Arine Accelerates Growth, Expands Board of Directors

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Feb 13, 2024, 08:00 ET

Board additions to focus on further scale-up of Arine's rapidly expanding
health plan customer base

SAN FRANCISCO, Feb. 13, 2024 /PRNewswire/ -- Arine, an AI-driven SaaS platform company focused on medication intelligence, today announced significant growth in its customer base as well as three additions to its Board of Directors who bring deep leadership experience spanning the health and SaaS industries. These executives will partner with Arine in enabling an expanding number of health plans and risk-based providers, through the application of Arine's software platform, to deliver reductions in total cost of care and improved patient outcomes. Arine's software is currently implemented by a broad set of health insurers, addressing medication related problems at scale and helping these organizations to quickly drive improved care for their millions of members.

The Board expansion comes at a time of accelerated growth for the organization. Arine has achieved a remarkable 100% client retention rate since inception and increased its revenue by 100% in 2023. In total, the company's AI-driven platform has produced more than 33 million life-improving recommendations and touched over 15 million client members. Arine's account portfolio includes four of the largest national health plans and the company is working with more than 30 health plans overall.

Each of the new Board additions brings a unique perspective to the organization as it assumes a market leadership role:

Perry Wallack was co-founder and CFO of Cornerstone On-Demand from 1999 through 2016. Cornerstone was one of the first and largest SaaS companies in the world, going public in 2011. Cornerstone is an AI-powered talent experience platform, with over 125 million users across 138 countries with 7,000 customers. Cornerstone was taken private by Clearlake Capital Group in 2021 for an enterprise value of $5.2 billion. Wallack also serves, or has served, on the boards of several SaaS companies, including Tebra, TigerConnect, Procore, and Pacvue.

Tom Cassels brings over 20 years of experience as a strategic advisor to health plans, health systems, life sciences and innovative technology companies. Cassels most recently launched and led Rock Health Advisory, a digital innovation strategy group working with 60+ Fortune 500 companies. Prior to Rock Health, he was Chief Strategy Officer for the commercial arm of Leidos' healthcare division, serving clients through enterprise SaaS tools, EHR modernizations, and direct care through Leidos' 15,000 providers and 90+ clinics. Cassels began his career with the Advisory Board Company where he was a founding partner in the firm's Strategy Consulting practice.

Dan Rosenthal currently serves as an Advisory Partner for Andreessen Horowitz Bio + Health and a Senior Advisor for 111° West Capital. Rosenthal recently retired from a 20-year career at UnitedHealthcare, the fourth largest US health insurer. While at UnitedHealthcare, Rosenthal was the CEO for Florida, California, and the West Region, spanning 13 states and 3 million members, for the company's Employer & Individual Markets business. Rosenthal also served as President of UnitedHealthcare Networks and was responsible for all aspects of UnitedHealthcare's Individual, Medicaid, Medicare, and Commercial Networks across the United States.

"Arine delivers a compelling approach to significantly decrease costs for care providers and payers, while enhancing care across their populations," said Dan Rosenthal. "This is urgently needed at a time when health plans are challenged by increased costs and the need to shift quickly to value-based care models. Arine's recent growth reflects the significant opportunity at hand and the demand for such innovative software platforms. I am excited to work with the team as they drive their commercial strategies forward."

"Arine has demonstrated proven outcomes with immediate impact that result in reductions to total cost of care, making us a leader in the industry," said Yoona Kim, Co-founder and CEO of Arine. "During this period of accelerated growth, we remain committed to addressing the needs of our clients' diverse populations. We are pleased to welcome these recognized leaders to help give shape to our future trajectory."

About Arine
Arine is an AI-driven SaaS platform company focused on medication intelligence and led by some of the world's top experts in pharmacotherapy, data analytics, health economics, engineering, and software development. Arine's AI platform helps customers devise appropriate, just-in-time interventions to optimize medication management for their patients or members, expanding their outreach and care team efficiency. Health plans using Arine's technology are shown to achieve significant ROI, improve patient clinical outcomes and reduce cost of care. Visit www.arine.io or follow us on LinkedIn.

SOURCE Arine