ELAP Services LLC (ELAP) announced today that it has appointed J. Patrick Foley as president and Mike Burnett as chief financial officer. The longtime health care executives will work closely with Chief Executive Officer Steve Kelly to lead the company through its next phase of growth. ELAP specializes in reducing health insurance costs for mid-size employers across the United States.
"We are very pleased to expand our leadership team with two highly experienced executives in the health care industry," said Mr. Kelly. "In addition to their industry expertise, both have strong track records in guiding businesses through strategic growth and acquisitions that will be invaluable as we extend ELAP's services into new areas."
Mr. Foley brings to ELAP an extensive background in leading health plan and physician management organizations. He recently served as senior vice president of delivery and operations at Lumeris, a population health management solutions company, where he led business and strategy development for Lumeris Healthcare Outcomes. Previously, Mr. Foley built risk-bearing accountable provider organizations and Medicare health plans for HealthSpring (now part of Cigna). He was later promoted to president of Cigna's Medicare Advantage division in the Mid-Atlantic and Pennsylvania regions.
Mr. Burnett has more than 30 years of professional finance experience with expertise in high-growth and newly integrated organizations. He previously served as chief financial officer for PDR, a provider of drug information and prescriber communications. He also was CFO of MediMedia USA, a provider of health information and services to physicians, consumers and other health care decision makers. Mr. Burnett also held financial positions at IMS International in the United Kingdom.
About ELAP Services
Headquartered in Wayne, Pa., ELAP Services is a national health care service company that partners with self-funded employers across the United States to help reduce health care expenses. The company assists employers with plan design to bring more transparency and collaboration between self-funded employers and medical providers. On average, each case managed by ELAP reduces employers' long-term health care expenses by as much as 25 percent. Founded in 2003, ELAP has grown to serve more than 400 organizations. It is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.
