LOS ANGELES--(BUSINESS WIRE)--Seoul Medical Group (SMG), one of the country’s leading physician-run Independent Physician Associations, today announced the appointment of Myong Lee as its new Chief Executive Officer following an extensive search process. A seasoned veteran with over 17 years in the healthcare industry, Myong brings extensive knowledge and experience positioning companies for their next stage of growth. As the former CEO and co-founder of Clever Care, he recognizes the need for culturally sensitive care. His dedication to health equity was instrumental in growing Clever Care to a leading Medicare Advantage health plan, with 112% y/y growth as of 1/1/24.
“We are pleased and excited to be able to have Myong Lee at the helm who aligns with our vision and values to better serve and empower the needs of physicians and their patients,” said Dr. Richard Park, Executive Chairperson of the SMG board and co-founder of private equity group Ascend Partners. “Myong has the long-term vision and cultural understanding necessary to lead the transformation of SMG with innovation, compassion and care.”
Like Dr. Park, Myong is a son of first-generation immigrants from South Korea who witnessed the challenges his parents faced navigating the healthcare system with limited English proficiency. “I founded Clever Care with a culturally customized approach, because nothing should ever get in the way of receiving the quality healthcare that we all deserve,” said Myong. “I will bring that same tenacity and commitment to SMG, advocating for physicians and their patients, armed with a vision for advancements and growth to better support our underserved communities.”
Myong is well suited for this task. In addition to Clever Care, he has assisted some of the most innovative companies in healthcare, such as agilon health and Clover Health, with building and scaling their businesses. In addition, he has advised many VC and PE fund portfolio companies on charting their path for growth and implementing value-based care.
About SMG:
Seoul Medical Group (SMG) is a national network of independent community physicians who share a vision of improving the health and well-being of patients. Their network of Primary Care Physicians and Specialist Providers promote patient wellness while coordinating comprehensive care. Founded in 1993, Seoul Medical Group is one of the country’s leading physician-run IPAs with 4,800 primary care and specialist physicians dedicated to helping patients with both clinical and non-clinical healthcare services. Visit SeoulMedicalGroup.com to learn more.
About Ascend Partners:
Ascend Partners is a growth-oriented, healthcare-focused private equity partnership whose mission is to build thriving communities by investing in companies and entrepreneurs who are improving healthcare access, affordability and quality for vulnerable and underserved populations. Founded in 2019, Ascend is led by co-founders In Seon Hwang, former global head of Healthcare at Warburg Pincus and member of the Executive Management Group, and Dr. Richard Park, founder and former CEO of CityMD, a leading patient-centric healthcare services company in New York and New Jersey. For more information, please visit www.ascendpartners.com.
