Prime Therapeutics names Jim DuCharme president and CEO

DuCharme served as Prime's CFO since 2012

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Apr 14, 2015, 08:00 ET

ST. PAUL, Minn., April 14, 2015 /PRNewswire/ -- Prime Therapeutics LLC (Prime), a pharmacy benefit manager serving more than 26 million members, announced today that its board of directors has named Jim DuCharme as president and chief executive officer (CEO). DuCharme joined Prime as chief financial officer (CFO) in 2012. He will assume his new duties on April 20.

"Prime's board of directors unanimously selected Jim to lead Prime into its next stage of growth and success," said Prime Board Chairman Andrew Corbin, president and CEO of Blue Cross and Blue Shield of Kansas. "In his time at Prime, Jim has continually demonstrated the value of his experience, expertise and vision for Prime's future."

DuCharme succeeds Eric Elliott, who announced in October that he would be leaving Prime in April to pursue other interests. Prime's board of directors conducted an extensive search for his successor.

As CFO, DuCharme has been instrumental in prioritizing strategic financial investments that have supported Prime's growth. Prime's membership grew from 20 million people in 2012 to 26 million members in 2014.

"Prime is a great company with a strong culture rooted in delivering excellent service with a passion to help our members," DuCharme said. "We will continue to grow by attracting new clients and owners, winning in the individual health insurance marketplace and building Prime Specialty Pharmacy into a top-three competitor."

DuCharme has had a long and successful career in health care management and financial leadership. Before coming to Prime, he served as CFO and treasurer for Harvard Pilgrim Health Care, Capital District Physicians' Health Plan, and Blue Cross and Blue Shield of Vermont. Earlier in his career, DuCharme also held finance positions at Blue Cross and Blue Shield of Massachusetts.

He received his Master of Business Administration in corporate finance from the University of Pittsburgh and his bachelor's degree in political science and economics from Dickinson College. He is a certified public accountant and a certified management accountant.

About Prime Therapeutics

Prime Therapeutics LLC (Prime) helps people get the medicine they need to feel better and live well. Prime manages pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid. The company processes claims and delivers medicine to members, offering clinical services for people with complex medical conditions. Headquartered in St. Paul, Minn., Prime serves more than 26 million people. It is collectively owned by 13 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Prime has been recognized as one of the fastest-growing private companies in the nation.

For more information, visit www.primetherapeutics.com or follow @Prime_PBM on Twitter.