PayFlex appoints new CEO
Omaha, Neb., April 29, 2009 -- PayFlex Systems USA, Inc., ("PayFlex") a leading administrator for employee benefit programs, today announced that Robert L. ("Bob") Natt has been named Chief Executive Officer of PayFlex Holdings, Inc. Most recently, Natt was President and CEO of MBI Benefits, the leading provider of debit cards for benefit spending accounts. In 2006, after selling MBI to Metavante, Natt joined the Board of Directors of PayFlex. Prior to MBI, Natt spent 13 years at Physicians Health Services holding senior level executive positions including CEO, where he was responsible for growing the company from an early stage, non-profit HMO to one of the largest managed care organizations in the New York City market before selling the company to Health Net. Natt also served as Executive Vice President of Oxford Health Plans as well as President and CEO of HealthAmerica of Philadelphia.
"I am thrilled to have Bob take this role," said Mark Huber, Founder and Chairman of the Board of Directors of PayFlex. "As the Stimulus Package and healthcare reform initiatives begin to come to the forefront, it is evident that we have a unique opportunity to enhance our market leadership position. Appointing Rob Butler as president this past February and now getting Bob as CEO gives us a market edge in leadership, experience and depth that will help us capitalize on an evolving marketplace." Butler, an experienced and proven health care marketing executive who teamed with Natt at MBI as the Chief Revenue Officer was named president of PayFlex in February.
"The timing of this is perfect for both the PayFlex organization and our clients," said Natt. "We have already established ourselves as an industry-leading benefits administrator and our clients look to us to introduce innovative new products and services. As the administration in Washington unveils new healthcare policies, there will be opportunities to develop new services and programs that will create opportunities for PayFlex to extend its market leadership position. It is great to once again be teamed with Rob Butler as Rob is a well-known and highly respected executive in the healthcare benefits industry and will be an excellent ambassador to our customers."
"As we evaluated the emerging market dynamics, it became evident that landing an experienced healthcare veteran like Bob Natt would be invaluable in helping us capitalize on future growth opportunities," said Annie Lamont, managing director of Oak Investment Capital Partners and PayFlex board member. "Bob's stellar reputation and impeccable track record gives us world class leadership to guide PayFlex through a rapidly changing and complex healthcare environment."
PayFlex (www.payflex.com ) is a leading nationwide provider of administration for employer benefit programs with 20 years of experience. PayFlex provides a broad range of services to several thousand employers including many Fortune 500 companies that employ several millions of employees. PayFlex services include FSA, HRA, HSA, Commuter, Dependent Care, along with COBRA and Retirement reimbursement. PayFlex was recently named in the Inc 5000 fastest growing companies for the second straight year and sixth time recipient of the Omaha 25 Excellence in Business Award. PayFlex is headquartered in Omaha, NE. For more information; please call Megan Denker, Marketing Manager, at (402) 231-8686.
Source: Company press release.