In brief: XiFin & Notable Systems create alliance, Accendra Health seeks next CEO
By HME News Staff
Updated 9:09 AM CDT, Wed August 12, 2026
SAN DIEGO and DENVER – XiFin and Notable Systems have announced a multi-year strategic alliance to develop and deliver purpose-built artificial intelligence (AI) capabilities across the XiFin Empower AI RCM ecosystem.
By combining Notable’s document intelligence with XiFin’s revenue cycle data, domain expertise and established workflow orchestration, the two companies say they are creating purpose-built AI capabilities that understand information, determine the appropriate action, and move complex work forward for their clients.
“XiFin has long applied AI, automation and active intelligence across the revenue cycle,” said Lâle White, executive chair and CEO of XiFin. “This alliance builds on that foundation by expanding the specialized capabilities available through XiFin Empower and accelerating our broader innovation roadmap. Our investment and multi-year commitment reflect both the importance of this work and XiFin’s continued leadership in shaping the next generation of intelligent revenue cycle management.”
XiFin has also made a strategic investment in Notable as part of its Series B financing to accelerate the shared innovation roadmap.
In tandem with the agreement, Notable is executing a strategic realignment to invest more deeply in the engineering, innovation, and embedded delivery capabilities that the company says differentiate its AI systems for major health care providers. Notable’s clients today include Orthofix, National Seating & Mobility, and Advanced Diabetes Supply, a subsidiary of Cardinal Health.
By concentrating its resources on the largest RCM platforms and providers, Notable says it is positioning to bring next-generation AI automation to a broader enterprise health care market.
“Our greatest successes have always come from deep, collaborative relationships with major health care partners,” said Steve Johnson, CEO and co-founder of Notable Systems. “XiFin's participation in our Series B is a meaningful vote of confidence in our team and our technology, and this strategic realignment lets us invest further in the embedded partnerships that have long differentiated Notable. Our strategic alliance with XiFin provides the foundation to accelerate innovation for years to come.”
XiFin says its interoperable XiFin Empower AI ecosystem brings intelligence across the revenue cycle, from patient registration and eligibility verification to clinical documentation, billing, payment and appeals. Notable’s agents will extend that intelligence into the requisitions, prescriptions, medical records, payer correspondence and other unstructured information that traditionally require labor-intensive handling.
Together, the companies say they are helping reduce manual touches and improve financial outcomes in high-complexity, high-value billing environments.
Accendra Health: Expansion opportunities will emerge later in 2026
RICHMOND, Va. – Accendra Health reported net revenue of $613.2 million for the second quarter of 2026 vs. $681.9 million for same period last year. Other financial results:
- Loss from continuing operations, net of tax, GAAP: ($89.1 million) vs. ($83.8 million)
- Adjusted (loss) income from continuing operations, net of tax, non-GAAP: ($14.3 million) vs. $20.5 million
- Adjusted EBITDA, non-GAAP: $60.1 million vs. $96.6 million
- Free cash flow, non-GAAP: ($25.1 million) vs. $15.2 million
- Loss from continuing operations, net of tax, per common share, GAAP: ($1.16 million) vs. ($1.09 million)
- Adjusted (loss) income from continuing operations, net of tax, per common share, non-GAAP: ($0.19 million) vs. $0.26 million.
“Throughout the second quarter, we moved farther along toward the complete separation from Owens & Minor while also putting a large commercial payer exit behind us,” said President and CEO Edward Pesicka. “In the last six months, we have eliminated well over $125 million of annualized operating expense directly associated with this large commercial payer, and we are now beginning to reset our business for accelerated future growth. Additionally, we reduced outstanding debt by $385 million and comprehensively reset our debt maturity profile through our balance sheet optimization transaction which closed in June.
“We also saw continued progress on key growth initiatives and new strategic partnerships that have both topline and bottom-line expansion opportunities that will begin to emerge in late 2026 and accelerate in 2027,” he continued. “These include the nationwide rollout of the Sleep Center of Excellence, new commercial agreements, and an increased emphasis on expense rationalization.”
Accendra Health is updating its prior financial guidance for full year 2026 to:
- Revenue: $2.45 billion - $2.55 billion
- Adjusted EBITDA: $300 million - $320 million
- Free cash flow: Breakeven to slightly positive
Related: Accendra Health lags in Q1 but lays groundwork for standalone status.
New agreement allows Exor to increase stake in Philips
AMSTERDAM – Philips and Exor have agreed to update their long-term relationship agreement. It provides Exor with the flexibility to increase its shareholding in Philips to up to 22% of the company’s issued ordinary share capital and voting rights, up from the previous 20% cap, with the possibility of increasing its stake further subject to approval by the Philips Supervisory Board. Governance arrangements remain unchanged, including Exor's right to nominate one member of the Philips Supervisory Board. “The updated agreement reflects Exor’s support for Philips and its Board of Management as we execute our 2026–2028 plan,” said CEO Roy Jakobs. “It underscores the value creation potential of the plan and our focus on delivering profitable growth.” In 2023, Philips announced that Exor, a diversified holding company based in the Netherlands, had bought a 15% shareholding in the company.
