• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Apollo Health Street Appoints US Healthcare Finance Veteran, Andrew DeVoe, As the Group CEO & President

Posted on: Monday, 6 August 2007, 09:19 CDT

Apollo Health Street (AHS), a global healthcare outsourcing solutions provider, today announced the appointment of Andrew DeVoe as Chief Executive Officer and President of the AHS Group, comprising AHS and all of its subsidiaries. As part of his new responsibilities, Andrew will work with the company's global teams to refine strategic business objectives and work towards establishing AHS' vision of becoming the largest, fully integrated healthcare business process outsourcing (BPO) company in the world.

AHS is poised to lead the growing healthcare BPO market, serving small to large hospitals, physician groups, and payors across the United States looking for a global, integrated solutions provider, based in the United States, that is grounded in healthcare and specifically, healthcare finance. Over the last six years, AHS has consistently grown by 50 percent or more, and has worked with prestigious hospitals, health systems, and physician groups, including several of U.S. News and World Report's "Best Hospitals" and three of the top five commercial payors in the US, on a full range of business, revenue cycle and IT services for a positive return on investment.

While serving as Senior VP and CFO at the University of Pennsylvania Health System (UPHS), Andrew led the health system's capital and operating budget process and was part of a team that led UPHS to significant financial strength, including the implementation of best practice A/R management, and financial improvements that resulted in multiple upgrades by both S&P and Moodys. Immediately prior to joining UPHS, Andrew was Regional Vice President of Finance for Tenet Healthcare Corporation in Pennsylvania.

At Tenet, Andrew was a four-time recipient of the "Outstanding CFO" award. Andrew played a critical role in each of his former employers' financial performance and ultimately improving the health of the communities they served. He has also had successful tenures with Health Management Association Inc. in Naples, Florida and Hospital Corporation of America in Nashville, Tennessee. Andrew has a Bachelor's degree in Finance from Belmont College in Nashville, Tennessee.

To achieve the company's strategic vision, Andrew will be supported by a team of senior leaders who have a diverse set of complementary provider and payor expertise, which allows AHS to create and implement innovative solutions to hospitals' most demanding requirements.

"I am extremely pleased to be joining AHS and look forward to spearheading the growth of the company through a combination of acquisitions and an aggressive organic growth path. The healthcare outsourcing space is growing rapidly, and it presents AHS with an immense opportunity to apply its proven outsourcing solutions encompassing world-class resources, technology, and processes. I have been very impressed with the company's emphasis on quality of services, and I look forward to working with the team to bring in exceptional value to our customers in the US and globally," said Andrew DeVoe, incoming CEO and President.

"AHS has enjoyed a spectacular growth trajectory over the last three years. Our impact on the US payors and providers stems from our unique global delivery model and the deep domain knowledge of our parent organization. There remains great potential to serve the US healthcare markets and the Board is happy to entrust Andrew DeVoe with this mandate," said Sangita Reddy, Managing Director, AHS.

Apollo Health Street (AHS) is a leading pure play healthcare outsourcing solutions provider. AHS offers Business Process Outsourcing (BPO) and IT services to US healthcare providers, payors, and technology companies. Its IT-based Business Process solutions are designed to increase process efficiencies, improve quality and significantly reduce costs for its clients. With around 1500 employees spread across its offices in New Jersey and the back office in Hyderabad, India, AHS has grown aggressively and is well on track to establish itself as the world's largest pure play healthcare outsourcing company. Leveraging best practices from a wealth of industry expertise, deep US health care experience, a global workforce model, and enabling technologies, AHS clients' realize dramatic and rapid operating income improvement typically yielding a positive return on investment within 60 days.

AHS is owned and backed by the Apollo Hospitals Group (the fourth largest for profit hospital chain in the World), One Equity Partners (the private equity investment arm of JP Morgan Chase) and Temasek Holdings (private equity arm of the Government of Singapore and one of the largest investment firms in Asia). Every member of AHS's leadership team brings extensive healthcare financial and operations experience and is committed to leveraging the same to improve the financial health of the global healthcare system.

Source: Business Wire

More News in this Category