David B. Snow Jr.

David B. Snow Jr. (born November 30, 1954) is an American business executive currently serving as the chairman and chief executive officer (CEO) of Cedar Gate Technologies, a healthcare predictive and prescriptive analytics company. He previously served as the CEO of Medco Health Solutions, the sixth largest pharmaceutical company in the United States by revenue.[2] He founded Americhoice, a drug development company he sold to UnitedHealth Group for $570 million.[3]

David Snow
Born (1954-11-30) November 30, 1954
NationalityAmerican
Alma materBates College
Duke University
Occupation
Years active1993–present
Employer
  • Oxford Health Plans (1993–1998)
  • Empire Blue Cross Blue Shield (1992–2002)
  • Medco Health Solutions (2003–2012)
Known forFounding and leading Cedar Gate Technologies, Medco Health Solutions as CEO and Chairman
Being the COO of WellChoice and Empire Blue Cross Blue Shield (both now part of Anthem)
Net worthUS$32.9 million (December 2016)[1]
Board member of

Snow is on the board of directors for Pitney Bowes, Teladoc, CareCentrix, the Clemson Institute for the Study of Capitalism, and Duke University's Fuquas School of Business.[4] In 2010, he was named #27 on the Harvard Business Review's “Best Performing CEOs in the World".[5]

Early life and education

Snow graduated from Bates College, in Lewiston, Maine, in 1976, with a degree in economics. He went on to obtain a Master's Degree in health care administration from Duke University Fuquas School of Business in 1978.[6]

Career

From April 1993 to April 1998, Snow served as an executive vice president of Oxford Health Plans and was responsible for medical delivery system development, medical management, Medicare, Medicaid and marketing.

He served at Empire Blue Cross Blue Shield from 1999 to 2002, where he joined in 1999 as chief operating officer and served as its president since 2001. He became executive vice president and chief operating officer of WellChoice (now part of Anthem) from 1999 to 2001. He co-founded Americhoice (also known as Medco Health Solutions) and served as its president and CEO.[7] He served as the president of Medco Pharmacy Benefit Unit of Merck & Co. since March 21, 2003. He served as chairman and president of Lincare Holdings, Inc. in 2004.[4]

Medco Health Solutions

Snow was appointed president and CEO of Medco Health Solutions in March 2003. He became chairman and CEO in June 2003.[8] He went on to serve as the executive chairman of Medco Health Solutions from June 2003 to 2013.

As of 2013, his total annual compensation was $22.12 million, with a five-year compensation package of $87.10 million. Forbes ranked him #43 in their "highest paid CEO in the country" ranking.[9] While at Medco Health Solutions, he led the company into public offering on the New York Stock Exchange in August 2003, increased revenue from $35 billion to $72 billion, quadrupled market capitalization, and acquired four smaller companies. Medico is ranked #34 on the Fortune 500, and took in $66 billion in revenue in 2011.[2]

He stepped down as a Medco Health Solutions official in 2014, walking away with $17 million in stock options.[10]

Cedar Gate Technologies

He founded Cedar Gate Technologies, a healthcare predictive and prescriptive analytics company, in February 2014. He invested $20 million of his own personal funds and fundraised $200 million from GTCR. Snow currently serves as the chairman and CEO of the company.[4][11]

Other business pursuits

Snow is on the board Pitney Bowes, Teladoc, CareCentrix, the Clemson Institute for the Study of Capitalism, the Duke University Fuquas School of Business.[4] He served as a director of IMPATH Inc. from 1995 to March 1999.[4]

Personal life

Snow lives in Darien, Connecticut.

Awards and honors
  • Named #27 on the Harvard Business Review's “Best Performing CEOs in the World" (2010)[5]
  • Named among the 100 most powerful people in New Jersey Business (2011)[12]
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References
  1. http://www.getnetworth.com/tag/david-b-snow-jr-medco/list=billionaires
  2. Rothman Institute of Entrepreneurship at Fairleigh Dickinson University (2014-01-14), David Snow 10 12 11, retrieved 2016-03-08
  3. "Cedar Gate Technologies". www.cedargate.com. Retrieved 2016-12-16.
  4. "David B. Snow Jr.: Executive Profile & Biography". Bloomberg L.P.
  5. "The Best-Performing CEOs in the World". Harvard Business Review. Retrieved 2016-03-08.
  7. "Cedar Gate Technologies". www.cedargate.com.
  8. https://people.forbes.com/profile/david-b-snow/52258
  9. "#47 David B Snow Jr - Forbes.com". www.forbes.com. Retrieved 2016-03-08.
  10. "#40 David B Snow Jr - Forbes.com". www.forbes.com. Retrieved 2016-12-16.
  11. "Obamacare creates greater need for telehealth innovations | Press". www.teladoc.com. Retrieved 2016-03-08.
  12. "Snow – Top 100" (PDF).
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