SAN FRANCISCO, Jan. 9, 2020 /PRNewswire/ — Castlight Health, Inc. (NYSE: CSLT) today announced the hiring of Keith Reynolds as its new chief commercial officer. Mr. Reynolds brings more than two decades of large employer and health plan sales experience to Castlight, serving most recently as vice president of health plans and market strategy at CVS Health.
“My top three priorities since becoming CEO were developing a deeper partnership with Anthem in the form of an extended enterprise license agreement, launching our Care Guides high-touch solution, and elevating our commercial leadership. With the addition of Keith, we are executing well against our most critical goals,” said Maeve O’Meara, chief executive officer of Castlight Health. “Keith has the experience and track record to help us grow our core employer business and unlock new opportunities with health plans and other partners.”
Today’s announcement further enhances Castlight’s executive team, building on recent hires of healthcare operations leader Helen Kotchoubey as chief operating officer and digital health and health plan business development leader Matt Moran as senior vice president, corporate development. Mr. Reynolds is responsible for the Company’s sales and customer experience functions, reporting to Chief Executive Officer Maeve O’Meara.
“I am excited to join the Castlight family and believe we have a great opportunity to leverage our differentiated platform and help solve the health navigation challenges faced by employers, health plans and their respective employees and members,” said Keith Reynolds, chief commercial officer of Castlight Health. “I believe my experience as a healthcare industry sales leader is a great fit with Castlight’s commercial needs, and I’m looking forward to helping Castlight simplify healthcare to the benefit of all of its stakeholders.”
Full Year 2019 Guidance Reiterated
Castlight also announced today that it is reiterating the full year 2019 guidance it provided in its third quarter 2019 financial results press release dated October 24, 2019. Additionally, the Company expects annualized recurring revenue1 (ARR) as of December 31, 2019 to exceed the $140 million to $145 million range discussed on its third quarter 2019 financial results conference call on October 24, 2019. These estimates are preliminary in nature and subject to customary year-end closing processes. Castlight anticipates releasing its final fourth quarter and full year 2019 financial results in late February 2020. At that time, the Company expects to offer preliminary guidance for full year 2020.