HealthSpring, Inc. (NYSE:HS) today announced that Karey L. Witty has been appointed as Executive Vice President and Chief Financial Officer. Mr. Witty is expected to begin his new role with HealthSpring on or before July 1, 2009. He replaces Kevin M. McNamara, whose retirement as CFO was effective as of May 31, 2009.
Commenting on Mr. Witty’s hiring, Herb Fritch, Chairman and Chief Executive Officer, said, “We are very excited about the skill, experience, and enthusiasm Karey brings to the CFO position. His managed-care background in both chief financial officer and operating executive positions is particularly attractive to us. We think the insight gained in these roles will lead Mr. Witty to further strengthen the financial support of our various operations. In addition, he possesses the necessary understanding of the required accounting controls and financial reporting obligations of a public company. He comes to us as a result of an extensive national search, and we could not be more pleased that he will be joining us soon.”
Mr. Witty has over fifteen years of experience in financial management positions in the healthcare industry. For the past two years, Mr. Witty, who is 44, has been serving as executive vice president and chief financial officer of Valitás Health Services, Inc., a private-equity-backed clinical contract and healthcare management services company headquartered in St. Louis, Missouri, that provides services primarily to correctional facilities. For eight years prior to that, Mr. Witty served in various capacities for Centene Corporation (NYSE:CNC), including as chief financial officer during and following that company’s initial public offering in 2001 and more recently as chief executive of its Medicaid health plan operations.
HealthSpring is based in Nashville, Tenn., and is one of the country’s largest coordinated care plans whose primary focus is the Medicare Advantage market. HealthSpring currently owns and operates Medicare Advantage plans in Alabama, Florida, Illinois, Mississippi, Tennessee and Texas and also offers a national stand-alone Medicare prescription drug plan. For more information, visit www.healthspring.com.
J. Lankford Wade, 615-236-6200
Senior Vice President & Treasurer