Change Healthcare Announces Hiring of Key Executives to Support Significant Company Growth

BRENTWOOD, Tenn., Aug. 30, 2012 /PRNewswire/ -- Change Healthcare, the leading healthcare cost transparency and engagement company, announced today that it has hired three new executives to support the company's rapid growth and expansion into new market segments: William Seibels, chief financial officer, Scott Shaffmaster, chief technology officer, and Clayton Nicholas, vice president of marketing and strategy.

"As Change Healthcare continues to expand, William, Scott and Clayton bring expertise in key areas that will allow us to remain at the forefront of innovation in healthcare," said Howard McLure, Change Healthcare chairman and CEO. "Our growth over the last 12 months is proof of the significant interest in our offering as a driving force for greater healthcare transparency and consumer engagement. I am confident that the additions to our core management team will ensure that Change Healthcare remains well positioned to provide actionable savings for healthcare consumers."

Seibels brings more than a decade of experience in finance and operations for venture capital and private equity-backed companies to Change Healthcare. Most recently, he served as senior vice president of finance at Onlife Health, a provider of health and wellness services to health plans and self-insured employers. Prior to this, Seibels served as senior vice president of Guardian Home Care Holdings, where he managed the company's most profitable and fastest growing region.  Seibels also has experience in investment banking, having done both early stage and public capital raises and mergers and acquisitions transactions.  Seibels holds bachelor's degrees in English and general business from the University of Mississippi and a master's degree in business administration from the Harvard Business School.

Shaffmaster has more than 20 years of experience providing innovative leadership primarily in the healthcare IT services and technology industries, delivering sophisticated product solutions to meet company objectives and integrating acquisitions. Most recently, he served as vice president of IT service management at edo Interactive, a venture-backed company offering personalized discounts tied to the consumer's credit card, debit card or mobile device. Previously, Shaffmaster spent nearly 20 years at Emdeon, a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions. Shaffmaster holds a bachelor's degree in computer science from Stephen F. Austin University.

Nicholas brings nearly two decades of experience as an entrepreneur and Fortune 50 executive. Most recently, he was executive director of clinical strategy and operations for Walgreens. Prior to that, he founded and sold incentives company Giving Tree, LLC, and held senior positions at Healthways and IBM in corporate development, sales and operations.  He began his career as a medical specialist and commissioned officer in the U.S. Army, exiting service as a Captain. Nicholas holds a bachelor's degree in engineering management from the United States Military Academy at West Point, a master's degree in information systems from the University of Maryland and a master's degree in business administration from Harvard Business School.

"The strength of our management team positions us for significant growth," said McLure. "Building an experienced leadership team has been a priority for our organization and each of these leaders brings expertise that will allow us to grow our client base of self-insured employers and health plans, while pursuing new market segments."

About Change Healthcare
Change Healthcare Corporation (www.changehealthcare.com) launched in 2007 with a mission to engage consumers in obtaining personalized and actionable cost‐savings information that changes the way they purchase healthcare services. Built on a database of medical, dental and pharmacy claims from a national client base, Change Healthcare delivers substantial savings to health plan members and employers. With an average engagement rate over 50 percent, the company's web‐based solution, Transparency Messenger™, is the only tool able to generate and proactively communicate immediate savings opportunities customized to the employee, their plan and local area.

SOURCE Change Healthcare

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