Parata said Friday that Dougherty, the company’s chief financial officer since 2010, took the reins as CEO effective March 31.
“Parata is in its strongest financial position ever and on track to see its healthiest year in the history of the company,” Dougherty said in a statement. “I’m honored to serve as Parata’s CEO as we enter our 14th year of serving pharmacies. We’re bringing renewed energy and focus to industry challenges and will continue to deliver tools and solutions that impact pharmacies’ bottom lines.”
Dougherty joined Parata in 2003 and has been key in business development and strategy initiatives that have spurred growth, the company said.
“DJ is a natural choice for this role,” stated Nancy Thomason, representing Parata’s board of directors. “He is a bold strategist with more than a dozen years of leadership experience at the company. Tom and DJ worked closely together during Tom’s tenure to build a financially strong and strategically focused organization. We look forward to continued innovation, strategic growth and financial success under the direction of DJ and the Parata leadership team.”
Rhoads had served as Parata’s CEO since 2010. Durham, N.C.-based HAP Innovations, funded by the same angel investor that backed Parata 14 years ago, will deliver consumer products and services to support medication adherence so people can live healthier and remain at home, Parata reported.
“We will offer products and services to help high-risk patients better connect with the care community,” Rhoads stated. “When we make it easier for people to self-manage their medications and remain in their homes, ultimately we contribute to a lower overall cost of care.”
Parata noted that it has a strategic alliance with HAP Innovations.
“HAP Innovations provides a needed incubator for consumer products centered on patients and their caregivers, many reflecting the service demands of Parata’s key customers,” Thomason added. “We’re excited to have Tom leading this venture to focus on growing health care consumerism.”