EmpiRx Health Names Healthcare and Technology Veteran Danny Sanchez as CEO
Sanchez, Who Joined EmpiRx Health Earlier this Year as President, Assumes CEO Role – Reinforces Commitment to Company's Healthcare Mission
MONTVALE, N.J., June 1, 2023 /PRNewswire/ -- EmpiRx Health, the industry's only value-based PBM, today announced that the company's president, Danny Sanchez, has been named Chief Executive Officer. As part of a planned transition, Sanchez succeeds Karthik Ganesh who has served as President and then CEO of EmpiRx Health during the past five years.
EmpiRx Health is a category creator, redefining the traditionally volume-oriented healthcare benefits model through its value-based approach. By embracing a practical Population Health Management model that places pharmacists at the center of patient care teams, EmpiRx Health optimizes both patient health and financial outcomes. With total client savings now north of $1 billion dollars, new EmpiRx Health clients see an average of 15% reduction in their per member per month costs (PMPM) and sustained savings year-over-year.
"EmpiRx Health is now the PBM of choice for self-funded plan sponsors looking for a highly differentiated level of care, savings, and service," said Ganesh. "Despite our incredible growth and business results over the years, we have never lost sight of the fact that we are a healthcare company first. I have immense confidence in Danny's ability to not just drive exponential growth, but to also stay true to EmpiRx Health's core mission of improving our corner of healthcare, one patient and one client at time."
"I truly believe this is an historic moment for EmpiRx Health, especially as traditional PBMs come under increased scrutiny for their fundamentally flawed business approach that prioritizes drug volume to fuel profits," said Sanchez. "I want to thank Karthik for building this organization into the thriving and formidable industry change-maker that it is today. I have been so impressed with how EmpiRx Health has successfully transformed the PBM industry for the benefit of clients and their employee populations nationwide and as CEO, I am thrilled to further our company mission to revolutionize the healthcare benefits industry."
Sanchez joined EmpiRx Health in February 2023, bringing more than 20 years of broad-based healthcare industry experience. Prior to joining EmpiRx Health, Sanchez worked for more than 18 years at Omnicell (Nasdaq: OMCL), the global healthcare technology company. Most recently, Sanchez served as senior vice president and general manager of EnlivenHealth®, the Omnicell division that builds industry-leading digital technology solutions for the retail pharmacy industry.
About EmpiRx Health
EmpiRx Health is redefining healthcare by proving it is possible to control drug spend while improving health outcomes. Driven to fundamentally change the industry, EmpiRx Health is the most clinically advanced and only value-based pharmacy benefits manager (PBM). Founded in 2014, the company's growth is fueled by the highly unique, client-aligned nature of its value proposition – a pay-for-performance financial model with guaranteed savings, the industry's first client-tailored population health management solution, and an unparalleled high-touch service experience resulting in industry-best client retention rates. EmpiRx Health has been recognized as a BenefitsPRO Luminary, Fortune and Great Place to Work's Best Workplaces in Health Care, The Best and Brightest Companies to Work For®, and as an Inc 5000: Fastest-Growing Private Companies in America for three consecutive years.
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SOURCE EmpiRx Health
