COLLINSVILLE, CONN., September 1, 2020 – Ernst & Young LLP (EY US) has announced that Goodroot Chairman Mike Waterbury was named an Entrepreneur Of The Year® 2020 New York Award finalist. Now in its 34th year, the Entrepreneur Of The Year program honors entrepreneurial business leaders whose ambitions deliver innovation, growth, and prosperity as they build and sustain successful businesses that transform our world. Mike was selected as one of the finalists by a panel of independent judges comprising former winners and business leaders from multiple industries.
“Reinventing the healthcare system to provide better affordability and accessibility is rewarding work, but it’s also daunting,” Mike says. “Changing an industry, especially one as entrenched as healthcare, is a big thing and we’re only just beginning. My hope is that this recognition of what we’ve accomplished so far will help attract additional talented people and visionary companies to work with us toward a healthcare system free from waste and inefficiency.”
When RemedyOne, the first company established that’s now a part of the Goodroot family of affiliates, was founded in 2015, Mike Waterbury set an ambitious goal of eliminating $30 million in wasteful drug spend within 5 years. With $800 million in consumer healthcare savings to date, Goodroot is now eyeing a new goal: $30 billion in healthcare savings by 2025. Relationships with Fortune 100 employers, all of the major US pharmaceutical companies, and healthcare organizations across the country position Mike and his team to make this a reality.
“I first got to know Mike and the Goodroot team as a strategic advisor while I was working for an outside firm, and it was immediately apparent that the business was truly exceptional,” says Goodroot CFO Jim Harper. “Mike has succeeded not only in reimagining complex healthcare systems, but he also created a workplace that encourages innovation and creativity while unlocking personal potential.”
Mike is one of only two Entrepreneur Of The Year® 2020 New York Award Finalists representing Connecticut-based companies and the only one from the Hartford area. Entrepreneur Of The Year is one of the preeminent competitive award programs for entrepreneurs and leaders of high-growth companies. The nominees are evaluated based on six criteria, including overcoming adversity; financial performance; societal impact; commitment to building a values-based company; innovation; and talent management. Since its launch, the program has expanded to recognize business leaders in more than 145 cities in over 60 countries around the world. ey.com/us/eoy
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are nationally sponsored by SAP America and the Kauffman Foundation.
In the New York region, sponsors also include Donnelley Financial Services, Marsh, Empire Valuation, DLA Piper, and Morgan Lewis.
About Goodroot
Goodroot is committed to freeing and amplifying the value and talent trapped within the healthcare system. It is a group of companies run by people with uncommon insight, ambition, and grit, committed to increasing accessibility and affordability of healthcare in the United States. Goodroot affiliate companies are engaged in reshaping many aspects of healthcare including pharmaceutical programs, payment systems, drug pricing, and more. RemedyOne, the first Goodroot affiliate, advises pharmacy benefit managers, employer groups, health plans, and third-party administrators, and currently manages over $1 billion in annual wholesale acquisition cost (WAC) pharmaceutical spend for its clients. Goodroot welcomes collaborations with organizations and individuals rethinking the status quo, disrupting complacent performance and fixing our broken, inefficient healthcare system. Visit goodrootinc.com
About EY Private
As Advisors to the ambitious™, EY Private professionals possess the experience and passion to support private businesses and their owners in unlocking the full potential of their ambitions. EY Private teams offer distinct insights born from the long EY history of working with business owners and entrepreneurs. These teams support the full spectrum of private enterprises including private capital managers and investors and the portfolio businesses they fund, business owners, family businesses, family offices, and entrepreneurs. Visit ey.com/private
About EY
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