Business
AdaptHealth Announces Stephen Griggs Will Step Down as CEO at the End of Second Quarter
Board Has Initiated a Search for a Successor PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)-- AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a
About this update from Adapthealth Corp.
[{"type":"text","content":"\nBoard Has Initiated a Search for a Successor\n\n\n PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--\nAdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered, healthcare-at-home solutions, including home medical equipment, medical supplies and related services, announced today that Stephen Griggs will step down as Chief Executive Officer by mutual agreement with the Board of Directors, effective June 30, 2023.\n\n\nThe Board is working with a leading executive search firm to identify a new CEO and is considering several qualified candidates. Richard Barasch, Chairman of the Board, will serve as interim CEO if a successor to Mr. Griggs is not appointed by the time of his departure. Mr. Griggs will not seek re-election to the Board at the Company’s forthcoming annual meeting in June.\n\n\nMr. Griggs joined AdaptHealth in 2021 following its acquisition of AeroCare Holdings, Inc., which he founded in 2000 and led as President and CEO until the acquisition. Under his leadership, AdaptHealth added key vendors, launched cross-selling initiatives, integrated its cloud-based workstreams and pioneered e-prescribe, e-ordering and e-delivery services.\n\n\nMr. Barasch said, “On behalf of the Board, I thank Steve for the critical leadership role he has played at AdaptHealth to help build a market-leading provider of sleep, diabetes, respiratory and other health care solutions. As CEO, he has led the Company through the successful integration of AdaptHealth and AeroCare, overseen more than two dozen acquisitions and helped us navigate the challenges of the COVID-19 pandemic, the CPAP shortage resulting from the Philips recall and other market headwinds. Steve leaves AdaptHealth in sound financial condition and much improved operational shape, and we are committed to finding a highly qualified candidate to capitalize on the strategic opportunities that will power the next stage of the Company’s growth.”\n\n\nMr. Griggs said, “I am proud to have worked with the most talented individuals in the industry to deliver on our vision of transforming the health care experience for patients by helping to keep them healthy at home. Now is the right time for a new leader to build on our strong foundation of cost-effective, scalable technology and established, trusted patient relationships. I look forward...