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Former WellPoint Executive Can Add Payer Expertise to Board
SAN DIEGO, Oct. 2, 2013 – ResMed (NYSE: RMD), an innovator and pioneer in developing products for the treatment of sleep-disordered breathing and respiratory conditions, has nominated Carol J. Burt for an open position on its board of directors. The election will be held at the Nov. 14 annual meeting of stockholders in Sydney, Australia.
Burt is a principal of Burt-Hilliard Investments, a private investment and consulting firm to the health care industry. Previously, Burt was senior vice president of Corporate Finance and Development for WellPoint, Inc., where she helped build WellPoint into a leading national health benefits company with revenues of $61 billion.
“Government and private health care payers are beginning to realize the significant benefits of proactively treating sleep-disordered breathing among their covered lives,” said ResMed Chief Executive Officer Michael “Mick” Farrell. “Reducing costs associated with treatment of chronic conditions such as hypertension and heart failure is escalating as a priority in care management. With Ms. Burt’s guidance, we’d like to accelerate that escalation and help payers better understand how our therapy can arrest, and in some cases, reverse the progression of chronic conditions.”
“Ms. Burt is highly regarded in the health care industry and has both practical and visionary experience to help guide ResMed’s future,” said Ronald Taylor, chairman of the ResMed board’s Nominating and Governance Committee. “Under her leadership, she has helped companies rapidly scale to meet market opportunities. We look forward to having the privilege of her service on the ResMed board.”
The board position for which Burt is nominated is currently held by Michael Quinn, who will not be standing for re-election. Quinn served on the ResMed board for 21 years.
“Mike’s contributions to ResMed over the past two decades have been invaluable,” said Peter C. Farrell, ResMed founder and executive chairman. “He has helped ResMed mature and grow into a global force whose products have improved millions of lives in 100 countries. It’s been a pleasure to have him on the ResMed board.”