September 5, 2017
SpecialtyCare announced exciting news today. Sam Weinstein, MD, MBA, President and Chief Medical Officer, has been elevated to Chief Executive Officer and Melvin F. Hall, PhD, who has served as CEO since 2014, will assume the role of Executive Chairman. It was also announced that the management team has partnered with Kohlberg & Company, a leading private equity firm, to acquire SpecialtyCare from American Securities, our investment partner for the last six years. These changes offer tremendous opportunities for us to further increase quality of care outcomes while improving value to our customers and patients through strategic acquisitions, organic growth, expanded service offerings, technology upgrades, clinical innovation, and other activities that strengthen our standing as a healthcare provider and an employer of choice.
Since joining our team as Chief Medical Officer and in an expanded role as President, Dr. Weinstein has been instrumental in shaping strategic business decisions that have strengthened our focus on clinical excellence, cost reduction, efficiency, and value-based performance. In addition to being an astute businessman, he is a board certified cardiothoracic and general surgeon who understands the day-to-day challenges of patient care as well as the intricacies of hospital business operations. We are excited to now have Sam in the CEO role.
As Executive Chairman, Dr. Hall will be an active and valuable advisor, lending support and guidance for SpecialtyCare’s strategic initiatives. “More than a year ago, I told our board members and private equity partners that I was ready to begin a structured and deliberate process of transitioning to a new CEO,” Dr. Hall said. “Soon after Sam joined our team in 2015, it became clear that he had the business acumen, clinical qualifications, and disposition to lead SpecialtyCare. I look forward to continuing to work with SpecialtyCare as Executive Chairman to build on our successes and support continued growth in the years ahead.” Evan D. Wildstein, Partner at Kohlberg, added, “We greatly appreciated the extensive coordination and planning that went into determining Mel’s successor. Sam’s knowledge, experience, and spirit of innovation make him a terrific choice for CEO. We are thrilled to move forward with Mel and Sam in their new roles.”
As exciting as these changes are, it will be “business as usual” in terms of our day-to-day activities. We will remain focused on providing market-leading services that increase consistency and reliability, resulting in improved patient outcomes and lower costs for our customers and patients. Regulatory compliance standards and ethical business practices will remain a given with SpecialtyCare. And, we will continue to live by the values that have shaped the winning culture we have today.
Our guiding philosophy has never been stronger: people and values matter. Doing the right thing extends to our business practices as well as our clinical performance. Kohlberg understands this. They respect not only what we do but also who we are. And that, perhaps more than anything, is vital to a successful partnership.