Mr. Rico is a co-founding partner and managing director at MBF Healthcare Partners, L.P., the lead investor on eMindful’s funding round.
Vero Beach, FL (PRWEB) October 13, 2011
Having secured its first round of institutional funding, eMindful has added healthcare industry veteran Jorge L. Rico to its board of directors.
Mr. Rico is a co-founding partner and managing director at MBF Healthcare Partners, L.P., the lead investor on eMindful’s funding round. He has served as the Managing Director of the firm since inception, and manages all aspects of MBF's investment activities. His background includes 19 years of progressively responsible positions in healthcare companies, including operations, health plan administration, hospital administration, business development, and information technology.
Prior to MBF, Mr. Rico was chief operating officer at Ramsay Health Care, Inc. (RHCI), which was successfully sold to Psychiatric Solutions, Inc. (PSYS). He then assisted with the integration of RHCI into PSYS, and served as president of the largest division at PSYS.
“The addition of Jorge Rico greatly broadens and enhances the healthcare experience of our board, which complements an already strong management team,” said Hyman Kahn, M.D., a former executive with U.S. Healthcare and current member of eMindful’s board. “I am looking forward to working with Jorge and this talented team to achieve rapidly the company's milestones.”
Mr. Rico has held senior executive roles with Ramsay-HMO, Inc. and United HealthCare. He holds board positions with several companies including Navarro Discount Pharmacies, Nutri-Force Nutrition, Simply Healthcare Holdings, and Omni Home Care. Mr. Rico holds an M.B.A. in Healthcare Administration from the University of Miami.
MBF is a private equity firm dedicated to the healthcare sector. In June the firm announced its equity investment in eMindful.
eMindful provides employers with evidence-based, sustainable behavioral change programs to reduce health care costs and increase productivity. It is the only company delivering live, interactive, mind-body wellness curriculums online. The company tackles soaring employee health costs and health-related productivity losses by addressing the root behavioral causes of chronic disease. Its programs are taught by licensed health professionals, including physicians and psychotherapists, and are designed to assist individuals prevent, mitigate, and slow the progression of diseases associated with family, work and lifestyle risk factors.
eMindful has partnered with Duke University Health System to develop its evidence-based programs, allowing the company to deliver curriculums steeped in high quality demonstrated research. The Company recently completed a randomized controlled trial of a stress-reduction program with Duke and one of its customers, Aetna. Aetna's review of medical claims' data showed a positive correlation between costs and study participants' stress levels.