Dallas-based Recuro Health, a member-focused virtual healthcare platform, has appointed Phil Fasano as chairman of the board and chief executive officer.
Founded in 2021 by telemedicine pioneer Michael Gorton, Recuro’s digital solutions are on track to serve 4 million members/patients in the U.S., having recently eclipsed 3.5 million.
In June, Gorton, the company’s founding CEO, transitioned to a strategic advisory role and passed the leadership reins to Fasano.
Gorton told Dallas Innovates he has confidence in Fasano’s ability to lead Recuro to the next level. “Phil has remarkable credentials,” he said.
Fasano’s previous roles at Recuro over the past year — as an independent board member and interim CEO before being officially appointed by the board in mid-July — give him a solid grasp of the company’s business, vision, and values.
With that wealth of knowledge and experience, Fasano is “uniquely positioned to lead Recuro Health into an exciting new phase of accelerated growth and innovation,” the company said in a news release
Michael Brombach, COO of Recuro Health, noted Fasano’s three-decade track record spanning healthcare, technology, and insurance. Brombach said the new chairman and CEO’s leadership and ability to scale businesses make him the “ideal choice to lead Recuro Health’s transformative trajectory in healthcare.”
Fasano sees the role as an “incredible opportunity” to lead a team that at the forefront of transforming virtual care delivery. “Together, we’ll continue to innovate and create personalized healthcare solutions that make a positive impact on people’s lives,” he said in a statement.
As CEO of Recuro Health, Fasano will play a key role in the “company’s strategic vision, enhancing its capabilities, and furthering its commitment to empowering individuals to take control of their health,” the company said.
Telehealth credentials
Before joining Recuro Health, Fasano was EVP and chief information officer at Kaiser Permanente, where he was pivotal in developing, scaling, and managing Kaiser’s first telehealth offering, reaching 14 million members.
Recuro said Fasano’s contributions significantly contributed to Kaiser’s revenue growth from $47 billion to $70 billion.
Fasano also has held executive roles at powerhouses like American International Group, AFG, Capital One, JP Morgan Chase, and Deutsche Bank, with leadership across startups to Fortune 500 firms.
Recuro board member Bob Zollars said Fasano’s “extensive experience and innovative approach” would bolster Recuro’s market standing. The company said he brings expertise in technology innovation, risk management, financial growth and oversight, corporate governance, cybersecurity, and digital transformation.
Tracy Chadwell, another board member, voiced “unwavering confidence” in Fasano’s ability to lead Recuro Health in an evolving telehealth landscape.
Looking ahead, founder Gorton and CEO Fasano are collaborating on a white paper focused on the next generation of virtual and preemptive care. It’s expected to be published in early September 2023, Gorton said.
Virtual health expansion ahead
Recuro secured $47 million in Series B funding earlier this year, directing funds from the round towards scaling and advancing Recuro’s Digital Medical Home.
Lead investor ARCH Venture Partners is known for investing in and co-founding advanced technology companies organized around innovations from research universities, corporate research groups, national laboratories, and entrepreneurs. After launching in 2021, Recuro Health closed a $15 million Series A round, also led by ARCH.
In April, Robert Nelsen, co-founder and managing director of the VC firm said Recuro is “proving to be the best of breed in the intersection of science, diagnostics, and digital health.”
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The Coppell-based startup said it will use the proceeds to advance and scale its Digital Medical Home, which includes diagnostic-enabled Virtual Primary Care and Virtual Behavioral Health Solutions tailored to fit the healthcare needs of any population. Recuro integrates advanced science, data, at-home diagnostics, and targeted genomics for cancer screening and pharmacogenomics "to better inform integrated care," the company says.
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