BOWIE, Md., April 9, 2013 /PRNewswire/ -- Inovalon, Inc., a leading provider of data-driven healthcare solutions, today announced that William J. (Bill) Teuber Jr. has joined the Company's Board of Directors.
"We are very pleased to have Bill join our Board of Directors," said Keith Dunleavy, M.D., President, CEO, and Chairman of Inovalon. "Bill's significant knowledge and experience regarding large-scale technology enterprises, his role in supporting the growth of a technology leader such as EMC to a market capitalization of nearly $50 billion, and his personal interests in highly relevant areas of cloud computing and "Big Data", make Bill an exceptional addition to Inovalon's Board of Directors."
William J. (Bill) Teuber Jr. brings to the Inovalon Board of Directors a long and successful track record in large-scale technology enterprises. Having joined EMC Corporation (NYSE: EMC) in 1995 and now serving as Vice Chairman, Mr. Teuber has served in multiple key roles supporting the growth and expansion of this leading technology organization. With a market capitalization of nearly $50 billion, revenues of $21.7 billion in 2012, and 60,000 people worldwide, today EMC is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. With a significant focus on IT transformation, the global rise of "Big Data" and trusted IT infrastructure, EMC is dedicated to supporting the storage, management, protection, and analysis of organizations' most valuable asset – information.
In Mr. Teuber's current role as Vice Chairman at EMC he focuses on corporate strategy and business development in emerging markets, assists with government relations and works closely with the Board of Directors. From 2006 to 2012 Mr. Teuber oversaw EMC Customer Operations, the company's global sales and distribution organization. In this role, he was responsible for driving EMC's growth and market leadership worldwide. His scope of responsibilities included overseeing investments to build up EMC's presence in emerging markets, which delivered robust revenue growth under his leadership. Before that, Mr. Teuber served as EMC's Chief Financial Officer from 1996 to 2006, leading the company's worldwide finance operation with responsibility for all of EMC's financial reporting, balance sheet management, foreign exchange, audit, tax, and investment banking programs. While CFO, he was also responsible for EMC's Information Technology and Investor Relations functions.
Prior to becoming CFO, Mr. Teuber was Vice President and Corporate Controller. He joined EMC in 1995 from Coopers & Lybrand L.L.P. where he was a partner in the firm's Audit and Financial Advisory Services practice.
In addition to his role on the Board of Directors of Inovalon, Inc., Mr. Teuber is also a member of the Board of Directors of Popular, Inc., a diversified financial services company that includes Banco Popular as a holding. He is also a Trustee of the College of the Holy Cross. He holds an MBA degree from Babson College, a Master of Science in Taxation from Bentley College, and a Bachelor's degree from Holy Cross.
Retirement of Richard W. Lasch from the Board of Directors
William Teuber, Jr. will be taking the Board of Directors seat made available as a result of the retirement of Richard W. Lasch from Inovalon's Board. Mr. Lasch served in this role since the Board's formation, and continued to do so after his retirement from day-to-day operations in June of 2010. During his long and highly valued tenure with Inovalon and its predecessor organizations, Mr. Lasch contributed greatly to the growth and development of the organization with multiple key roles such as the founding of the medical record review division, serving as the division's president and CEO, and later in multiple executive positions involved in client services, HEDIS operations, and the Company's broader business development and strategy initiatives.
"Rick has contributed in many ways to the development, growth, and success of Inovalon," said Keith Dunleavy, M.D., President, CEO, and Chairman of Inovalon. "I am truly grateful for all that Rick has done to help make Inovalon what it is today. He has contributed his time, insights, and support as a leader, colleague, friend and Board Member. I am very fortunate to have had his help for all of these years."
About Inovalon, Inc.
Inovalon, Inc. is a leading technology-enabled healthcare solutions provider focused on the importance of healthcare data and its ability to drive dramatic, objective improvement in clinical and quality outcomes, care management and financial performance throughout the healthcare community. Proprietary healthcare datasets, aggregation and analysis capabilities, combined with a national infrastructure of leading-edge technology, clinical prowess and deep human resources, empower Inovalon's advanced generation of healthcare assessment and improvement through highly informed solutions. Driven by data, Inovalon uniquely identifies gaps in care, quality, data integrity, and financial performance — while also bringing to bear the resources to resolve them. This differentiating combination provides a powerful capability suite, touching more than 540,000 physicians, 220,000 clinical facilities, and more than 120 million Americans, driving high‐value impact, improving the quality and economics for health plans, hospitals, physicians, patients, and researchers. Please visit www.inovalon.com for more information.
SOURCE Inovalon, Inc.