Richard Palarea

Richard Palarea is a prominent healthcare executive and entrepreneur, currently serving as the CEO and Co-Founder of Kermit, a Baltimore-based company focused on healthcare cost reduction and spend management. Under his leadership, Kermit has saved hospitals over $200 million and manages a significant portion of implantable device spending in Maryland. The company has received multiple accolades, including recognition as an Inc. 5000 company and awards from the Baltimore Business Journal and the Federation of American Hospitals for its innovative contributions during the COVID-19 pandemic.1

In addition to his role at Kermit, Richard is also a Board Member and Co-Chair of Strategic Alliance Partnerships at EO Baltimore, where he contributes to fostering entrepreneurial growth and collaboration within the community.1 His extensive background includes founding PA & Associates, a logistics cost reduction firm acquired by Prostar Logistics, and holding various leadership roles in marketing and real estate appraisal.1 Richard's career reflects a commitment to improving operational efficiencies in healthcare through innovative solutions and strategic partnerships.