Paradigm Outcomes Welcomes John Watts Jr. as CEO, Closes ForeSight Medical Acquisition, and Retains Jim Hudak as Executive Chairman
Monday, October 16, 2017 | 2190 | 0
Industry executive and current board member, Watts, to lead company expansion
WALNUT CREEK, CA — October 16, 2017 — Paradigm Outcomes today announced the appointment of John Watts Jr. to the Chief Executive Officer position. Watts will lead the strategic expansion of the nation’s leading provider of catastrophic and complex care management solutions. He will retain his position on the Board of Directors. Jim Hudak, who has served as Paradigm’s CEO since 2011, will become Executive Chairman, thereby implementing a designed succession plan.
“This is the perfect time for John to become Paradigm’s next Chief Executive Officer,” said Paradigm Chairman and CEO Jim Hudak. “With our continued growth and the strategic addition of ForeSight Medical, Paradigm is becoming a more diverse and complex organization. We are fortunate to strengthen our company and add a senior leader to the Paradigm team.”
Watts brings a 35-year career in healthcare, leading large payor organizations and advising several private equity backed healthcare companies. Previously, Watts spent 12 years at Anthem, then the nation's largest health insurer. While at Anthem, he held numerous management positions, including President and CEO of Blue Cross Blue Shield of Georgia, President and CEO of Anthem National Accounts, and President and CEO of Anthem’s Commercial and Consumer Business, where he directed a $50 billion division that encompassed 14 Blue Cross Blue Shield plans.
Since leaving Anthem, Watts has served as Executive Chairman of several venture or private equity backed companies including Healthplan Holdings, International Medical Group, Implantable Provider Group and MdDatacor. He also served as a Managing Director of CCI, a specialty consulting firm that works with McKinsey & Company to manage peer to peer forums for CEOs and their direct reports in healthcare and technology. Watts has also served on the boards of CareCentrix and Metcare, Blue Cross and Blue Shield of Minnesota and CDx Holdings.
“I joined the Paradigm board because I believe in the company’s mission of improving outcomes for individuals with complex medical needs, and I support the unique business model of taking clinical and financial risk for the cases they manage,” said Watts. “At a time when the healthcare industry is striving to find new ways to improve outcomes and deliver value on high-cost cases, Paradigm’s focus and opportunity is more relevant than ever.”
Paradigm announced a definitive agreement to purchase ForeSight Medical last month. That purchase closed on October 12. ForeSight’s suite of surgical management solutions combined with Paradigm’s expertise in complex and catastrophic injuries will form the most comprehensive resource available for high-cost, high-acuity and complex care management for the workers’ compensation marketplace and beyond. Last year, Paradigm acquired two case management companies, The ALARIS Group and Encore Unlimited.
During his tenure as Paradigm’s CEO, Hudak oversaw the three strategic acquisitions, advanced the company's leadership position in catastrophic care management, diversified and expanded Paradigm’s customer base and grew revenues and EBITDA four-fold. Hudak has gained a reputation in the industry for his deep commitment to customer success and to helping catastrophically injured workers restore function and return to work.
Watts will assume the Paradigm Chief Executive Officer role effective October 16.
About Paradigm Outcomes
Paradigm Outcomes is the market leader in managing catastrophic and complex cases for the workers’ compensation industry. Paradigm’s core business provides clinically-driven comprehensive care management programs for people with acquired brain injuries, spinal cord injuries, multiple traumas, amputations, burns and chronic pain, achieving 5x better medical outcomes and lowering total costs by 40% compared to industry benchmarks. Together with its wholly owned subsidiaries The ALARIS Group, Encore Unlimited and ForeSight Medical, Paradigm works to improve health outcomes and lower medical spend for high-cost, complex cases. For more information, visit www.paradigmcorp.com.