PLYMOUTH MEETING, Pa. - AdaptHealth Corp. (NASDAQ: NASDAQ:AHCO), a provider of home healthcare solutions, has announced the appointment of Suzanne Foster as Chief Executive Officer, effective May 20, 2024. She succeeds interim CEO Richard Barasch, who will continue to serve as Chairman of the Board until June 30, 2024.
Foster's extensive background in healthcare spans over 25 years, including leadership roles at Danaher Corporation (NYSE:DHR), where she was President of Beckman Coulter Life Sciences. Her experience encompasses in-home care, life sciences, medical devices, supply chain and distribution, and healthcare technology.
Foster's track record is marked by delivering growth and improving profitability. Her academic credentials include a Master of Public Health in Law and Health Policy from Harvard University and a Juris Doctor from Suffolk University Law School.
The decision to appoint Foster followed a thorough search process. "Our board conducted an extensive search and Suzanne stood out as the ideal candidate," said Barasch. He expressed confidence in her capabilities to lead AdaptHealth as it aims to improve healthcare for people with chronic conditions.
Foster expressed enthusiasm about her new role, stating her intention to build on the company's established momentum and to capitalize on future opportunities. She plans to draw on her previous experience to execute key initiatives and deliver value to AdaptHealth's customers and stakeholders.
Barasch will assist in the transition of leadership and, after stepping down as Chairman, will be available as a Special Advisor to the CEO upon request. The company is currently identifying candidates for the next Board Chair.
AdaptHealth has positioned itself as a national leader in healthcare-at-home solutions, serving approximately 4.1 million patients annually across the United States. The company offers a wide range of medical products and services, including sleep therapy equipment, diabetes management devices, home medical equipment, and chronic therapy services.
The information in this article is based on a press release statement from AdaptHealth Corp.
InvestingPro Insights
As AdaptHealth Corp. (NASDAQ: AHCO) welcomes Suzanne Foster as its new Chief Executive Officer, investors may be curious about the company's financial health and market performance. According to InvestingPro, management has been actively repurchasing shares, a sign that could indicate confidence in the company's future prospects.
Moreover, analysts are optimistic about the company's potential to turn a profit this year, aligning with Foster's track record of driving growth and improving profitability.
InvestingPro Data reveals that AdaptHealth has a market capitalization of $1.26 billion, with a notable revenue growth of 7.73% over the last twelve months as of Q4 2023. This growth is supported by a solid gross profit margin of 17.5%.
Despite a negative P/E ratio of -1.86, the adjusted P/E ratio for the same period stands at a more favorable 13.64, suggesting that the company's earnings may be on an upward trajectory. Furthermore, with a strong return of 44.73% over the last three months, investors have witnessed a significant appreciation in the company's share price.
For those considering an investment in AdaptHealth, it is worth noting that the company does not currently pay a dividend, which may influence the investment strategy for income-focused investors. To explore additional insights and gain a deeper understanding of AdaptHealth's financial metrics, readers can access more InvestingPro Tips by visiting InvestingPro's dedicated page for AHCO.
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