Advanced Medical Pricing Solutions Appoints Matt Brow as Chief Executive Officer and Board Member

Kirk Fallbacher to Continue as President of Drexi, Board Member and Member of the Leadership Team

PHOENIX, July 12, 2023 /PRNewswire/ -- Advanced Medical Pricing Solutions ("AMPS"), a Cimmaron Healthcare Capital portfolio company focused on supporting self-insured employers and healthcare stakeholders in providing affordable, fair, and transparent medical and prescription benefits, announced today the appointment of Matt Brow as Chief Executive Officer and Board Member.

Brow joins AMPS following nearly six years leading pharmacy software and life sciences advisory businesses for Inovalon, a leading provider of cloud-based software solutions empowering data-driven healthcare. Prior to Inovalon, Brow spent nearly 14 years in leadership roles with US Oncology and McKesson focused on strategy, communications, policy, reimbursement, business development, mergers & acquisitions, and operations.

Brow succeeds Kirk Fallbacher who, over the past seven years serving as COO and then President & CEO of AMPS, led tremendous growth and expansion of the company during that time. Fallbacher will continue his leadership contributions to AMPS as President of Drexi - the prescription benefits management subsidiary of AMPS, as an AMPS Board Member, as a member of the AMPS Leadership Team, and as executive sponsor for key strategic accounts.

"I am grateful for Kirk's continued commitment to leadership at AMPS, and I am humbled by the trust and confidence that the Cimarron Healthcare Capital team and our investors have placed in us to fully maximize AMPS' potential," said Matt Brow, Chief Executive Officer of AMPS. 

"I am honored to have the opportunity to join the exceptional team at AMPS and look forward to building strong relationships with both our team members and customers," said Brow. "In a healthcare market desperate for innovative solutions, AMPS is well positioned to accelerate its growth and revolutionize employer-sponsored healthcare by providing affordable and transparent care to the benefit of patients and employers alike."

James Nadauld, AMPS Board Chair stated, "The Board is excited to welcome Matt to the team. We are confident his growth-minded leadership will take AMPS and Drexi to the next level of their evolution in the months and years ahead."

"Matt shares our deep passion for improving healthcare, and I enthusiastically welcome his leadership," said Fallbacher. "To the exceptional teams at AMPS and Drexi, I cannot express enough how proud I am of all that we have achieved together over the years. I firmly believe that AMPS and Drexi are perfectly positioned for continued success."

About Matt
Matt Brow is Chief Executive Officer of Advanced Medical Pricing Solutions (AMPS). With extensive experience managing cross-functional teams, Matt has engaged internal and external healthcare stakeholders to find consensus and achieve stable business growth.

Prior to joining AMPS, Matt served as President & General Manager of Pharmacy, Life Sciences and Advisory at Inovalon, a leading provider of cloud-based solutions empowering data-driven healthcare. Matt joined Inovalon in November 2017 to lead its subsidiary Avalere Health and then expanded his role in 2019 to also lead Inovalon's Pharmacy software business which develops, markets, and supports the pharmacy operational and workflow software ScriptMed. While at Inovalon, Matt led the successful divestiture of its Avalere Health business.

Before joining Inovalon, Matt was Senior Vice President, Operations, for The US Oncology Network at McKesson Specialty Health, responsible for developing, planning, and directing the operations of The Network across a multi-state territory. Previously, he held roles at McKesson and its predecessor company, US Oncology, leading public policy, mergers and acquisitions, business development, go-to-market strategy, sales, reimbursement strategy, federal and state government relations, and communications. Prior to joining US Oncology, he was a consultant, advising clients on state government affairs strategy across a wide range of healthcare and political issues.

Matt holds a BA in History and Political Science from the University of Richmond. He lives in McLean, Virginia with his wife Lauren and their two children.

About Kirk 
Kirk Fallbacher brings more than 25 years of experience building teams and solutions serving the healthcare and health insurance industries.

Kirk has successfully grown multiple organizations / divisions from early-stage formation, focused on developing and launching new products, opening new market segments, and pure business growth, to preparation for scaling distribution and resultant enterprise value. He has overseen organic growth, combined with multiple acquisitions to establish flexible platforms with multiple products and services.

Kirk joined AMPS in 2016 as COO and shortly thereafter assumed the President and CEO role, during which time he grew the employee base nearly 10x; opened offices in Phoenix and Hyderabad, India; established AMPS as a leading vendor in the individual healthsharing segment; and completed multiple acquisitions, including Drexi, a pharmacy benefits manager and RX discount card provider.

Prior to AMPS, Kirk served in leadership roles at several technology and consulting firms, including: Netrix Global, ITR Mobility (acquired by Zebra Technologies), NVISIA, Swingtide, Alterian, Platinum Technology, Computer Associates, Novell and Ernst & Young.

Kirk holds a BS, computer science and mathematics degree from Western Illinois University.

About AMPS
AMPS provides market leading healthcare cost containment solutions serving self-funded employers, brokers, TPAs, health systems, health plans, and reinsurers. AMPS' mission is to help clients attain their goals of reducing medical and pharmacy costs while keeping members satisfied with quality healthcare benefits. AMPS leverages its 18+ years of experience and data in auditing and pricing medical claims to deliver "fair for all" pricing. AMPS offers detailed analytics and transparency to provide clients with insights based on plan performance. Learn more at www.amps.com.

About Cimarron Healthcare Capital
Cimarron Healthcare Capital is a healthcare-focused private equity firm based in Salt Lake City, UT. Cimarron is led by a unique combination of seasoned healthcare investors and operators. The firm partners with owners and operators in the healthcare lower middle-market to build enduring businesses that improve the healthcare system and drive value for all stakeholders.

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SOURCE AMPS