Length of Service: January 13, 2017 - present
Term Expires: January 13, 2021
Nitin Sahney is a 23-year healthcare executive with an ability of leading companies through transformational or growth stages to optimize strategic value as demonstrated by the two strategic sales of healthcare companies he led during a ten-year period. A successful entrepreneur and operations-driven leader, Mr. Sahney possesses significant strategic, management and tactical experience that has translated into companies achieving market-exceeding returns.
Most recently, Mr. Sahney served as President & CEO of Omnicare, a former Fortune 500 leader in the long-term care and specialty care industries. In this capacity, Mr. Sahney led several key initiatives for this pharmacy services company, including the implementation of a new drug sourcing strategy and the launch of a business process outsourcing plan, both of which contributed to nearly 13 percent growth in annual adjusted operating income and a 77 percent increase in operating cash flows. Moreover, through a transformation of Omnicare's operations and a strategic repositioning, Mr. Sahney led the company to a 49 percent total shareholder return (compared to a 9 percent return for the S&P 500) during his tenure as CEO that consummated in the $12.7 billion sale to CVS Health in August of 2015. In recognition for his significant returns while leading Omnicare, Mr. Sahney was named to Fortune’s list of “The best performing rookie CEOs of the Fortune 500”.
Prior to being appointed President and CEO, Mr. Sahney held roles of increasing responsibility with Omnicare. Beginning in 2010, he led the design and formation of Omnicare's Specialty Care Group (SCG) from five separate business entities into one cohesive operating segment through a focus on growth, operational excellence and accountability. Mr. Sahney realized immediate results for SCG with the newly formed group generating double-digit year-over-year revenue growth every quarter under his leadership until his role expanded in 2012 to also include full operational accountability for Omnicare's Long-Term Care Group. By the end of 2013, Mr. Sahney had established and implemented a multi-phased operating plan to increase sales, improve retention and create greater operating efficiencies in the Long-Term Care Group, culminating in the company's first full year of net organic customer growth in over ten years.
Mr. Sahney also has a history of leading healthcare services companies from conception to rapid growth. As the founder of RxCrossroads, Mr. Sahney transformed a start-up into one of the nation's fastest growing specialty pharmaceutical services while serving as companies that he ultimately leveraged into a $240 million sale of the company in 2005, four years following its formation. Prior to founding RxCrossroads, he held a variety of leadership positions with Cardinal Health with responsibility for patient services businesses and corporate business development. From 2008 to 2010, Mr. Sahney managed a personal healthcare investment fund. Additionally, he utilized his industry leadership and experience driving successful turnarounds to work closely with large healthcare organizations and private equity firms in a strategic advisory capacity.
Mr. Sahney graduated with a Bachelor of Arts in Economics from Punjab University and a Master of Business Administration from Clarion University.