according to a company release. Although Oracle Cerner did not name the health system in its release, it is likely to be Ascension, which recently finalized its own deal with Labcorp, the Kansas City Business Journal reports. The partnership with Oracle Cerner will allow Labcorp to expand the existing technologies in Ascension's hospital-based laboratories to standardize and optimize workflows and share information more easily across the health system. "The ability to easily manage workflow and testing information is imperative to providing the high level of service that customers expect from Labcorp," said Carl Warner, Labcorp's SVP of information technology. "With its well-established reputation and health technology, Oracle Cerner supports our goal of helping patients and physicians make better health decisions." (Vaupel, Kansas City Business Journal, 11/14)
    • Utah: Intermountain Healthcare on Thursday named Robert Allen president and CEO, effective Dec. 1. Allen has more than 25 years of health care leadership experience and has served as CEOs of hospitals in Massachusetts, New Jersey, and Wyoming. He joined Intermountain in 2008 and has served as its COO since 2017. According to Modern Healthcare, Allen will replace interim president and CEO Lydia Jumonville, who has led the system while the board searched for a permanent successor for Marc Harrison, Intermountain's former president and CEO. In August, Harrison left Intermountain to join venture capital firm General Catalyst. "Rob embodies the Intermountain values and will provide steady, servant leadership to the organization," said Mike Leavitt, chair of Intermountain's board and former Utah governor and HHS secretary. "He has always put our patients and caregivers first." (Devereaux, Modern Healthcare, 11/17; Gooch, Becker's Hospital Review, 11/17)

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