Oscar Health named Mark Bertolini as CEO

Oscar Health Inc on Tuesday named former Aetna head Mark Bertolini as its new chief executive officer as part of the health insurer’s push to turn a profit in 2024, sending its shares up more than 67%.

Bertolini, who sold Aetna to CVS Health Corp in 2018 for $69 billion, will replace Mario Schlosser as the CEO of Oscar Health next month.

Alphabet Inc-backed Oscar Health also runs a telehealth platform to help patients schedule physician visits, check lab results, make emergency virtual appointments and refill prescriptions through its mobile app and online platform.

Schlosser, who co-founded Oscar Health in 2012 with Joshua Kushner, will now report to Bertolini as the new president of technology.

The main focus is to “deliver on our profitability in 2023 for the insurance company, and for the whole company in 2024”, Bertolini told Reuters.

Oscar Health’s shares were trading at $6. Reueters