Transcarent Announces Tom Richards to Join as EVP for Business Development

A seasoned corporate and business development leader, Richards oversaw M&A and key integrations at Cigna during his 38-year tenure

PALO ALTO, Calif.--(BUSINESS WIRE)--Transcarent, a health and care experience company that makes it easy for people to access high-quality, affordable care announced today that Tom Richards has joined the organization as the Executive Vice President of Business Development. Reporting to Transcarent Chief Executive Officer Glen Tullman, Mr. Richards will oversee the organization’s business development strategy.

Mr. Richards joins Transcarent after more than 35 years at Cigna, most recently serving as the Senior Vice President and Global Lead of Strategy and Business Development where he oversaw the company's enterprise strategy, corporate development, and business development. At Cigna, Tom was responsible for M&A activities from 2013 to 2018. His team also led the integration and divestiture activities of numerous transactions. In 2014, he co-founded and launched Cigna Ventures, partnering with healthcare entrepreneurs to help them in their growth. Tom also served on the Board of MDLive.

“Tom's expertise in business development and corporate strategy will play a valuable role in the advancement of Transcarent’s mission of empowering people through access to high-quality, affordable care,” said Tullman. “As we continue to scale our business, Tom’s strategic counsel will help us to ensure we are pursuing the right partnerships to deliver great value to our Members and clients.”

“Transcarent is realigning the healthcare industry’s priorities and is setting the standard for how to truly empower people in their health and care needs while also acknowledging the financial challenges employers are facing today,” said Richards. “I’m excited to join the Transcarent team as we bring forward a comprehensive solution for employers and employees alike that doesn’t sacrifice quality or accessibility, but instead prioritizes it.”

Mr. Richards will be joining 7wireVentures as an Operating Partner where he will spend time with 7wire portfolio companies to enhance their go-to-market strategy, operations, and commercial growth with an emphasis on employers and health plans.

About Transcarent

Transcarent is a health and care experience company that makes it easy for people to access high-quality, affordable care. Through an integrated mobile or web platform, Members can access everyday care, for example, chat with a provider in less than 60 seconds, behavioral health, pharmacy care, care at home (or close to it), comprehensive surgical care, or receive additional care for complex care needs like cancer.

Transcarent takes accountability for results – offering at-risk pricing models and transparent impact reporting to align incentives towards measurably better experience, better health, and lower costs. For more information, visit www.transcarent.com and follow us on Twitter or LinkedIn.