November 28, 2014 8:22 PM ET

Healthcare Providers and Services

Company Overview of FidelisSecureCare Inc.

Company Overview

FidelisSecureCare Inc. develops Medicare advantage prescription drug plans and special needs plans for eligible individuals. The company provides specialized plans to care for individuals who live in their own homes, nursing homes, and assisted living communities. It contracts with the federal government under the Medicare advantage program to provide Medicare benefits plus added benefits specifically designed for eligible individuals. The company was founded in 2004 and is based in Schaumburg, Illinois.

20 North Martingale Road

Suite 180

Schaumburg, IL 60173

United States

Founded in 2004

Phone:

847-605-0501

Fax:

847-517-1085

Key Executives for FidelisSecureCare Inc.

Chief Executive Officer and President
Age: 47
Founder and Chairman
Chief Financial Officer and Executive Vice President
President of Fidelis SecureCare - Texas
President of Fidelis SecureCare for North Carolina
Compensation as of Fiscal Year 2014.

FidelisSecureCare Inc. Key Developments

Fidelis SeniorCare Announces Changes in Management Team

Fidelis SeniorCare reported the appointment of former WellCare Health Plans chief Alec Cunningham as its new President and Chief Executive Officer. Sam Willcoxon, Founder and former Chief Executive Officer, will remain with the company and assume the role of Chairman. Cunningham is a former WellCare Chief Executive Officer. Prior to WellCare, Cunningham served as Vice President of Business Development and Compliance at WellPoint Health Networks. He also worked for the Oklahoma Health Care Authority.

Fidelis SeniorCare Announces Management Changes

Fidelis SeniorCare, Inc. announced the appointment of former WellCare Health Plans chief Alec Cunningham as their new President and Chief Executive Officer. Sam Willcoxon, Founder and former Chief Executive Officer, will remain with the company and assume the role of Chairman. Cunningham, who will direct Fidelis' growth in the rapidly expanding field of health care delivery to dual eligible frail and elderly populations, including those covered by emerging CMS Dual Demonstration Projects, is the former WellCare Chief Executive Officer who led that company into and through a sustained period of record profitability. Alec Cunningham, with over 20 years of experience in Medicaid and Medicare HMO program development and management, is an experienced and well-recognized leader in the insurance and managed care industries. Prior to Fidelis, Cunningham held a variety of leadership and business development roles of increasing responsibility at WellCare Health Plans, culminating in his promotion to Chief Executive Officer of one of the country's leading Medicaid and Medicare Plans.

Deerfield Management Company Enters into Secured Loan Facility with Fidelis SeniorCare, Inc

Deerfield Management Company announced that it has entered into a secured loan facility with Fidelis SeniorCare Inc. for up to $50.0 million in financing. The facility provides Fidelis with working capital to expand its delivery of expert clinical care and care coordination for eligible Medicare beneficiaries with complex chronic conditions. The financing was structured to help Fidelis prepare for the roll-out of this program, as well as to provide potential funding to launch new coverage for similar populations in other markets. Under the terms of the facility, Deerfield funded $25 million upon execution of the facility agreement and committed to advance up to another $25 million prior to March 15, 2015, upon the company's request and provided that specified conditions of disbursement are met. The loan matures in five years and accrues interest at 10.75% per annum.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
December 26, 2013
--
Merger/Acquisition
December 18, 2013
Fidelis SecureCare of Michigan, Inc.
 

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