Richard Toren
CodeRyte
Mr. Toren serves President and Chairman of the Board of CodeRyte, Inc. Prior to joining CodeRyte, Mr. Toren founded a physician practice management firm (Promedco, Inc.) in 1983 that was sold to Vivra Specialty Partners in 1996. Following this acquisition, he served for two years as president of Vivra Heart Services (VHS). VHS acquired cardiology practices, provided management services and received specialty capitated contracts from payers to deliver care through a network model. VHS had more than 400 employees and 65 physicians when Mr. Toren left to join CodeRyte. He also spent two years running a pharmacovigilance data firm, which a venture firm aimed to turn around. While managing physician practices, Mr. Toren purchased LabCorp, a clinical laboratory located in Pennsylvania, for $1.3 million and then successfully sold the company for $6.4 million to National HealthLabs, the largest clinical laboratory company in the country. From 1970 to 1983, Mr. Toren was vice president of marketing and sales for Survival Technology Inc., an R&D technology company that commercialized products and sold royalty rights to medical device companies. While there, Mr. Toren invented the EpiPen, as well as several other valuable products. Survival Technology’s royalty revenues grew from zero to $25 million in 10 years. Mr. Toren assisted the American College of Cardiology with HCFA in rulemaking for reimbursement of overhead costs associated with operating a physician practice. He also served as vice-chairman of the American Heart Association Nation’s Capital Affiliate and president of the Ronald McDonald House. Mr. Toren currently serves on the board of the American Heart Association for Greater Washington, D.C. and on its parent board, the Mid-Atlantic Affiliate, as well as for Christiana Care Health in Wilmington, Del. In his spare time, he enjoys lecturing about entrepreneurship in local high schools, Georgetown and American Universities. Mr. Toren received his undergraduate degree at Pennsylvania State University and attended the Loyola Graduate School of Business MBA program for two years.