Two pieces of news provide a flicker of hope amid the doom and gloom.
CINCINNATI (AP) — Omnicare Inc. said Friday that it has named former Amerigroup CEO James Carlson to its board of directors, effective July 1.
The Cincinnati company said the addition of Carlson expands its board to 10 directors, nine of whom are independent which means they are not employees of the company as well. Omnicare dispenses drugs and provides data management and consulting services for nursing homes and other long-term care centers.
Carlson served as CEO of Medicaid coverage provider Amerigroup Corp. from 2007 through last year, when fellow health insurer WellPoint Inc. acquired it. Medicaid is the state- and federally funded program that provides health coverage for the needy and disabled people.
Carlson also founded the physician group practice management company HealthSpring and has served as an executive vice president with UnitedHealth Group Inc., the nation's largest health insurer.
Omnicare Chairman James D. Shelton said in a statement Carlson's diverse industry experience and his perspective on strategic planning will be valuable to the board.
Omnicare shares rose 15 cents to $47.83 in midday trading Friday. That put the stock up about 32 percent so far this year.