ATLANTA, May 6, 2014 /PRNewswire/ -- Wellcentive, the industry leader in end-to-end population health management (PHM) and transformative data analytics for healthcare organizations, announced today that Patrick Clark, a senior executive with a proven track record of building and leading high-performing organizations, has joined as its Chief Financial Officer. Clark will oversee the company's financial, administrative, business planning, human resources and legal functions.
"Over the past year Wellcentive has undergone rapid customer, product and business growth, and we are thrilled to have Pat join our team supporting the continued acceleration of our execution, scale and innovation," said Tom Zajac, Wellcentive's CEO. "Pat's strategic and financial acumen and building of exceptionally successful media and technology businesses comes at a pivotal time in our company's history. We look forward to leveraging his vast experience as we rapidly build value for our customers and investors."
Clark comes to Wellcentive from Vocalocity (now Vonage Business Solutions), a company that provides cloud-based communications services, where he served as CFO. During his tenure the company more than doubled its revenue over a two-year period. Clark significantly improved Vocalocity's profitability and partnered with the CEO on the strategic positioning of the company, which ultimately led to a successful sale to Vonage Holdings Corp. in November 2013.
Prior to joining Vocalocity, Clark was Executive Vice President of Finance and CFO at The Weather Channel at the time of its more than $3 billion sale to NBC Universal, Bain Capital and The Blackstone Group in September 2008. While at The Weather Channel he managed the finance, accounting, business planning, treasury, corporate tax and real estate management functions. Clark played a key role in the company's transition from a popular cable channel to a multi-platform media company providing weather information to more than 100 million consumers via television as well as fixed and mobile Internet-capable devices.
Wellcentive is poised for growth
According to a recently released report by MarketsandMarkets, the PHM market is expected to increase at a compounded annual growth rate (CAGR) of 26 percent, expanding to $40 billion by 2018.
Wellcentive is well positioned to take advantage of this trend. The company was recently named a Leader in IDC Health Insights' new report, "IDC MarketScape: U.S. Population Health Management 2014 Vendor Assessment."
"Clearly, Wellcentive has performed well, cementing its position at the forefront of a strong market segment that is rapidly gaining traction," said Clark. "As providers and payers transition from fee-for-service to value-based reimbursement, a comprehensive population health management strategy will become the tipping point to achieving clinical and financial outcomes-based goals. I'm excited to join Wellcentive's senior management team at this pivotal time in the company's history to accelerate our success."
A high-resolution photo of Patrick Clark is available here.
Built from the ground up to help customers improve clinical, financial and human outcomes, Wellcentive's population health management solution is cloud-based, scalable, and customized to meet the needs of providers, health organizations, and payers. Recognized in 2013 by both KLAS and Chilmark, Wellcentive provides the technology, insight and services that care teams need in order to measure and report performance, and the education that leadership needs to find the most-profitable path from volume to value. Wellcentive aggregates data from more than 2,500 interfaces, and its solutions improve outcomes for over 23 million lives. Visit Wellcentive at www.wellcentive.com or call 877-295-0886 to learn more.
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