AdaptHealth Corp. (Nasdaq: AHCO), a provider of home medical equipment (HME) and health-care-at-home solutions, has announced significant changes to its board of directors and management team.
Dale Wolf has been appointed as chair of the board of directors, effective July 1, 2024, succeeding Richard Barasch. Wolf had been a board member since November 2019.
Additionally, Josh Parnes, the president of AdaptHealth and a board member, will step down from his role as president on Aug. 31, 2024, and from the board on Dec. 31, 2024.
AdaptHealth recently concluded an extensive search for a new CEO, appointing Suzanne Foster to lead the company in May.
“I am thrilled to assume the role and look forward to working alongside Suzanne and her team to leverage the momentum in our business as we continue to improve the lives of millions of people who rely on us,” Wolf said in a press release.
AdaptHealth, headquartered in Plymouth Meeting, Pennsylvania, specializes in HME and in-home care solutions across the U.S., with key business segments in sleep therapy, respiratory care and diabetes management.
In the first quarter of 2024, the company reported a revenue of $792.5 million, marking a 6.4% increase from the previous year. Despite a net loss of $2.1 million, this was a significant improvement from the $15.7 million loss the previous year.
The sleep business was the largest revenue contributor, accounting for approximately $306.2 million.
