AdaptHealth Appoints Crispin Teufel as New Chief Executive Officer
27 June 2023 - 10:16PM
Business Wire
AdaptHealth 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 its
Board of Directors has named Crispin Teufel as Chief Executive
Officer. Teufel is expected to assume the role on September 1,
2023.
Crispin Teufel, 47, has served as the Chief Executive Officer of
Lincare Holdings Inc., a leading national provider of in-home
respiratory care with over 700 locations in 48 states, since July
2017. Previously, Mr. Teufel served as the Chief Financial Officer
of Lincare from 2013 to 2019 and as a Finance Director for Linde
Engineering in Germany from 2011 to 2013. Prior to joining Linde in
2005, Mr. Teufel began his career with financial roles at PWC and
Arthur Andersen. Mr. Teufel currently serves on the Board of
Directors of Bellerophon Therapeutics, a clinical-stage
biotherapeutics company, and as the Chairman of the Board of the
German American Chamber of Commerce of the South. Mr. Teufel holds
an MBA in Economics from Ruhr University Bochum, Germany, is a
Certified Public Accountant and is a German Tax Advisor.
“We are quite pleased to be announcing the appointment of
Crispin Teufel as the next Chief Executive Officer of AdaptHealth,”
said Mr. Barasch. “Crispin is the ideal candidate to lead
AdaptHealth in its mission to transform care by keeping patients
healthy in their homes. We are fortunate to have found such an
experienced executive with deep industry understanding and a proven
track record of success. The Board and I are confident that he will
lead this organization to future success.”
“AdaptHealth has established itself as a leader in the industry
and I am honored to be assuming the role of CEO at this pivotal
time as the company enters the next era of at-home care. Together
with the entire Adapt team and Board of Directors, I look forward
to leveraging my expertise in the space to foster innovation and
deliver value to the Company’s customers and stakeholders,” said
Teufel.
As previously announced, current CEO Stephen Griggs will step
down effective June 30, 2023 and Richard Barasch, Chairman of the
Board, will serve as interim CEO until Mr. Teufel joins the
Company. Mr. Barasch will remain Chairman of the Board for
AdaptHealth and will provide support through the transition.
About AdaptHealth Corp.
AdaptHealth is a national leader in providing patient-centered,
healthcare-at-home solutions including home medical equipment
(HME), medical supplies, and related services. The Company provides
a full suite of medical products and solutions designed to help
patients manage chronic conditions in the home, adapt to challenges
in their activities of daily living, and thrive. Product and
service offerings include (i) sleep therapy equipment, supplies,
and related services (including CPAP and bi PAP services) to
individuals suffering from obstructive sleep apnea, (ii) medical
devices and supplies to patients for the treatment of diabetes
(including continuous glucose monitors and insulin pumps), (iii)
HME to patients discharged from acute care and other facilities,
(iv) oxygen and related chronic therapy services in the home, and
(v) other HME devices and supplies on behalf of chronically ill
patients with wound care, urological, incontinence, ostomy and
nutritional supply needs. The Company is proud to partner with an
extensive and highly diversified network of referral sources,
including acute care hospitals, sleep labs, pulmonologists, skilled
nursing facilities, and clinics. AdaptHealth services beneficiaries
of Medicare, Medicaid, and commercial insurance payors, reaching
more than 3.9 million patients annually in all 50 states.
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook,” and similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding financial and
performance metrics, and projections of market opportunity and
expectations. These statements are based on various assumptions and
on the current expectations of AdaptHealth management and are not
predictions of actual performance. These forward-looking statements
are provided for illustrative purposes only and are not intended to
serve as, and must not be relied on, by any investor as, a
guarantee, an assurance, a prediction or a definitive statement of
fact or probability. Actual events and circumstances are difficult
or impossible to predict and will differ from assumptions. Many
actual events and circumstances are beyond the control of the
Company.
These forward-looking statements are subject to a number of
risks and uncertainties, including the outcome of judicial and
administrative proceedings to which the Company may become a party
or governmental investigations to which the Company may become
subject that could interrupt or limit the Company’s operations,
result in adverse judgments, settlements or fines and create
negative publicity; changes in the Company’s customers’
preferences, prospects and the competitive conditions prevailing in
the healthcare sector. A further description of such risks and
uncertainties can be found in the Company’s filings with the
Securities and Exchange Commission. If the risks materialize or
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks that the Company presently knows or that
the Company currently believes are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect the Company’s expectations, plans or forecasts of future
events and views as of the date of this press release. The Company
anticipates that subsequent events and developments will cause the
Company’s assessments to change. However, while the Company may
elect to update these forward-looking statements at some point in
the future, the Company specifically disclaims any obligation to do
so. These forward-looking statements should not be relied upon as
representing the Company’s assessments as of any date subsequent to
the date of this press release. Accordingly, undue reliance should
not be placed upon the forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230627968668/en/
AdaptHealth Corp. Jason Clemens, CFA Chief Financial Officer
Investor Relations ICR Westwicke IR@adapthealth.com
AdaptHealth (NASDAQ:AHCO)
Historical Stock Chart
From Apr 2024 to May 2024
AdaptHealth (NASDAQ:AHCO)
Historical Stock Chart
From May 2023 to May 2024