Amedisys Announces Paul Kusserow’s Retirement as Chief Executive Officer and Appoints Chris Gerard as Chief Executive Officer Effective April 15, 2022
January 10 2022 - 8:00AM
Amedisys, Inc. (NASDAQ: AMED), a leading provider of home health,
hospice, personal care and high acuity care services, today
announced that Chairman and Chief Executive Officer (CEO) Paul
Kusserow will retire as CEO on April 15th, 2022. Upon his
retirement as CEO, Mr. Kusserow will continue to serve as Chairman
of the Board of Directors, and current President and Chief
Operating Officer (COO), Chris Gerard, will assume the role of
President and CEO and join the Board of Directors following the
succession planning process that began in early 2021.
“Having the opportunity to be part of and lead Amedisys for the
past seven years has genuinely been the highlight of my career.
Seeing what we have built since 2014, the talent we have developed,
the patients we have cared for and the quality care we have focused
on and delivered has been simply astonishing,” Chairman and CEO
Paul Kusserow said. “Though there is so much to be proud of, I am
especially proud of the team we have assembled across the
organization which is why I am so confident in a seamless
transition to Chris. I’ve had the privilege of working with Chris
over the last five years and have seen the value and insights he
brings and am excited to see what he will do as CEO. I look forward
to continuing to serve Chris and the Company as Chairman of the
Board. It is important to me to take this opportunity to thank all
our 21,000 employees who have helped to make all the successes of
the last seven years possible. We truly could not have accomplished
any of it without your work, commitment, and support. Thank you
from the bottom of my heart.”
Amedisys Under Paul Kusserow’s Leadership
- Improved Home Health Quality of Patient Care Star score from
3.5 stars to 4.33 stars – leading the industry
- Migrated the entire Amedisys business to the Homecare Homebase
(HCHB) platform
- Focused on employees and being the employer of choice resulting
in a voluntary turnover rate of approximately 18% and landing
Amedisys on Modern Healthcare’s Best Place to Work list in
2021
- Expanded Amedisys’ lines of business from Home Health and
Hospice to Home Health, Hospice, Personal Care, Palliative Care,
Hospital at Home and Skilled Nursing Facility (SNF) at Home
- Invested in the Hospice business growing census from
approximately 4,600 to over 13,000 and increasing the number of
care centers from 80 to 177
- Grew the market cap of Amedisys from $900 million to over $5.3
billion, while growing revenue by over 74%, generating substantial
shareholder value
“Since Paul took over, the organization is better in nearly
every way. On behalf of the Board of Directors, I want to sincerely
thank him for his efforts and continued leadership,” said Lead
Independent Director, Rich Lechleiter. “Of all that he has
accomplished, building out the executive team may be one of his
most impressive achievements and one that I know he is most proud
of. The depth of talent is second to none and the way in which he
and Chris have worked together to lead this company since Chris
joined in 2017 will make for a seamless transition. Congratulations
to Paul on his retirement and to Chris on his new role.”
“It is hard to quantify the impact that Paul has had on Amedisys
and myself,” said President and COO, Chris Gerard. “I want to thank
him and the Board of Directors of Amedisys for their confidence and
trust in me, and I am truly humbled by the opportunity to follow
Paul as Amedisys’ third CEO. Paul will leave very big shoes to
fill, and I look forward to officially taking the reins from him
and tackling the headwinds and many opportunities before Amedisys
in 2022. Our organization is uniquely positioned in the market, and
I am excited about the significant growth opportunities in front of
us and our ability to execute on them. It’s a great time to be at
Amedisys.”
About Amedisys:
Amedisys, Inc. is a leading healthcare at home Company
delivering personalized home health, hospice, personal care and
high acuity care services. Amedisys is focused on delivering the
care that is best for our patients, whether that is home-based
personal care; recovery and rehabilitation after an operation or
injury; care focused on empowering them to manage a chronic
disease; or hospice care at the end of life. More than 2,900
hospitals and 78,000 physicians nationwide have chosen Amedisys as
a partner in post-acute care. Founded in 1982, headquartered in
Baton Rouge, LA with an executive office in Nashville, TN, Amedisys
is a publicly held company. With ~21,000 employees, in 529 care
centers in 38 states and the District of Columbia, Amedisys is
dedicated to delivering the highest quality of care to the
doorsteps of more than 418,000 patients in need every year. 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,”
“strategy,” “plans,” “anticipates,” “intends,” “projects,”
“estimates,” “may,” “might,” “could,” “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: the impact of the
novel coronavirus pandemic (“COVID-19”), including the measures
that have been and may be taken by governmental authorities to
mitigate it, on our business, financial condition and results of
operations, 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, 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, competition in the healthcare
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 consistently provide
high-quality care, our ability to attract and retain qualified
personnel, our ability to keep our patients and employees safe,
changes in payments and covered services by federal and state
governments, future cost containment initiatives undertaken by
third-party payors, our access to financing, our ability to meet
debt service requirements and comply with covenants in debt
agreements, business disruptions due to natural disasters or acts
of terrorism, widespread protests or civil unrest, our ability to
integrate, manage and keep our information systems secure, our
ability to realize the anticipated benefits of acquisitions,
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: |
|
Nick Muscato |
Kendra Kimmons |
Amedisys, Inc. |
Amedisys, Inc. |
Investor Relations |
Media Relations |
615.928.5452 |
225.299.3720 |
Nick.muscato@amedisys.com |
Kendra.kimmons@amedisys.com |
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