Amedisys, Inc. (Nasdaq:AMED), a leading home health and hospice
company, today announced that its Board of Directors has named Paul
B. Kusserow as President and Chief Executive Officer and member of
the Board of Directors. Kusserow will assume the role on December
16, 2014 from President and Interim CEO, Ronald LaBorde, who will
remain a member of the senior management team in the role of Vice
Chairman reporting directly to the CEO. LaBorde will also continue
to serve as a member of the Board of Directors.
"Paul is an exceptional and proven leader with a broad and deep
understanding of the business of healthcare, a track record of
delivering on long-term growth strategies, and fiscal competency
that will surely help guide our company to be a national leader,"
said Don Washburn, Amedisys Board Chairman and Director. "His
relationships and deep knowledge of integrated health services, IT,
payors, hospitals, and post-acute providers will be instrumental as
he guides our management team in offering solutions that drive
value across the entire healthcare continuum. After six months
working closely with Paul as he developed the strategic turnaround
plan we've adopted, and seeing him in action during that period
moving us forward in a meaningful way, the entire Board is
confident that Paul is the right person to lead Amedisys during
this period of important transition for the post-acute care
sector."
"I am honored to have the opportunity to help lead Amedisys as
we mobilize to strengthen our leadership position as the home care
and hospice provider of choice throughout the United States," said
Kusserow. "Under the leadership of the Board and management team
led by Ronnie LaBorde, the company has demonstrated strong growth
in the past 10 months, and there is much more we can and will
accomplish. I am committed to helping Amedisys deliver clinical
excellence, enhance operational efficiencies, and build value for
everyone we serve, including our shareholders."
Kusserow, a highly respected healthcare industry veteran with
deep expertise in driving growth and innovation, was most recently
Vice Chairman of Alignment Healthcare, Inc., an integrated clinical
care company focused on providing care to the Medicare population.
Before that, he served as Senior Vice President, Chief Strategy,
Innovations and Corporate Development Officer of Humana, Inc., a
Fortune 75 healthcare services and benefits company. Prior to
joining Humana, he was Managing Director and Chief Investment
Officer of the Ziegler HealthVest Fund; Managing Director of San
Ysidro Capital Partners, L.L.C.; and Managing Partner of Roaring
Mountain, L.L.C.
Kusserow began his healthcare career with Tenet Healthcare
Corporation, one of the nation's largest investor-owned hospital
and healthcare service companies, where he spent seven years, the
last four as Senior Vice President, Corporate Strategy and
Ventures. Kusserow started his career as a management consultant at
McKinsey & Company, Inc. He has served on many corporate and
advisory boards, including his role as Chairman of the Advisory
Board of Care Innovations™, an Intel-GE joint venture focused on
aging-in-place technologies, and member of the advisory board of
Interpreta. He also serves on the corporate boards of AxelaCare
Health Solutions, Connecture, Inc. (Nasdaq:CNXR), New Century
Health, Inc., and Picwell Inc. Kusserow graduated Phi Beta Kappa
from Wesleyan University, and as a Rhodes Scholar from Oxford
University.
"Paul has the unanimous support of our Board to lead Amedisys
into the future," said Nathaniel M. Zilkha, Amedisys Board Member
and Co-Head of Credit and Special Situations at KKR & Co. L.P.
"His focused approach will create stockholder value and position
the company for strong future performance, building on many
positive business shifts we've seen since our strategic plan was
implemented at the beginning of this year."
"I am delighted to pass the baton of leadership to Paul and look
forward to teaming with him to advance the vital mission of
Amedisys," said Ronnie LaBorde, President and Interim CEO and Board
Member since 1997. "It has been a privilege to lead this company,
and I am extremely proud of the progress we have made over the last
10 months as well as the progress we will make in the future."
About Amedisys:
Amedisys, Inc. (Nasdaq:AMED) is a leading health care at home
company delivering personalized home health and hospice care to
more than 360,000 patients each year. More than 2,200 hospitals and
61,900 physicians nationwide have chosen Amedisys as a partner in
post-acute care. Amedisys is focused on delivering the care that is
best for our patients, whether that is home-based recovery and
rehabilitation after an operation or injury, care focused on
empowering them to manage a chronic disease, palliative care for
those with a terminal illness, or hospice care at the end of life.
For more information about the company, please visit:
www.amedisys.com.
Forward-Looking Statements:
When included in this press release, words like "believes,"
"belief," "expects," "plans," "anticipates," "intends," "projects,"
"estimates," "may," "might," "would," "should" and similar
expressions are intended to identify forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve a variety of risks and
uncertainties that could cause actual results to differ materially
from those described therein. These risks and uncertainties
include, but are not limited to the following: changes in Medicare
and other medical payment levels, our ability to open care centers,
acquire additional care centers and integrate and operate these
care centers effectively, changes in or our failure to comply with
existing Federal and State laws or regulations or the inability to
comply with new government regulations on a timely basis,
competition in the home health industry, changes in the case mix of
patients and payment methodologies, changes in estimates and
judgments associated with critical accounting policies, our ability
to maintain or establish new patient referral sources, our ability
to attract and retain qualified personnel, changes in payments and
covered services due to the economic downturn and deficit spending
by Federal and State governments, future cost containment
initiatives undertaken by third-party payors, our access to
financing due to the volatility and disruption of the capital and
credit markets, our ability to meet debt service requirements and
comply with covenants in debt agreements, business disruptions due
to natural disasters or acts of terrorism, our ability to integrate
and manage our information systems, our ability to comply with
requirements stipulated in our corporate integrity agreement and
changes in law or developments with respect to any litigation
relating to the Company, including various other matters, many of
which are beyond our control.
Because forward-looking statements are inherently subject to
risks and uncertainties, some of which cannot be predicted or
quantified, you should not rely on any forward-looking statement as
a prediction of future events. We expressly disclaim any obligation
or undertaking and we do not intend to release publicly any updates
or changes in our expectations concerning the forward-looking
statements or any changes in events, conditions or circumstances
upon which any forward-looking statement may be based, except as
required by law.
CONTACT: Media Contact:
Shannon Hooper
(615) 577-1124
smh@thinkrevivehealth.com
Kendra Kimmons
(225) 299-3720
kendra.kimmons@amedisys.com
Investor Contact:
David Castille
(225) 299-3665
david.castille@amedisys.com
Tripp Sullivan
(615) 760-1104
TSullivan@SCR-ir.com
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