CHICAGO, Jan. 19, 2021 /PRNewswire/ -- Health Care Service Corporation (HCSC) today announced Arun Prasad will join the company as senior vice president and chief strategy officer. Prasad will report to Maurice Smith, president and chief executive officer of HCSC, and will lead the organization's strategic efforts including long-term planning, business and corporate development and strategic investments. Arun's responsibilities also include oversight of HCSC's subsidiary businesses.
"Arun's past success as an advisor to clients on growth, innovation and strategic partnerships in health care markets will help enhance and accelerate HCSC's strategic plan to ensure our resiliency and expand our value for our members, employer customers and other stakeholders," said Smith. "We are pleased to welcome Arun and look forward to his leadership and strategic vision as we navigate the dynamic health care marketplace and position HCSC for long-term success in the future."
Prasad brings nearly two decades of strategic health care experience to HCSC. Most recently, Arun served as a managing director at Moelis & Company, where he led teams responsible for executing numerous corporate finance transactions including mergers and acquisitions, leveraged buyouts, recapitalizations, and other equity and debt transactions. Prior to joining Moelis & Company, he was an investment banker at both Citigroup and UBS Investment Bank in their respective health care investment banking groups.
"I am thrilled to join HCSC and look forward to partnering with Maurice and the senior leadership team to advance the Company's strategy and objectives," said Prasad. "HCSC is a market leader with a long track record of commitment to its members, customers, care delivery partners and communities. The Company has the resources and culture to build on its strong foundation to innovate and make the health care system work better for everyone."
Arun holds a B.S. in finance and economics from Boston College, where he was a member of the Honors Programs in both the Carroll School of Management and College of Arts and Sciences.
About Health Care Service Corporation Health Care Service Corporation is the country's largest customer-owned health insurer with more than 16 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. For more information, please visit HCSC.com, visit our Facebook page or follow us on Twitter.