Outcome Health hires new CEO

Outcome Health hired a top executive from an advertising giant to be its chief executive officer.

The hiring of Matt McNally, the chief media officer and president of Publicis Health, to succeed Rishi Shah was announced Thursday in a company email, according to reports by Crain’s Chicago Business and Chicago Inno.

McNally, who plans to split time in New York and Chicago, is scheduled to takes the reigns of Outcome Health either later this month or in July.

Shah co-founded the company, which sells advertising on TVs and tablets installed in doctors offices. He stepped back from his CEO duties after the company was accused of misleading investors.

The scandal led Outcome Health to abandon plans for a River North office and hiring 2,000 employees by 2022.

In 2017, Shah was estimated to have personal fortune worth $3.6 billion after the company accepted a $600 million in venture capital. The investment came primarily from Chicago-based Pritzker Group, Goldman Sachs and CapitalG, which is connected to Google.