Kevin M. Nagle (born September 15, 1954) is an American businessman, investor, and philanthropist who was the co-founder and chief executive officer of EnvisionRx, a health care and pharmacy benefit management (PBM) company, from October 2001 to March 2014. He is the chairman and CEO of Sacramento Republic FC, a USL Championship club seeking to join Major League Soccer (MLS), and an investor in the Sacramento Kings of the National Basketball Association (NBA). On June 22, 2023 he acquired ownership of English football club Huddersfield Town A.F.C.
Early life and education
Nagle was born in Moorhead, Minnesota, raised by a single mother in Long Beach, California, along with his two older sisters. His family spent most of his early life in borderline poverty conditions, barely able to pay for basic living expenses. Nagle’s entrepreneurial spirit became evident at the early age of six, when he started collecting golf balls at a nearby course and selling them to golfers for a profit.
Nagle went on to earn a Bachelor’s in Political Science and Speech Communication from California State University, Long Beach; a Master’s in Business and Public Administration, from the University of Southern California; and an Executive Management Certificate in Medical Marketing from the UCLA Anderson School of Management.
Business career
Health care entrepreneur
Nagle began his career briefly as an investment banker with EF Hutton before discovering a passion for health care. In 1980, he joined The Upjohn Company (later acquired by Pfizer), where he would spend the next thirteen years in various management positions. In 1994, he joined Foundation Health Systems and co-founded Integrated Pharmaceutical Services (IPS). After serving in several senior leadership positions, Nagle left IPS in 1999 to co-found HMN Health Services, Inc.
In 2001, Nagle became Co-Founder and Chief Executive Officer of Envision Pharmaceutical Holdings, Inc. The company is credited as the first transparent PBM and pioneered crediting drug manufacturer rebates, administrative fees and other discounts directly to payers and consumers at the point of sale. Nagle and his partners, including TPG, sold Envision to Rite Aid in 2015 for $2.3 billion. In March 2014, Nagle voluntarily stepped down as CEO, staying on as Vice Chairman of the Board of Directors until the closing of the sale to Rite Aid.
Business ventures and investments
Nagle owns all or significant holdings in several real estate and financial ventures: The Nagle Company, a real estate development company whose holdings include El Dorado Hills Town Center, a mixed-use retail and entertainment center located 20 miles east of Sacramento; the Ice Blocks, a 172,000 square foot retail, office and residential development project in midtown Sacramento; and other real estate holdings. Moneta Ventures, a Folsom-based venture capital firm that invests in early stage companies in the health care, software, IT services and other technology sectors. Sacramento Kings NBA * Kevin Nagle recent sold all his shares and investments in the King's for a whopping $8. Jaguar Ventures, a Sacramento-based venture capital fund focused on health care and technology with plans to establish the largest venture capital fund in Sacramento, valued in excess of $100 million.
Sports ownership
Sacramento Kings and Golden 1 Center
Nagle is a minority owner (and the largest Sacramento-based owner) of the Sacramento Kings. From 2011 – 2013, Nagle was instrumental in marshaling the Sacramento business community behind then-Sacramento Mayor Kevin Johnson’s efforts to prevent the relocation of the Kings. In May 2011, Nagle joined with Mayor Johnson to raise $10 million in corporate sponsorships in only ten days, effectively countering claims that Sacramento lacked a sufficient corporate base to continue to support an NBA team. The sponsorships helped persuade the Kings ownership and NBA to opt against relocating the team to Anaheim for the 2012-2013 season and give Sacramento more time to develop a viable plan to build a new arena for the team.