Accendra Health seeks next president, CEO
RICHMOND, Va. – Accendra Health has announced that President and CEO Edward Pesicka plans to retire by the end of 2026, after more than seven years with the company. He will also retire from the board before the end of the year. “The decision to retire is never easy, and there is never an ideal time,” Pesicka said. “Having completed the divestiture of Owens & Minor, the balance sheet optimization transaction, and, most recently, changes to our management structure across the business, this is the best time to begin my next chapter. Through the continued leadership of our board of directors and the executive team, I am confident that this transition will be smooth, and I have no doubt that Accendra Health’s future is extremely bright. I want to thank the board for their guidance, partnership, and trust over the last several years, and, most importantly, I want to thank every Accendra Health teammate for their dedication and hard work. I have been extremely proud to be part of the team.” Accendra Health says Pesicka may serve in an advisory capacity beyond his planned retirement date to help ensure a smooth and successful transition. The company says the board maintains a long-standing, robust succession planning process established to address officer succession, and through that process, it has previously identified potential candidates with the capabilities to succeed Pesicka. It says with Pesicka’s decision and announcement, the board will leverage that preparation to comprehensively evaluate and select the next president and CEO.
Accendra Health adopts tax asset preservation plan
RICHMOND, Va. – Accendra Health’s board of directors has adopted a Section 382 Rights Agreement designed to protect long-term shareholder value by facilitating the company’s ability to preserve its net operating loss carryforwards (NOLs) and certain other tax attributes. Accendra Health says a company generally experiences an ownership change if the percentage of the value of its stock owned by certain “5-percent shareholders” increases by more than 50 percentage points over a rolling three-year period. The Tax Asset Preservation Plan is intended to reduce the likelihood of such an “ownership change” by deterring any person or group from acquiring beneficial ownership of 4.9% or more of the company’s outstanding common stock. The company says the Tax Asset Preservation Plan is similar to those adopted by numerous other public companies with significant NOLs. The plan is not designed to prevent any action that the board of directors determines to be in the best interest of the company, and will help to ensure that the board remains in the best position to discharge its fiduciary duties. If the company experiences an “ownership change,” all holders of rights (other than any triggering person) will be entitled to acquire shares of common stock at a 50% discount or the company may exchange each right held by such holders for one share of common stock. The plan took effect on Aug. 10, 2026, and is scheduled to continue until Auug. 10, 2029, unless terminated earlier in accordance with its terms.
NSM ‘opens up environments’ for clients with new distribution agreement
FRANKLIN, Tenn. – National Seating & Mobility (NSM) has signed a strategic distribution agreement for Matia Mobility’s Tek RMD M1 Standing Mobility Platform. The agreement establishes NSM Canada as a flagship partner for the platform in Canada, with coordinated clinical training, dedicated support and coverage through its branch network throughout the country. "Bringing the Tek RMD M1 into our portfolio is a significant step for our Canadian clients," said Jen Casu-Morin, president, NSM Canada. "Our clinicians and technology specialists are focused on matching each client with equipment that fits how they actually live, and this platform opens up environments and everyday activities that would otherwise be out of reach." With one of the smallest footprints in its category, NSM says the Tek RMD M1 allows users to access tight spaces and reach items that would otherwise be out of range from a traditional seated wheelchair. The company says that compact design can also reduce the need for costly home modifications, making it easier for individuals to live and work comfortably in their existing environments. The Tek RMD M1 became available at NSM Canada locations on July 26.
Drive Medical appoints Chrysalis Ashton to lead respiratory clinical affairs
PORT WASHINGTON, N.Y. – Drive Medical has appointed Chrysalis Ashton, MSRC, RRT, as head of respiratory clinical affairs and industry relations to strengthen provider engagement, educational initiatives and industry partnerships. She will also serve as a key advisor across the company’s respiratory business. "Chrysalis has built an impressive career at the intersection of clinical care, compliance, education and advocacy," said Nora Coleman, executive vice president, general counsel and chief compliance officer at Drive Medical. "That experience is increasingly valuable as providers navigate evolving regulatory requirements, quality challenges, and patient needs. Her appointment will strengthen Drive's commitment to integrity, accountability, and clinical excellence." Ashton brings more than 13 years of leadership and management experience in home respiratory care and durable medical equipment. Most recently, she served as compliance officer and education manager at CareLinc Medical, leading initiatives in clinical education, regulatory compliance, operational excellence and business performance. Ashton currently serves as vice chair of the AAHomecare HME/RT Council, chair-elect of the homecare section for the Michigan Society for Respiratory Care, and social media ambassador for the National Board for Respiratory Care. She is also a member of the Advocacy and Government Affairs Committee of the American Association for Respiratory Care (AARC).
Cheelcare to participate in Numotion Commercial Growth Summit
MARKHAM, Ontario – Cheelcare will participate in the Numotion Commercial Growth Summit, Aug. 12-14, in Denver, the company has announced. The Summit brings together clinicians, assistive technology professionals (ATPs), regional decision-makers and industry leaders from across Numotion's network to evaluate mobility technologies, share clinical best practices, and discuss innovations that improve outcomes for wheelchair users. "Being invited to present at Numotion's Commercial Growth Summit reflects the relationships we have built with one of North America's leading mobility providers," said Allan Boyd, vice president of growth, Cheelcare. "Our strategy has been to establish strong clinical credibility and let commercial relationships follow, and this invitation is a direct result of that approach. Beyond showcasing Companion, the Summit provides an opportunity to deepen our relationship across Numotion's network as we continue expanding our portfolio of mobility solutions, including the commercialization of Curio and future innovations designed to improve independence and quality of life for wheelchair users." At the Summit, Cheelcare will present its Companion power assist attachment, a highly configurable solution that it says gives manual wheelchair users the freedom to go farther with less physical strain. The device features patented QuickConnect technology and PDAC verification, supporting reimbursement eligibility under U.S. Medicare and Medicaid.
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