Name: Ned McCoy
Previous title: Chief operating officer of nonprofit generic pharmaceutical company Civica
New title: President and chief executive officer, Civica
Civica, which was founded in 2018 by a group of hospitals to lower pharmaceutical prices, has tapped McCoy to serve as its new president and chief executive officer, effective June 1.
McCoy is succeeding Martin VanTrieste, who is retiring but will stay on as an adviser to the company and will remain on its board. McCoy will also join Civica's board as part of the transition.
VanTrieste came out of retirement four years ago to helm Civica's launch.
Dan Liljenquist, chairman of the board of directors of Civica and chief strategy officer for health system Intermountain, thanked VanTrieste in a statement Tuesday for leading Civica as its first-ever CEO, and said he's "thrilled" McCoy is taking the role.
McCoy has been with Civica since its founding. As COO, McCoy oversaw Civica's manufacturing efforts, including the build of Civica's medicines manufacturing facility in Virginia that's expected to be operational in early 2024. He also led efforts to secure manufacturing partnerships for more than 60 sterile injectable medications, with the goal of addressing chronic drug shortages and price pressures on hospitals.
Prior to joining Civica, McCoy worked at medical devicemaker Abbott for more than three decades on hospital and pharmaceutical products, nutrition and corporate M&A.
Civica is governed by more than 55 health systems, including HCA, CommonSpirit and Kaiser.