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 assignments involving hospitals, long-term care facilities, specialty hospitals, renal care providers and managed care organizations. He began his career as a consultant with Booz, Allen and Hamilton and later served in an administrative position at New England Medical Center in Boston.
A graduate of the University of Connecticut with concentrations in economics and history, Henkel received an MBA from the University of Chicago with concentrations in finance and healthcare administration. There he was the recipient of the Mary H. Bachmeyer Award as the top graduating student in health care administration. While at New England Medical Center, Henkel also served as a clinical instructor at the Tufts University Medical School, teaching a course on healthcare economics.
For more than 30 years, SCAN Health Plan has been focusing on the unique needs of people with Medicare and today is the fourth largest nonprofit Medicare Advantage Plan in the United States. The company currently serves more than 105,000 members in Los Angeles, Orange, Riverside, San Bernardino, San Diego, Ventura and Kern counties. In Arizona, SCAN offers a health plan for Medicare and Medicaid-eligible individuals and also provides long-term care services to individuals enrolled in the state's long-term care system in Maricopa County. Further information may be obtained at http://www.scanhealthplan.com.
|SOURCE SCAN Health Plan|
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