Announcement Reaffirms Not-for-Profit Company's Desire to Serve Seniors and
Disabled Through Growth Opportunities Outside of Existing Markets
LONG BEACH, Calif., July 8 /PRNewswire/ -- Arthur Henkel, a longtime veteran of both healthcare and investment banking, has been appointed vice president of mergers and acquisitions for SCAN Health Plan, company President and CEO David Schmidt announced today. With this appointment, the not-for- profit health enterprise has strengthened its commitment to grow and expand its reach beyond its current base in Southern California and Arizona with a continuing focus on the Medicare-eligible population.
"The number of Americans currently enrolled in government-sponsored programs for seniors and the disabled is continuing to rise and will soon comprise nearly 40 percent of our nation's current health expenditures," said Schmidt. "Over the past 30 years, SCAN has built a unique knowledge base of serving this population. Aggressively exploring other markets into which we can take our track record of success not only makes good business sense but is fully consistent with our mission of service to these individuals."
According to Schmidt, as a regionally based health plan, SCAN currently has only a "limited ability to participate in and influence public policy debates about proposed changes to the healthcare systems for seniors and persons with disabilities. By exporting our experience into other markets, we believe SCAN can play an important role in advocating for seniors and positively influencing the direction of a variety of geriatric care issues confronting our nation," Schmidt said.
Henkel brings to his new role more than three decades of investment
banking experience, during which time he arranged financings totaling in
excess of $15 billion for healthcare clients nationwide. Aside from capital
markets transactions, Henkel also acted as financial advisor in a number of
merger and acquisition a
|SOURCE SCAN Health Plan|
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