MedAssets Appoints Keith Thurgood as President, SCM Segment
ATLANTA--(BUSINESS WIRE)-- MedAssets, Inc. (NAS: MDAS) today announced that it has appointed Keith L. Thurgood, Ph.D., as president of its Spend and Clinical Resource Management (SCM) segment, effective immediately. In this role, Mr. Thurgood will provide overall leadership and set strategic direction for operations, product development, sales and marketing, as well as implementation and client service in order to drive the segment's growth and profitability. He reports to Mike Nolte, MedAssets chief operating officer.
"Keith brings a wealth of business experience and impeccable leadership capabilities to his role, and we welcome him to our executive team," said John Bardis, chairman, president and chief executive officer, MedAssets. "His expertise in business management, supply chain operations, strategy and innovation prepares him well to contribute broadly, and is a major asset helping to accelerate our company's already substantial momentum. On behalf of our management team and board of directors, we look forward to working with Keith as we continue to build upon our long-term growth and operational success."
Mr. Thurgood most recently served as deputy commanding general and chief of staff for the United States Army Reserve, directing field leaders and overseeing a $9 billion annual budget and more than 215,000 soldiers and civilians. Prior to that, he was president and chief executive officer of Overseas Military Sales Corporation, a global, privately held enterprise where he drove transformational change and developed senior leadership, growth and innovation platforms for the future.
During 2010, Mr. Thurgood was senior vice president, operations with Sam's Club, leading one of three operating divisions with responsibility for a $16 billion business and 35,000 team members operating more than 200 stores. From 2007 to 2010, he was chief executive officer of The Exchange, the Department of Defense's $10 billion for-profit, multi-channel global retailer with 45,000 associates and operations in 30 countries.
From 2006 to 2007, Mr. Thurgood returned to serve our country in the U.S. Army as commanding general of the 143rd Transportation (Logistics/Forward Command) and deputy commanding general of the 377th Theater Support Command supporting logistics operations in Iraq, Kuwait, Afghanistan and the Horn of Africa. From 1988 through 2006, he held a number of positions with PepsiCo and Frito Lay, Inc. including director of strategic sourcing, director of supply chain management, and director of strategy and innovation. Mr. Thurgood began his military career in 1981, serving in the U.S. Army as a transportation and logistics officer.
Mr. Thurgood holds a Ph.D. from Capella University, a Master of Strategic Studies degree from the Army War College, a Master of Business Administration degree from Boston University, and a bachelor's degree from Brigham Young University.
Commenting on his appointment, Mr. Thurgood said: "As a leader in the healthcare space, MedAssets is uniquely positioned to drive fundamental shifts in the business processes and financial improvement of healthcare providers. The caliber of MedAssets people, coupled with the company's enabling technology, great tools and cultural passion for making a significant difference in the lives of others, makes for a fantastic career opportunity. I am honored to be part of this organization, and am committed to delivering value beyond the promise of the MedAssets brand. I look forward to building on its foundation of excellence and focused purpose to enhance the quality and efficiency of our country's healthcare delivery system."
MedAssets (NAS: MDAS) partners with healthcare providers to improve financial strength by implementing spend management and revenue cycle management solutions that help control cost, improve margins and cash flow, increase regulatory compliance and optimize operational efficiency. MedAssets serves more than 4,200 hospitals and 100,000 non-acute healthcare providers. The company currently manages $48 billion in supply spend and touches over $340 billion in gross patient revenue annually through its revenue cycle solutions. For more information, go to www.medassets.com.
Robert Borchert, 678-248-8194
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