The board of Healthways has chosen one of its newest members to be its chairman after John Ballantine steps down from that role later this month as part of the company's armistice with activist investor North Tide Capital.
Donato Tramuto was elected to the Healthways board a year ago to take the place of longtime director Bill O'Neil. Tramuto, 57, is Chairman and CEO of Physicians Interactive Holdings, a Massachusetts-based marketer of online health care information and software and medication samples that is owned by the Global Health Innovation Fund. Before helping launch PIH in 2008, he was CEO of pharmaceutical services company i3.
"We are excited and proud to have Donato as our Board Chairman. As a leader and pioneer in healthcare technologies, with over 30 years working as a healthcare innovator, he has contributed valuable strategic insights to our Board over the last year," said Healthways President and CEO Ben Leedle. "We are now looking forward to his leadership of our Board as Healthways continues to provide our comprehensive well-being improvement solutions to health plans, health systems, physicians and employers around the world."
Shares of Healthways (Ticker: HWAY) closed Wednesday trading at $16.81, down about 1 percent on the day. Year to date, they're up about 10 percent.