Health Net Names Chuck Sowers President of Its Arizona Subsidiary
Health Net, Inc. (NYSE:HNT) today announced the promotion of Charles M. “Chuck” Sowers, 39, to president and chief executive officer of Health Net of Arizona, Inc., the company’s health plan subsidiary in Arizona.
Sowers’ career includes 18 years of executive experience, predominantly in managed care in Arizona. He joined Health Net of Arizona in 2002, most recently holding the title of regional finance officer. In that capacity, Sowers was instrumental in achieving the company’s financial turnaround. He succeeds Mark El-Tawil, 41, who held the position for four years and was recently promoted to chief senior products officer for Health Net, Inc.
“Chuck has done an outstanding job for us as regional finance officer,” said Stephen Lynch, president of Regional Health Plans for Health Net, Inc. “He’s a long-time Arizonan and a managed care expert. In this new role, he will hold decision-making authority for Health Net of Arizona, and I am confident that under his leadership Health Net will continue to grow and prosper.”
About Health Net
Health Net, Inc. is among the nation’s largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company’s HMO, POS, insured PPO and government contracts subsidiaries provide health benefits to approximately 6.6 million individuals in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs, including 156,000 in Arizona. Health Net’s behavioral health subsidiary, MHN, provides behavioral health, substance abuse and employee assistance programs (EAPs) to approximately 7.3 million individuals in various states. The company’s subsidiaries also offer managed health care products related to prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs.
For more information on Health Net, Inc., please visit the company’s Web site at www.healthnet.com.
Cautionary Statements
This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve a number of risks and uncertainties. All statements, other than statements of historical information provided herein, may be deemed to be forward-looking statements. These statements are based on management’s analysis, judgment, belief and expectation only as of the date hereof, and are subject to uncertainty and changes in circumstances. Without limiting the foregoing, the words “believes,”"anticipates,”"plans,”"expects,”"may,”"should,”"could,”"estimate,”"intend” and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially due to, among other things, rising health care costs, negative prior period claims reserve developments, trends in medical care ratios, issues relating to provider contracts, litigation costs, operational issues, health care reform and general business conditions. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included within the company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date of this release.