Gregory E. Deavens, the president and CEO of Independence Health Group, the parent company of Independence Blue Cross, will retire at the end of 2025, according to a press release from the company.
“After eight incredible years with Independence — the last four as President and CEO — this is the right time for me and the company to initiate a leadership transition," Deavens said in a statement. "I have achieved a great deal in my career and am looking forward to my next chapter. As Independence builds out its strategy for the next five years, I felt it was best to have a CEO in place who’d be executing that plan.”
Deavens became CEO in January, 2021, replacing Dan Hilferty, who is now CEO of Comcast Spectacor, the company that owns the Philadelphia Flyers and the Wells Fargo Center.
He joined the organization as the Chief Financial Officer and Treasurer in January 2017 before ascending to the CEO role.
Gregory E. Deavens, President/CEO Independence Health Group
It was also announced Wednesday, that Deavens and the Board of Directors have appointed Dr. Richard L. Snyder, Executive Vice President of Health Services at Independence, to the position of Chief Operating Officer (COO).
“A special committee of the Board has been formed to conduct a national search for Greg’s successor," said Charles Pizzi, Chairman of the Independence Health Group Board of Directors. "In his new role as COO, Rich will aid in the leadership transition and ensure our continued focus on members, customers, and providers.”
During Deavens’ tenure as CEO, Independence has experienced consolidated revenue growth from $21.8 billion at the end of 2020 to over $31 billion. The company, through its subsidiaries, covers members across the country and has over 14,000 employees.
Deavens stewarded the company through the COVID-19 pandemic, a technology platform transformation, a major expansion of behavioral health access, and a drive to improve health outcomes for all members.
Under Deavens’ leadership, Independence Blue Cross convened the Regional Coalition to Eliminate Race-Based Medicine with health systems in the region leading to the successful transitioning away from race adjustments in clinical tools, resulting in more patients being added to kidney transplant lists and receiving transplants.
Additionally, Deavens emphasized working with diverse and disadvantaged suppliers to drive inclusive economic growth in the businesses and the communities served by Independence.
“We appreciate Greg’s steady leadership during an incredibly dynamic time in the health care industry,” Pizzi said. “Under his direction, the company experienced significant revenue growth while deploying new initiatives and implementing important changes that will enable us to compete effectively well into the future. Greg’s unwavering commitment to the communities we serve is reflected by the high regard and stature he receives locally and nationally.”
Deavens is and will remain Chairman of the AmeriHealth Caritas Board of Directors through 2025. AmeriHealth Caritas is a nationally recognized Medicaid managed care company that is jointly owned by Independence and Blue Cross Blue Shield of Michigan (BCBSM).
He also serves as Chairman of the Board of the Chamber of Commerce for Greater Philadelphia. He is a member of the boards for Alegeus Technologies, America’s Health Insurance Plans, BCS Financial Corporation, the Blue Cross Blue Shield Association, National Institute for Health Care Management, the African American Museum in Philadelphia, and the Barnes Foundation.
“It has been an honor for me to serve a company that is incredibly committed to making health care more accessible, affordable, and equitable for all in the communities that we serve," Deavens said. "I have been passionate about ensuring that we have the right talent to lead the company into the future and advancing our brand and reputation as a health care leader nationally. Our company has exceptional capabilities and a dedicated workforce that position it well for future success.
"I will forever cherish my experience at Independence, and the committed colleagues and friends that I have had the pleasure to work with in addressing the health care needs of our members and communities.”
Deavens was recognized by Modern Healthcare multiple times as one of the 100 most influential people in health care and for Excellence in Governance; and by Savoy Magazine as one the Most Influential Black Executives in America.
