Gould and Lamb replaces CEO
Industry sources report that Gould and Lamb CEO John Williams has been replaced at the request of private equity owners ABRY Partners. Apparently, their $180MM investment is not performing as expected and a change in leadership was needed.
Industry speculation is that Gould and Lamb’s Section 111 solution cost more than expected and has not brought in the revenue used to justify its expense.
John had a pretty good run as CEO and probably benefited financially with the HIG sale to ABRY. But don’t expect to see him in the MSA business anytime soon. G&L has the toughest non-competes in the business and never hesitates to sue former employees that violate the contract.
Here is the official anouncement from Gould and Lamb:
“BRADENTON, FL (July 30, 2010) – Gould & Lamb, LLC (“Gould & Lamb” or the “Company”), a leading provider of cost-containment solutions to the workers’ compensation and liability insurance industry, today announced the promotion of Deborah Pfeifle, MSN, RN, CCM, CRRN, CLCP and MSCC, to President and Chief Operating Officer, replacing John Williams.
John Williams has made a significant contribution to Gould and Lamb and the industry as a whole. John has been highly successful both professionally and personally and we respect his decision to step down from the role of Chief Executive Officer (CEO). John continues to be part of the Gould & Lamb organization as a fiduciary partner
Ms. Pfeifle, formerly the Vice President of Clinical Services at the Company, brings a wealth of insurance related medical and cost projection experience, liability life care planning and operations management to her new role. Ms. Pfeifle will be focused on further enhancing the Company’s advanced technology and expert multi-disciplinary approach to enable Gould & Lamb to continue to offer the highest quality and most defensible Medicare Set Aside (MSA) and single source Medicare Secondary Payer (MSP) compliance services available in the marketplace. Her dedication to customer service and quality are paramount to the Company’s operations.
“We are very pleased to partner with such a dedicated and highly-experienced industry executive and we look forward to working closely with Deborah to both grow Gould & Lamb’s business and to exceed the service expectations of our customers,” commented Rob MacInnis, Partner, ABRY Partners, Gould & Lamb’s majority shareholder.
This change in leadership marks a new direction for Gould & Lamb in product innovations and customer service. The MMSEA Section 111 Reporting solution that was pioneered by Gould & Lamb is the basis for this new direction. Gould & Lamb’s place as the nation’s leading provider of MSP compliance and MMSEA services is secure.
Gould & Lamb will continue to engage in professional organizations which promote the interests of our clients, advocating on their behalf, while protecting Medicare’s interests within the scope of the MSP statute. Gould & Lamb’s strategic vision for the future, under Ms. Pfeifle, is focused on quality and customer satisfaction.”