Health IT

PBM veteran Gordon ‘Stonie’ Glenn named to Secure EDI’s board

Health IT firm Secure EDI has named Gordon "Stonie" Glenn, former CEO of pharmacy benefits management company SXC Health Solutions, to a seat on its board of directors. Charlotte, North Carolina-based Secure EDI has growth ambitions fueled by a $40 million equity investment into the company in 2010.

Gordon “Stonie” Glenn, former CEO of SXC Health Solutions, has been named to the board of directors for North Carolina health IT firm Secure EDI.

Charlotte, North Carolina-based Secure EDI provides electronic payment systems for insurance companies and healthcare providers. Glenn brings to Secure EDI more than 35 years experience in technology and healthcare. From 1998 through 2006, he was president and CEO of SXC (NASDAQ:SXCI), an Illinois-based pharmacy benefits management company that generates more than $1.4 billion in annual revenue. Glenn retired as chairman and CEO of SXC in 2008.

“Stonie’s experience growing SXC from a small business into a leader in this fast-growing, competitive sector, and understanding of the opportunities and challenges that come with growth, is exactly the type of background our company can benefit from as we continue to grow our core business and look at new avenues for growth,” Secure EDI CEO Barry Byrd said in a prepared statement.

Secure EDI has the capital to execute its growth plans. The company last May received a $40 million equity investment from Abingworth, a London-based investment group that focuses on investments in the life sciences and healthcare.  Secure EDI said that it plans to use the capital infusion to grow through strategic acquisitions as well as partnerships. Secure EDI operates throughout the United States, Puerto Rico and Latin America.

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