BOWIE, Md. – May 19, 2014 – Inovalon, Inc., a leading technology company providing advanced cloud-based analytics and data-driven solutions to the healthcare industry, today announced the appointment of Robert Wychulis as President and Thomas Kloster, CPA, as Chief Financial Officer. With significant ongoing growth and record first quarter performance, the additions to Inovalon’s executive team further supports the company’s drive to bring high impact, advanced analytics to the point-of-care across the dynamic and rapidly expanding healthcare landscape.
Effective May 19, 2014, Mr. Wychulis will serve as President of Inovalon, a role split off by Dr. Keith Dunleavy, who has held the position of President along with Chief Executive Officer and Chairman of the Board since the company’s founding. In this newly delineated role, Mr. Wychulis will serve as the general manager of the Company, ultimately responsible for all aspects of the Company’s goals and commitments around day-to-day product and service delivery, performance, support, and client value achievement. Mr. Wychulis joins Inovalon after serving as the President of the WellPoint New York government program health plan, HealthPlus, an Amerigroup company, where he was responsible for the full P&L management of the company’s $1.9 billion product portfolio within the New York region. Mr. Wychulis was responsible for oversight of medical management, quality improvement, finance, compliance, human resources, government relations, provider contracting, marketing, enrollment, strategic planning, and the managed long-term care product, and played a pivotal role in working with state regulators in transforming New York’s Medicaid delivery system through the state’s Medicaid Redesign Team (MRT). In 2013 Mr. Wychulis was awarded WellPoint’s Pinnacle Award, the company’s highest management award. In the same year, HealthPlus was the most profitable of the 20 WellPoint government program plans. Prior to his tenure with WellPoint, Mr. Wychulis served as President and CEO of several other healthcare organizations, including the Florida Association of Health Plans and HealthPlan Southeast.
In addition to Mr. Wychulis joining the Inovalon Executive Leadership Team, effective April 1, 2014, Mr. Tom Kloster, CPA, joined the Company as Chief Financial Officer. In this role, Mr. Kloster is responsible for the oversight of all financial activities and relationships of the Company. Prior to joining Inovalon, Mr. Kloster served as the Chief Financial Officer at Algeco Scotsman, where he led all financial aspects of this $2.1 billion private-equity-owned entity operating in 35 countries. During his tenure, he supported the complex financial operations of the global financial activities of the company including the completion of several multi-billion dollar capitalization initiatives, multiple acquisitions, and significant financial process improvements. Prior to Algeco Scotsman, Mr. Kloster served as the Chief Financial Officer for Primus Telecommunications Group, Inc. where he oversaw the financial growth of the company from a private start-up to a major publicly traded multinational corporation with $1 billion revenues and more than 3,000 employees.
“In the setting of the significant growth and success that the Company is achieving, it is important for us to continue to expand our abilities, deepen our bench strength, and increase our capacity to serve our clients, deliver value, and capture the great opportunities before us,” said Keith Dunleavy, M.D., Chief Executive Officer and Chairman of the Board of Inovalon. “We are extremely proud of the positive impact that Inovalon and its partners are bringing to patients, clinicians, and health plans across the country. Bob and Tom are excellent additions to our team and will help Inovalon continue to accelerate and lead the modern technology transformation across the healthcare landscape. We are extremely excited to have them join us.”
Both Mr. Wychulis and Mr. Kloster will report to Keith Dunleavy, M.D.
About Inovalon, Inc
Inovalon is a leading technology company that combines advanced cloud-based data analytics with highly targeted interventions to achieve meaningful impact in clinical and quality outcomes, utilization, and financial performance across the healthcare landscape. Inovalon’s unique achievement of value is delivered through the effective progression of Turning Data into Insight, and Insight into Action®. Large proprietary datasets, advanced integration technologies, sophisticated predictive analytics, and deep subject matter expertise deliver a seamless, end-to-end platform of technology and nationwide operations that bring the benefits of big data and large-scale analytics to the point of care. Driven by data, Inovalon uniquely identifies gaps in care, quality, data integrity, and financial performance—while also bringing to bear the unique capabilities to resolve them. Touching more than 540,000 physicians, 220,000 clinical facilities, and more than 140 million Americans, this differentiating combination provides a powerful solution suite that drives high-value impact, improving quality and economics for health plans, ACOs, hospitals, physicians, patients, and researchers. Please visit www.inovalon.com for more information.
Kim E. Collins
4321 Collington Road
Bowie, Maryland 20716
Phone: 301-809-4000 x1473
Feinstein Kean Healthcare, on behalf of Inovalon, Inc.