AdaptHealth Corp. (NASDAQ: AHCO) has appointed Suzanne Foster as its Chief Executive Officer, effective May 20, 2024. Ms. Foster joins AdaptHealth from Danaher Corporation, where she served as President of Beckman Coulter Life Sciences. She brings over 25 years of healthcare experience and a strong track record of leading growth businesses in the healthcare market.
Following this leadership transition, Richard Barasch, who served as interim CEO and Chairman of the Board, will remain as Chairman of the Board until June 30, 2024, after which he will step down from the Board of Directors. However, he has agreed to serve as needed at the request of Ms. Foster and the AdaptHealth Board of Directors as a Special Advisor to the CEO.
Under Mr. Barasch's interim leadership, the company delivered consistent results in its core business, strengthened the management team, and established a strategy to seize on value-based care opportunities.
AdaptHealth is a national leader in providing patient-centered, healthcare-at-home solutions, reaching approximately 4.1 million patients annually in all 50 states through its network of approximately 680 locations in 47 states. The company's product and service offerings include sleep therapy equipment, medical devices and supplies for diabetes treatment, home medical equipment for patients discharged from acute care facilities, oxygen and related chronic therapy services, and other HME devices and supplies for chronically ill patients with various needs.
As Ms. Foster takes the helm, the company looks to build on its positive momentum and capitalize on the opportunities ahead. With her extensive healthcare experience, the company aims to continue delivering value to its customers and stakeholders as it enters the next phase of growth. The market has reacted to these announcements by moving the company's shares -1.9% to a price of $9.43. Check out the company's full 8-K submission here.
