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February 13, 2018 12:00 AM

Former Anthem CEO Swedish joins Proteus Digital Health board of directors

Rachel Z. Arndt
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    Joseph Swedish has joined the board of directors of Proteus Digital Health, maker of a system and sensors for digitally trackable pills.

    Proteus has raised about $400 million. Swedish will be on the board during a period of growth at the company, as it works to gain "more patients, more products, and more partners," said Proteus CEO and co-founder Andrew Thompson. "We will develop and build more products ourselves and with partners, which means we'll have more pharmaceutical companies embracing this idea."

    Thompson tapped Swedish for the board post in part because of his deep experience in healthcare. Swedish has spent decades in the industry. Recently, from 2013 to 2017, he was CEO of Anthem. He remains executive chairman of the health insurer, the nation's second largest. He'll retire from the post in May 2018, though he'll stay on as a senior adviser until May 2020.

    "Proteus can do for medicine what Amazon did for digital retail and what Tesla is doing for the auto industry," Swedish said. "Proteus has the potential to have that kind of impact in the pharmaceutical administration industry. I'm not one to exaggerate."

    Proteus sensors are used in Abilify Mycite, the first FDA-approved digital pill. The sensors are part of a drug-tracking system, Proteus Discover, that also includes a wearable sensor patch, a mobile app, and a provider portal. When a patient takes a pill, stomach acid initiates the sensor, which signals via Bluetooth to the patch that it's been activated.

    Estimates put the cost of medication noncompliance at almost $300 billion annually. "If Proteus can put a dent in that, it's going to significantly improve the outcomes associated with administering medications," Swedish said. "As a former payer, what excites me is that it has the clear potential to be a driver and have great influence on the creation of value-based payer contracts that can be verifiable."

    Before joining Anthem, Swedish was CEO of Livonia, Mich.-based Catholic hospital system Trinity Health. Swedish currently serves on the boards of IBM and IT products and services company CDW.

    "He has a deep understanding of what it's like to deliver care and what it's like to pay for it," Thompson said. "He is one of the most influential and capable people you could possibly wish for on a board."

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      • Current News
      • Providers
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      • Safety & Quality
      • Transformation
        • Patients
        • Operations
        • Care Delivery
        • Payment
      • People
      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Unwell in America
    • Opinion
      • Bold Moves
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      • Letters
      • Vital Signs Blog
      • From the Editor
    • Events & Awards
      • Awards
        • Nominate/Eligibility
        • 100 Most Influential People
        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top 25 Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Video Series - The Check Up
      • Sponsored Video Series - One on One
    • Data Center
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      • Hospital Financials
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