AdaptHealth Corp.’s (Nasdaq: AHCO) search for a new CEO is over.
Earlier this month, AdaptHealth announced that Suzanne Foster is stepping in as the company’s top executive. AdaptHealth had been looking for a new CEO since Stephen Griggs vacated his post last summer, with Chairman Richard Barasch filling the role on an interim basis.
“Our board conducted an extensive search, and Suzanne stood out as the ideal candidate,” Barasch said in a press release.
The Plymouth Meeting, Pennsylvania-based AdaptHealth is a national provider of home medical equipment (HME) and other health-at-home solutions. Its products and offerings range from sleep therapy equipment, supplies and related services, to medical devices and supplies for patients with diabetes, to HME for chronically ill patients with wound care, urological, incontinence, ostomy and nutritional supply needs – and beyond.
Overall, the company has about 680 locations in 47 states, working with Medicare, Medicaid and commercial payers in its markets.
“I am confident that Suzanne has the skills and experiences to lead AdaptHealth as it solidifies its position in the epicenter of efforts to improve the health of people with chronic conditions like diabetes, sleep apnea, obesity and COPD,” Barasch continued.
Foster was most recently with Danaher Corporation, where she served as president of Beckman Coulter Life Sciences, a global provider of biomedical technologies and laboratory instruments.
She also has experience serving as president of Cardinal Health at-Home Solutions, president of Stanley Healthcare, a Stanley Black & Decker business, and general manager of Medtronic Advanced Energy.
“I am excited to join AdaptHealth and to lead the Company into its next phase of growth, building on the positive momentum that has been established and capitalizing on the many opportunities ahead of us,” Foster said.
With the new CEO in place, Barasch will transition into a special advisor role. He will remain chairman of AdaptHealth’s board until June 30, then step down from the board entirely.
AdaptHealth’s board of directors is in the process of identifying a replacement chair.
“We want to express our sincere appreciation to Richard for taking on the role of interim CEO,” AdaptHealth Director Dale Wolf said in the release. “Under his leadership, the company delivered consistent results in our core business, strengthened the management team and established a strategy to seize on value-based care opportunities.”
Barasch had recently hinted that AdaptHealth was close to naming a new CEO.
“We now have a couple of very promising candidates and are currently advancing through the recruiting process,” Barasch said during the company’s first-quarter earnings call. “We will keep you updated as we move forward. But as you can see from our results, our progress has not slowed down during this process.”
