About Recondo Technology
George F. (Rick) Adam, Jr.
Chairman and Chief Executive Officer
George F. (Rick) Adam, Jr., is Chairman and Chief Executive Officer of Recondo Technology, a startup company formed in 2007. Recondo is developing software aimed to bring efficiencies and cost savings to the handling of healthcare payments, a process that currently costs the medical industry a staggering $300 billion in annual expense.
Prior to this, Mr. Adam founded Adam Aircraft Industries (1998), serving as Chairman and Chief Executive Officer. The company’s A500 aircraft was the first complex aircraft FAA certified by a startup since Bill Lear did it in the 1960s.
Mr. Adam was selected as recipient of the Aviation Week and Space Technology 2002 Laurels Award for outstanding achievement in the field of Aeronautics and Propulsion. Mr. Adam has also received numerous awards and recognition for his entrepreneurial achievements, including the 2003 Ernst & Young Entrepreneur of the Year finalist award for the Rocky Mountain Region in the manufacturing category; and Airport Journal’s 2003 Michael Chowdry Memoriam Aviation Entrepreneur of the Year award. In 1999, he received the Ernst & Young Entrepreneur of the Year award for the Rocky Mountain Region in the software category and was named one of the Top 10 Financial Technology Innovators of the Decade by Wall Street & Technology magazine.
Prior to founding Adam Aircraft, Mr. Adam formed a fast-growing Colorado technology company, New Era of Networks. In 1999, New Era of Networks was ranked seventh nationally by Deloitte & Touche in its Technology Fast 500 list. In June 1997, New Era of Networks went public (NASDAQ:NEON). New Era of Networks Enterprise Application Integration software was used in many hospitals to integrate ancillary department clinical systems to the patient admitting and accounting systems.
Mr. Adam was a general partner with Goldman Sachs and Co., where he was in charge of information technology, back office operations, and general services, directing a staff of more than 2,500 and managing a budget in excess of $800 million. Mr. Adam initiated and completed a successful turnaround of Goldman's IT operations, reducing costs by using technology as a medium for profit, and changing the way top Goldman executives worked with technology. He also founded the Goldman Sachs Trust Co., Global Custody Business, and Securities Lending Business.
Before Goldman Sachs, Mr. Adam held executive positions at Baxter Healthcare Corp., FMC, Litton Industries, and IBM. At Baxter Rick founded and led the Travenol Healthcare Information Systems Division, which automated several hundred hospitals. The software application automated and integrated admitting, patient accounting, pharmacy, and material management.
Mr. Adam is an active participant in the Experimental Aircraft Association’s (EAA) Special Outreach with Aviation Resources (SOAR) program, designed to assist underrepresented youth to become involved in the excitement of aviation. Thomas P. Poberezny, president, EAA Aviation Foundation, says of The Adam Family Foundation, “[Mr. Adam’s] generous support of the computer laboratory in the EAA Leadership Center in Oshkosh, Wisconsin, is an investment in tomorrow’s aerospace leaders. Within its walls, a legacy of technology leadership will be passed to generations for the century to come.” Mr. Adam has also facilitated the Children’s Education Program at the Colorado Wings Over the Rockies Museum.
Mr. Adam holds a BS.degree from the U.S. Military Academy, West Point, New York. As a captain in the U.S. Air Force, Mr. Adam served as launch crew officer in charge of the Real Time Computer Center (RTCC) at Kennedy Space Center for Apollo Missions 8 through 14. He was twice awarded the Air Force’s Commendation Medal. While serving in the U.S. Air Force, Mr. Adam attended graduate school at both Florida State University and Golden Gate University, where he received his MBA. Mr. Adam has his private pilot’s license, multi-engine, and is instrument rated. He has been jet type -rated and has flown more than 15 different types of aircraft.