AdaptHealth Appoints Griggs as CEO

Griggs assumes the role of full CEO after his fellow co-CEO resigns after being charged by Danish authorities for personal activity unrelated to the company.

• By David Kopf
• Jun 17, 2021

National HME provider AdaptHealth Corp.’s board of directors has appointed Stephen Griggs as the company’s CEO.

Griggs, who is also a member of the board, joined AdaptHealth in February as co-CEO after AdaptHealth acquired AeroCare Holdings Inc., which Griggs founded and led as president and CEO.

Griggs assumes the full role of CEO after AdaptHealth placed its other co-CEO and Director Luke McGee on unpaid leave in April after it learned that authorities in Denmark formally charged McGee for tax fraud. The alleged personal conduct occurred between March 2014 and August 2015 and had no connection to AdaptHealth’s business, according to an internal investigation.

McGee has since resigned from his positions as Co-CEO of AdaptHealth and a member of the board.

“Steve’s extensive management experience, along with health sector expertise and a proven record building high-growth companies, has already been instrumental in bolstering AdaptHealth’s growth trajectory,” AdaptHealth Board Chair Richard Barasch said. “The board has complete confidence in his ability to lead the company to even greater success as CEO.”

“I look forward to leading AdaptHealth into the next phase of its growth with some of the best management talent in the business — President Josh Parnes, CFO Jason Clemens and the rest of our senior team,” Griggs said. “AdaptHealth has never been stronger and with the integration of AeroCare firmly on course, we can focus our full attention on delivering strong organic growth in our core business, enhancing our role in chronic disease management and deploying capital on strategic M&A opportunities.”

AdaptHealth’s board established a special committee of independent directors to oversee an investigation of any connection between McGee’s private activities and the company. The committee retained independent law firm DLA Piper to conduct the investigation, which reported on June 11 that the investigation was substantially complete and that it could state with a high degree of confidence that the company had no involvement in or connection to McGee’s alleged conduct.

“I thank the Special Committee for moving quickly and diligently to establish the facts, and we now look forward to dedicating our full energies to achieving our strategic and operational objectives,” Barasch said.