The man credited with the creation of Intergroup Healthcare Corp. has resigned as president and chief executive officer after 16 years with the company.
Rick Barrett, 47, said Tuesday that he will work part time as a consultant for Intergroup's new parent company, Foundation Health.The $720 million sale of Intergroup to Foundation Health closed in November.
Foundation Health will replace Barrett with Edward J. Munno Jr., the senior vice president and chief marketing officer for Foundation Health.
In 1979, Barrett started Professional Health Services along with two other employees. It eventually became Intergroup and he was named the company's president in 1986.
Intergroup provides health care coverage to approximately 512,000 people in Arizona, Utah, New Mexico, Colorado, Nevada and Nebraska.