Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance company built around a full-stack technology platform, today announced the appointment of Mark Bertolini to the role of Chief Executive Officer, effective April 3, 2023. Co-Founder Mario Schlosser, will transition to President of Technology, reporting to Mark. In his new role, Mario will lead product and engineering, with a focus on building Oscar’s tech platform for the future and continuing to set the strategy for the +Oscar roadmap.
“I have worked closely with Mark in his role as a strategic advisor to Oscar for the past 18 months and it’s become clear that we share a vision for the future of healthcare,” said Oscar co-founder Mario Schlosser. “By pairing my passion in tech with Mark’s extensive expertise in building and scaling companies, we are well-positioned to continue to execute our strategy for profitability, set Oscar up for continued growth, and deliver enhanced value for our members and shareholders.”
“Mark brings invaluable leadership expertise and a track record for driving growth and profitability at scale. He has a long history of pushing the healthcare industry to be more forward-looking about the role of technology, and we are thrilled he will bring his insights to Oscar. We are confident he will position Oscar for long-term success,” said Jeffery Boyd, Oscar’s Chairman of the Board.
Mr. Boyd continued, “Mario and Josh built Oscar with the intention of changing the healthcare insurance industry, and, under Mario’s leadership, Oscar has been successful in driving that vision forward. Mario is a disruptive leader who, in his new role, will continue to push the company to think creatively about how technology can change healthcare in the U.S.”
“Oscar Health is an established challenger brand in the healthcare industry, pushing the boundaries of how insurance operates and delivers for members,” said Mr. Bertolini. “I am proud to join the company at this pivotal time, and excited to cement Oscar’s future as a leader in the industry.”
Mr. Bertolini is a national healthcare thought leader, and the former Chairman and CEO of Aetna Inc. During his tenure at Aetna, Mr. Bertolini led the company’s transition from a traditional health insurance company to a consumer-oriented health care company focused on delivering holistic, integrated care in local communities. He has a long history of advocating for increased consumerism, higher levels of value-based care, and more digitization in healthcare.
Before joining Aetna, Mark held executive positions at Cigna, NYLCare Health Plans, and SelectCare, Inc., where he was President and Chief Executive Officer. Most recently, Mr. Bertolini served as Bridgewater’s Co-CEO, and previously as Co-Chairman of the Operating Board. He remains an outside director on Bridgewater’s Operating Board of Directors, and serves as a director of Verizon Communications Inc., Massachusetts Mutual Life Insurance Company, Thrive Global, and the FIDELCO Guide Dog Foundation.
Mr. Schlosser will continue as a member of the Board of Directors, and the Board will be expanded to add Mr. Bertolini.
In conjunction with today’s announcement, Oscar is also reaffirming its 2023 guidance as outlined in its 4Q22 earnings report on February 9, 2023. The Company Oscar also plans to release its first quarter 2023 financial results after market close on Tuesday, May 9, 2023.