Castlight Appoints Driscoll as President

Castlight Health, a provider of health care transparency solutions for employers and payers, has appointed John Driscoll as president. Castlight Health is headquartered in San Francisco and backed by investors including Allen & Company, Cleveland Clinic, Maverick Capital, Morgan Stanley Investment Management, Oak Investment Partners, Redmile Group, T. Rowe Price, U.S. Venture Partners, Venrock, Wellcome Trust and two unnamed mutual funds.

PRESS RELEASE

Castlight Health, the leading provider of health care transparency solutions for employers and payers, has announced the appointment of John Driscoll as President. Driscoll brings more than 25 years of health care experience to the position and most recently served as a Group President at pharmacy benefits leader Medco Health Solutions.

“Castlight’s goal is to dramatically improve the way consumers make health care decisions and we will continue to look to our valued partner community of employers and health plans to help bring about a true change in the industry,” said Giovanni Colella, M.D., Co-Founder and CEO of Castlight Health. “John will be a great addition to our team. His vast experience in health care will be invaluable as we expand our partnerships and product offerings. We look forward to John’s contributions as we build on our strong momentum and accelerate innovation in our health care management suite.”

Today’s announcement closely follows Castlight’s $100 million Series D round of funding. The recent investment will enable the company to continue its steep growth trajectory, aggressively capitalize on the strong demand for health care software solutions and expand its services to help customers lower health care costs and improve outcomes.

“Transparency into the cost and quality of health care services is a nationwide issue, as people simply don’t have the information they need to make informed choices about their health care,” said John Driscoll, President, Castlight Health. “I see a tremendous opportunity for the transparency market and Castlight is driving this revolution. I look forward to working with Castlight’s stellar team as we expand Castlight’s relationships with health plans and providers, who have such an important voice in transforming health care.”

Prior to Castlight, Driscoll served as Group President for New Markets at Medco, where he was responsible for acquisitions and product development as well as the company’s consumer-driven and e-prescribing businesses which lead the market in their prospective segments. Previously, he held the position of Senior Vice President, Product and Business Development, and led Medco’s entry into Medicare, international markets and pharma services. Driscoll came to Medco from Oak Investment Partners, a venture capital firm, where he served as an advisor on health care investments. He also served in a number of senior operating positions at Oxford Health Plans, a major independent health plan which has since been bought by UnitedHealthcare. During his time at Oxford, Driscoll helped grow his area of the business from $6M to $1B in just over five years.

With its health care management suite, Castlight Health enables customers to reduce their overall health care spending while improving the quality of care for the employees they cover and support. Already, dozens of leading organizations, including Allegis Group, Honeywell, Life Technologies, Willis North America and Regis Corporation are leveraging Castlight’s advanced technology and unparalleled expertise to engage employees and drive improved results and outcomes.

About Castlight Health

Castlight Health enables employers, their employees, and health plans to take control of health care costs and improve care. Named #1 on The Wall Street Journal’s list of “The Top 50 Venture-Backed Companies” for 2011 and one of Dow Jones’ 50 Most Investment-Worthy Technology Start-Ups, Castlight Health helps the country’s self-insured employers and health plans empower consumers to shop for health care. Castlight Health is headquartered in San Francisco and backed by prominent investors including Allen & Company, Cleveland Clinic, Maverick Capital, Morgan Stanley Investment Management, Oak Investment Partners, Redmile Group, T. Rowe Price, U.S. Venture Partners, Venrock, Wellcome Trust and two unnamed mutual funds.

SOURCE: Castlight Health

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