Inovalon Announces CEO Transition

Rhea-AI Summary

Inovalon announced a significant leadership transition as founder and CEO Keith Dunleavy, M.D., will retire on March 1, 2025, moving to the Board of Directors. Adam Kansler, former President of S&P Global Market Intelligence, has been appointed as the new CEO.

Under Dr. Dunleavy's 26-year leadership, Inovalon grew into a major healthcare cloud-based software solutions provider, serving over 50,000 healthcare customers. Key achievements include the company's 2015 IPO, 2021 privatization, transformation to a pure-play cloud-based SaaS and DaaS platform provider, and AI implementation. The company manages data from more than 87 billion medical events.

Since its 2021 privatization, Inovalon has achieved double-digit compound annual growth in customer count, EHR NPI connectivity, unique medical event count, revenue, gross margin, and adjusted EBITDA.

Positive

• Double-digit compound annual growth across multiple metrics since 2021 privatization
• Extensive market reach with 50,000+ healthcare customers
• Significant data assets with 87+ billion medical events
• Incoming CEO brings extensive experience from $4.5B revenue division at S&P Global

Negative

• Major leadership change could create temporary operational uncertainty
• Transition period until March 2025 might impact strategic decisions

Keith Dunleavy, M.D., Founder and CEO to retire, transition to Board of Directors

Adam Kansler appointed as CEO for next phase of company’s growth

BOWIE, Md.--(BUSINESS WIRE)-- Inovalon, a leading provider of cloud-based software solutions empowering data-driven healthcare, today announced that Keith Dunleavy, M.D., who founded the company and has served as CEO for 26 years, will retire on March 1, 2025, and transition to the Board of Directors. The company has appointed Adam Kansler, a seasoned executive with a proven track record of innovation and driving growth, as its new CEO.

During his tenure at Inovalon, Dr. Dunleavy grew Inovalon into a leading industry player, whose mission to leverage software, data, and analytics to improve clinical outcomes and economics today supports more than 50,000 healthcare customers representing hundreds of millions of patients. Dr. Dunleavy oversaw the company’s IPO in 2015, the process of becoming a private company again in 2021, its subsequent transformation to a pure-play cloud-based SaaS and DaaS platform provider, and the implementation of AI within the company’s product portfolio. He led more than ten acquisitions and divestitures, and the provision of 100+ data-driven software solutions powered by the data of more than 87 billion medical events, now driving value and impact across the nation’s leading health plans, providers, pharmacies, and life sciences organizations.

“It has been the challenge, journey, and honor of a lifetime to have founded Inovalon and serve as its CEO for all these years. I am proud and excited to hand the baton over to Adam,” said Keith Dunleavy, M.D., founder and CEO, Inovalon. “The strength of Inovalon’s people, platform capabilities, and customer relationships, together with Adam’s extensive experience in building and operating leading data and software businesses, have me excited for Inovalon’s next chapter, driving truly market-leading value for our customers on an even greater scale.”

Mr. Kansler brings more than three decades of leadership at multibillion-dollar global businesses. He has a proven track record of innovation, driving growth and navigating complex legal, regulatory, and commercial landscapes. Most recently, he served as President of S&P Global Market Intelligence, the $4.5 billion annual revenue and 18,000 team member division of S&P Global (NYSE: SPGI), the world’s largest diversified data solutions provider. In this role, Mr. Kansler drove the development of new software and data products, the introduction of more than a dozen GenAI-driven solutions, multiple successful acquisitions, extensive cloud compute and operational efficiency initiatives, and the establishment of S&P Global’s cross-firm executive function for Enterprise Data. Previously, Mr. Kansler served as President of the Financial Services division and member of the executive team for IHS Markit, where he was responsible for the business’ data, analytics, platforms, and software solutions as the company grew from a valuation of approximately $13 billion in 2016 to $44 billion in 2022 when it merged with S&P Global.

“I am incredibly excited to join Inovalon as their next CEO at this critical time of transformation in the healthcare ecosystem,” said Adam Kansler, incoming CEO, Inovalon. “Inovalon’s scale of customer connectivity, cutting-edge tools, extensive data capabilities, and commitment to empowering organizations across the healthcare system to deliver better outcomes is tremendously inspiring. I’m eager to bring my experience to build on the company’s strong foundation and lead it into an exciting future of growth and impact.”

Since Inovalon’s privatization in 2021, the company has realized double-digit compounded annual growth across its customer count, EHR NPI connectivity count, and the unique medical event count within the company’s proprietary MORE² Registry^® primary source dataset. Meaningful advancements in software, data infrastructure, and product design have also supported double-digit compounded annual growth across revenue, gross margin, and adjusted EBITDA, building a scaled and strong platform to support Inovalon’s next phase of growth.

For more information on Inovalon’s approach to harnessing the power of data to improve healthcare outcomes and economics, visit www.inovalon.com.

About Inovalon

Inovalon is a leading provider of cloud-based SaaS and DaaS solutions empowering data-driven healthcare. The Inovalon ONE^® Platform brings together national-scale connectivity, real-time primary source data access, and advanced analytics into a sophisticated cloud-based platform empowering improved outcomes and economics across the healthcare ecosystem. The company’s analytics and capabilities are used by over 50,000 active, licensed customers, and are informed by the industry’s largest primary source dataset of more than 87 billion medical events across 1.1 million physicians, 686,000 clinical settings, and 398 million unique lives. For more information, visit www.inovalon.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250128730128/en/

Tom Paolella

Sr. Director, Press and Analyst Relations, Inovalon

Thomas.paolella@inovalon.com

Source: Inovalon

FAQ

When will Keith Dunleavy step down as Inovalon CEO?

Keith Dunleavy will retire as Inovalon CEO on March 1, 2025, and transition to the Board of Directors.

Who is the new CEO of Inovalon?

Adam Kansler, former President of S&P Global Market Intelligence, has been appointed as Inovalon's new CEO.

What growth has Inovalon achieved since its 2021 privatization?

Since 2021 privatization, Inovalon has achieved double-digit compound annual growth in customer count, EHR NPI connectivity, medical event count, revenue, gross margin, and adjusted EBITDA.

How many healthcare customers does Inovalon serve?

Inovalon serves more than 50,000 healthcare customers, representing hundreds of millions of patients.

What is the size of Inovalon's medical event database?

Inovalon's database contains more than 87 billion medical events.