From layoffs of some 40 percent of its work force in January to the launching of new venture now …
In the latest series of changes at robotics and pharmaceutical management solutions Parata Systems, the Durham firm is spinning off a new venture. It will be led by Parata’s CEO.
A new top executive is named at Parata.
D.J. Dougherty is the new chief executive at Parata, taking that job effective March 31.
Parata’s new venture, HAP Innovations, will be led by former Parata CEO Tom Rhoades. Rhoades had been named CEO in 2010 following the departure of the company’s founders. He first joined the company in 2003.
“Parata is in its strongest financial position since inception and anticipates the trend to continue with a record-setting performance in 2015.”
Dougherty has been Parata’s chief financial officer for the past four years.
HAP Innovations, LLC will focus on consumer healthcare and have a “strategic alliance” with Parata, the parent firm said. , a consumer health care technology company that has a strategic alliance with Parata. The firm is backed financially by an angel investor who also is invested in Parata.
“DJ is a natural choice for this role,” said Nancy Thomason on behalf of Parata’s board of directors in making the announcement. “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.”
The 14-year-old company is “in its strongest financial position ever and on track to see its healthiest year in the history of the company,” Doughterty said. “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.”
HAP’s focus is to be delivery of consumer products and services designed to boost medication adherence.
“We will offer products and services to help high-risk patients better connect with the care community,” said Rhoads in the announcement. “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 systems are used by more than 12,000 pharmacies and have delivered more than 2.5 billion perscriptions.