Parata Announces New CEO; Spins off Consumer Health Care Technology Incubator

DURHAM, N.C., April 3, 2015 /PRNewswire/ — 

News Facts:

• DJ Dougherty named CEO of Parata Systems, effective March 31, 2015
• Tom Rhoads becomes CEO of HAP Innovations, LLC
• Parata is in its strongest financial position since inception and anticipates the trend to continue with a record-setting performance in 2015

Parata Systems, the leader in pharmacy automation and medication management solutions, announced that DJ Dougherty, CFO of the Durham-based company for the last four years, is the new chief executive officer. Tom Rhoads is leaving his role as Parata's chief executive to become CEO of HAP Innovations, LLC, a consumer health care technology company that has a strategic alliance with Parata.

"DJ is a natural choice for this role," said Nancy Thomason, representing Parata's board of directors. "He is a bold strategist with more than a dozen years of leadership experience at the company. Tom and DJ worked closely together during Tom's tenure to build a financially strong and strategically focused organization. We look forward to continued innovation, strategic growth and financial success under the direction of DJ and the Parata leadership team."

Dougherty joined Parata in 2003 and has been instrumental in critical business development and strategy initiatives that accelerated the company's growth.

"Parata is in its strongest financial position ever and on track to see its healthiest year in the history of the company," said Dougherty. "I'm honored to serve as Parata's CEO as we enter our 14th year of serving pharmacies. We're bringing renewed energy and focus to industry challenges and will continue to deliver tools and solutions that impact pharmacies' bottom lines."  

Rhoads, Parata's CEO since 2010, becomes chief executive officer of HAP Innovations, LLC - a consumer health care technology company also located in Durham. HAP Innovations, funded by the same angel investor that backed Parata 14 years ago, will deliver consumer products and services to support medication adherence so people can live healthy and remain at home.  

"HAP Innovations provides a needed incubator for consumer products centered on patients and their caregivers, many reflecting the service demands of Parata's key customers," said Thomason. "We're excited to have Tom leading this venture to focus on growing health care consumerism."

"We will offer products and services to help high-risk patients better connect with the care community," said Rhoads. "When we make it easier for people to self-manage their medications and remain in their homes, ultimately, we contribute to a lower overall cost of care."

The synergy of Parata's core business, focused on primary pharmacy customers, aligned with HAP Innovation's consumer-facing technology is a winning combination - a two-way dynamic that is accretive for both organizations.

ABOUT PARATA
Parata provides pharmacy technology solutions that support business growth, better health outcomes, and lower medical costs. Founded in 2001, the Durham-based company is a brand trusted by more than 12,000 pharmacies and a growing number of global health care professionals serving diverse patient populations. Parata technology has filled more than 2.5 billion prescriptions, helping pharmacists avoid an estimated 15 million medication errors. For more information, visit parata.com, contact us at [email protected] or 888-PARATA1, and connect with us on Facebook and Twitter.

SOURCE Parata Systems, LLC

Related Links

http://www.parata.com