Adds significant payor industry expertise and bolsters next phase of company’s growth plan
June 27, 2023 – MultiPlan Corporation (NYSE: MPLN) (“MultiPlan” or the “Company”), a leading provider of technology and data-enabled cost management, payment, and revenue integrity solutions to the U.S. healthcare industry, today announced the appointment of John Prince to its Board of Directors, effective June 26, 2023. Prince has more than 25 years of executive leadership experience running businesses in healthcare services and technology and managing enterprise functions spanning strategy, corporate development, operations, and technology for healthcare payors and providers, bringing a valuable depth of expertise to MultiPlan’s board.
Until June 2023, Prince served as President and Chief Operating Officer of Optum, UnitedHealth Group’s health services platform, driving companywide performance for a business with $182B in revenue and $14B in operating earnings. Since 2005, Prince held numerous other executive roles with UnitedHealth Group, including Chief Executive Officer of OptumRx, Executive Vice President and Chief Financial Officer of Optum, and Chief Executive Officer of Optum Financial Services. Prior to UnitedHealth Group, Prince served as Senior Vice President and Head of Healthcare Business Development and Strategy at JPMorgan Chase.
“John’s ability to identify, develop, and execute strategies that address the complexities and nuances within the payor space is unmatched,” said Dale White, CEO of MultiPlan. “He will be a valuable addition to the MultiPlan board, and we look forward to collaborating with him as we continue our growth.”
Prince’s appointment coincides with the next phase of MultiPlan’s growth strategy. The Company recently acquired Benefits Science LLC to advance key priorities within its growth plan, including the launch of a new Data & Decision Science service line and further expansion into rapidly growing markets such as Medicare Advantage and in-network commercial. With over 40 years of experience in processing healthcare claims and $500 million invested in its technology platform, MultiPlan is well positioned to meet the increased demands of its customers with differentiated offerings and powerful tools to help solve healthcare’s most pressing challenges.
“With its market-leading position in out-of-network services, MultiPlan plays a critical role in the healthcare sector and is ideally positioned to expand payer value into in-network and government programs,” said Prince. “MultiPlan’s new data science capabilities will change the landscape for payer innovation by increasing understanding and reducing payers’ total cost of care, and will be a tremendous growth driver for the Company.”
About MultiPlan
MultiPlan is committed to delivering affordability, efficiency and fairness to the US healthcare system by helping healthcare payors manage the cost of care, improve their competitiveness and inspire positive change. Leveraging sophisticated technology, data analytics and a team rich with industry experience, MultiPlan interprets customers’ needs and customizes innovative solutions that combine its payment and revenue integrity, network-based and analytics-based services. MultiPlan is a trusted partner to over 700 healthcare payors in the commercial health, government and property and casualty markets. For more information, visit multiplan.com.
Forward Looking Statements
This press release contains forward-looking statements. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “forecasts,” “intends,” “plans,” “may,” “will” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts, including the discussion of MultiPlan’s anticipated growth and long-term prospects. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date they are made. Any forward-looking statements that we make herein are not guarantees of future performance and actual results may differ materially from those in such forward-looking statements as a result of various factors. Factors that may impact such forward-looking statements also include the factors discussed under “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022; and other factors beyond our control. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. The Company’s periodic and other filings are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
