With expanded leadership team, drug discount management company lays groundwork for aggressive growth
Data infrastructure and analytics company Kalderos, creator of the world’s first Drug Discount Management platform, today announced the hiring of two senior executives with impressive track records of innovation and business growth.
Jim Sparks joins Kalderos as chief financial officer, while Sudhakar Velamoor has been named chief technology officer. Both are new executive roles at Kalderos, as the company positions itself as the market leader in drug discount management for pharmaceuticals and other stakeholders.
Pharmaceutical companies already pay more than $250 billion annually in discounts and rebates, and 2022’s Inflation Reduction Act mandates even more pricing concessions. With yet more cost and complexity ahead, drug discount management represents a vast market in need of tech-enabled infrastructure.
Kalderos has built a platform that uses transparent data to bring drug discount stakeholders together, enabling drug discounts to be paid more accurately and efficiently. Since 2016, the company has already identified more than $1 billion in inaccurate discount requests, with new pharma companies onboarded to the platform all the time.
“With the addition of these remarkably talented leaders, Kalderos further enhances our ability to build on our rapid growth trajectory and deliver transformational solutions that can bring new transparency to the world of drug discount management,” said Kalderos CEO Angie Franks. “Jim Sparks brings decades of financial expertise and decision-making to the company, while Sudhakar Velamoor has a successful record of engineering and software product development leadership. We look forward to building on this momentum and adding even more great talent to the team in the near future.”
Jim Sparks, chief financial officer
With more than 20 years of experience in corporate finance, Sparks comes to Kalderos from Growth Operators, a provider of finance, accounting, and human resources services, where he served as partner and chief financial officer. While at Growth Operators, he assessed and aligned people, process, and tools to scale portfolio companies for growth and exit scenarios. His efforts resulted in up-round institutional fund raises, mergers, and successful exits.
Sparks has an MBA from Yale School of Management and a BA in German and History from the University of Wisconsin, Madison. He also is a board member of Think Small, a nonprofit in Saint Paul, Minn., whose mission is to advance quality care and education of children in their early years.
Sudhakar Velamoor, chief technology officer
Velamoor is a proven engineering and product development leader who brings over 20 years of expertise driving complex enterprise SaaS software and AI solutions, with a focus on highly regulated industries like healthcare and financial services. As head of engineering at COTA, he created and executed technology roadmaps for real world data and analytics products and platforms, enabled new products that drove significant revenue growth (80% year-over-year), and improved speed and efficiency through automation.
With deep knowledge in cloud-native development, machine learning applications, and building scalable architectures, Velamoor is a strategic thinker and accomplished problem solver. He holds a B.S. in Mechanical Engineering from Indian Institute of Technology, Madras, India, and a CTO Program certificate from Wharton School of Business / University of Pennsylvania, Philadelphia. As CTO, he will leverage his deep technical skills and leadership abilities to drive the next phase of growth.
Continued investment in cybersecurity
Kalderos also promoted Jim Hundemer from vice president of information security and compliance to become the company’s first chief information security officer. The expanded role speaks to Kalderos’ commitment to maintaining best-in-class standards for information security as the company scales. One of the first dozen employees at Kalderos, Hundemer’s specialties include corporate cyber risk and incident management, regulatory compliance auditing, vendor supply chain risk management, audit program and strategy, customer and internal audit facilitation and HIPAA risk assessment facilitation.
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