Blackstone Announces Appointment of Jeff Margolis, Leading Healthcare Information Technology Executive, as Senior Advisor

Rhea-AI Summary

Blackstone (NYSE:BX) has appointed Jeff Margolis as a Senior Advisor, bringing over 35 years of healthcare technology experience. Margolis, formerly CEO of Welltok and TriZetto, aims to leverage his expertise to aid Blackstone in investing in innovative healthcare solutions. Ram Jagannath, a Senior Managing Director, expressed enthusiasm for Margolis’s strategic insight in advancing healthcare technologies. Margolis’s track record includes transforming Welltok from a start-up to a leading consumer activation company. This appointment is expected to enhance Blackstone’s capabilities in navigating the evolving healthcare landscape.

Positive

• Appointment of Jeff Margolis as Senior Advisor brings extensive healthcare technology experience.
• Margolis's strategic expertise will assist in identifying innovative healthcare investments.
• Expected to strengthen Blackstone’s portfolio in rapidly evolving healthcare technology.

Negative

• None.

Blackstone (NYSE:BX) today announced the appointment of Jeff Margolis, former Chairman and CEO of TriZetto and the prior CEO and current Chairman of Welltok, Inc., as a Senior Advisor. Mr. Margolis brings more than 35 years of knowledge and experience growing innovative healthcare technology and service organizations, from early-stage through category-leadership, to advise Blackstone and its portfolio companies.

Ram Jagannath, a Senior Managing Director at Blackstone, said: “We’re thrilled to have Jeff join us as a Senior Advisor as we continue to identify and back innovators in the healthcare space. His strategic expertise in applying advanced technologies to address the complex challenges across the healthcare ecosystem will help our team better invest in, and support, the evolution and expansion of leading businesses in this industry.”

Jeff Margolis added: “I’m excited to support the Blackstone team’s commitment to systematically apply capital and industry thought leadership to accelerate progress at the nexus of healthcare and technology. Blackstone’s expertise and operational resources can play a crucial role in scaling the next generation of healthcare technology and services companies that meaningfully improve the health of individuals and populations across the globe.”

Jon Korngold, Global Head of Blackstone Growth, said: “We’re excited to welcome Jeff as a Senior Advisor. His long-standing, multi-faceted experience in healthcare information technology across private and government payers, providers, employers and pharma will benefit both our investment professionals and our portfolio companies as we help entrepreneurs navigate rapidly changing environments.”

Mr. Margolis’ extensive experience includes a decade as a Chief Information and Technology Officer, followed by 20 years as the CEO and/or Chairman of publicly traded and private healthcare technology companies. He most recently served as the Chairman and CEO at Welltok, Inc., where, over seven years, he led the company from a pre-revenue start-up to become a leading enterprise consumer activation company, which engaged with consumers 193 million times in 2020. Before joining Welltok, Inc., Mr. Margolis founded and spent 14 years at TriZetto Corporation, the first vertical SaaS enterprise software company, where he served as chairman and CEO. He is the author of several books, including his soon-to-be-released Not Just In Sickness, But Also In Health (ForbesBooks 2021).

Additionally, Mr. Margolis currently serves as Chairman at NextGen Healthcare (NASDAQ:NXGN), Vice Chairman at TriNetX and also as a board member at Alignment Healthcare. In the not-for-profit world, he serves as a board member of Hoag Hospital and is Chairman of Hoag Clinic, and is also Chairman of the University of California at Irvine's Center for Digital Transformation. Jeff is an AIPCA Certified Global Management Accountant and a Leadership Fellow with the National Association of Corporate Directors (NACD). Jeff holds a Bachelor of Science degree with high honors in Business Administration–Management Information Systems from the University of Illinois at Urbana-Champaign.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $584 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

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FAQ

Who is Jeff Margolis and what is his role at Blackstone?

Jeff Margolis is appointed as a Senior Advisor at Blackstone, bringing over 35 years of healthcare technology experience.

What experience does Jeff Margolis bring to Blackstone?

Margolis has held significant roles including CEO of Welltok and TriZetto, contributing expertise in healthcare technology.

What impact will Jeff Margolis's appointment have on Blackstone?

His appointment aims to enhance Blackstone’s investment strategy in innovative healthcare technologies.

What companies has Jeff Margolis previously led?

Margolis served as CEO at Welltok and TriZetto, leading both companies through significant growth phases.

What is Blackstone's focus in the healthcare sector?

Blackstone focuses on identifying and supporting innovators in healthcare technology to improve service delivery.