Sean Orr to Move into SVP of Finance Role
Accretive Health, Inc. (OTC Pink: ACHI) today announced that it
has appointed Peter Csapo, CPA, former chief financial officer and
area senior vice president for VHA, Inc., as senior vice president,
chief financial officer and treasurer, effective Tuesday, August
12.
Csapo succeeds Sean Orr, who has served as senior vice president
and chief financial officer of Accretive Health since August 2013.
Orr will remain with the company, moving into a new role as SVP of
finance, reporting directly to Emad Rizk, M.D, president and chief
executive officer. In this role, Orr will leverage his expertise to
advise the company regarding its pending financial restatement and
will work closely with Csapo to ensure a smooth transition.
“Peter is an accomplished leader with extensive healthcare
experience and intimate knowledge of hospital and payer finance and
operations, all of which we will leverage as we move forward,” said
Dr. Rizk. “Peter spent a great deal of time working with hospital
CEOs and CFOs during his time at VHA, and I know he is the ideal
person to help us enhance our financial infrastructure and internal
operating controls as Accretive Health moves into our next phase of
growth and innovation.”
Dr. Rizk continued, “At the same time, Sean has done a terrific
job and brought a strong combination of both financial acumen and a
straight-forward approach to Accretive Health over the past year.
Our finance organization has made significant progress on the
restatement so far, and we will continue to benefit from Sean’s
expertise in this area.”
Since 2011, Csapo has served as area senior vice president and
chief financial officer for VHA, Inc., parent company of Novation,
Provista and aptitude™, where he provided leadership to turn around
the company’s financial strategy and infrastructure, and modernize
information technology methodologies to align with and support
VHA’s new business model.
Prior to that, Csapo worked at McKesson Health Solutions as
chief financial officer and vice president, customer operations. He
joined McKesson in 1998, where he advanced through multiple
corporate and divisional leadership roles during his 13-year
tenure.
Csapo also worked at Honeywell International, Inc., in finance
and enterprise resource planning (ERP) systems. He began his career
at the headquarters of Sears, Roebuck and Co. in audit and SEC
financial reporting. Csapo is a graduate of the University of
Wisconsin at Madison and received his Certified Public Accountant
certificate from the state of Illinois.
“After 16 years of working with hospitals and health plans, I
look forward to capitalizing on my experience to evolve Accretive
Health’s financial processes and systems to set us up for our
journey to sustained growth and profitability,” Csapo said. “Emad
and I made a great team when we worked together before, and it will
be a privilege to have the opportunity to work with him again in
this leadership capacity.”
“I am proud of the progress Accretive Health has made over the
past year, and I am eager to work with Peter and Emad as we put the
restatement behind us and build a finance organization that is well
positioned to support the future growth of the business,” Orr
said.
Safe Harbor
This press release contains forward-looking statements,
including statements regarding Accretive Health’s ability to
finalize its restatement, its ability to enhance or evolve its
financial infrastructure, internal operating controls and corporate
and operating costs structure, and its ability to achieve sustained
growth and profitability. All forward-looking statements contained
in this press release involve risks and uncertainties. The
company’s actual results and outcomes could differ materially from
those anticipated in these forward-looking statements as a result
of various factors, including the possibility that the ongoing
restatement could have unanticipated consequences and the factors
set forth in the company’s quarterly report on Form 10-Q for the
quarter ended September 30, 2012, filed with the SEC on November 8,
2012, under the heading “Risk Factors.” The words “strive,”
“objective,” “anticipates,” “believes,” “estimates,” “expects,”
“intends,” “may,” “plans,” “projects,” “vision,” “would,” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. The company has based these
forward-looking statements on its current expectations and
projections about future events. Although the company believes that
the expectations underlying any of its forward-looking statements
are reasonable, these expectations may prove to be incorrect and
all of these statements are subject to risks and uncertainties.
Should one or more of these risks and uncertainties materialize, or
should underlying assumptions, projections, or expectations prove
incorrect, actual results, performance, financial condition, or
events may vary materially and adversely from those anticipated,
estimated, or expected.
All forward-looking statements included in this press release
are expressly qualified in their entirety by these cautionary
statements. The company cautions readers not to place undue
reliance on any forward-looking statement that speaks only as of
the date made and to recognize that forward-looking statements are
predictions of future results, which may not occur as anticipated.
Actual results could differ materially from those anticipated in
the forward-looking statements and from historical results, due to
the uncertainties and factors described above, as well as others
that the company may consider immaterial or does not anticipate at
this time. Although the company believes that the expectations
reflected in its forward-looking statements are reasonable, the
company does not know whether its expectations may prove correct.
The company’s expectations reflected in its forward-looking
statements can be affected by inaccurate assumptions it might make
or by known or unknown uncertainties and factors, including those
described above. The risks and uncertainties described above are
not exclusive, and further information concerning the company and
its business, including factors that potentially could materially
affect its financial results or condition or relationships with
customers and potential customers, may emerge from time to time.
The company assumes no, and it specifically disclaims any,
obligation to update, amend, or clarify forward-looking statements
to reflect actual results or changes in factors or assumptions
affecting such forward-looking statements. The company advises
investors, however, to consult any further disclosures it makes on
related subjects in our periodic reports that it files with or
furnishes to the SEC.
About Accretive Health
At Accretive Health, our mission is to partner with healthcare
communities to serve as a catalyst for a healthier future for all.
For more information, visit www.accretivehealth.com.
Accretive Health, Inc.Investor Relations:Atif
Rahim312-324-5476investorrelations@accretivehealth.comorMedia
Relations:Brian Pitts312.475.5921brian.pitts@hkstrategies.com
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