Tag: AdaptHealth
In brief: Griggs takes reins, accessories need protection, Humana makes buy
June 18, 2021HME News Staff
PLYMOUTH MEETING, Pa. – Luke McGee has resigned from his positions as co-CEO and director of the board of AdaptHealth, and Stephen Griggs has been named CEO effective immediately.
Griggs, who is also a member of the board, joined AdaptHealth in February as co-CEO following the company’s acquisition of AeroCare Holdings, which he founded and led as president and CEO.
“Steve’s extensive management experience, along with health sector expertise and a proven...
AdaptHealth names Griggs CEO
June 15, 2021HME News Staff
PLYMOUTH MEETING, Pa. – Luke McGee has resigned from his positions as co-CEO and director of the board of AdaptHealth, and Stephen Griggs has been named CEO effective immediately.
Griggs, who is also a member of the board, joined AdaptHealth in February as co-CEO following the company’s acquisition of AeroCare Holdings, which he founded and led as president and CEO.
“Steve’s extensive management experience, along with health sector expertise and a proven...
Gary Sheehan on industry’s shared vision
June 11, 2021Theresa Flaherty, Managing Editor
SANDWICH, Mass. – Just a year after forming through the merger of America's HealthCare at Home, Cape Medical Supply and Health Complex Medical, Spiro Health was acquired by AdaptHealth – and no one was more surprised than CEO Gary Sheehan.
“That was never part of the plan, but life happens,” he said. “We watched the merger of Adapt and AeroCare and have a ton of respect for both senior management teams. So, we took the call to discuss what it might look...
Simplex tapped by network for enteral nutrition
May 18, 2021HME News Staff
AMBLER, Pa. – Simplex Health, a provider of medical nutrition therapies, and Axia Women’s Health, an independent women’s health group, have expanded their partnership to support gestational diabetes patients across Pennsylvania, New Jersey, Indiana, Ohio and Kentucky. As Axia’s trusted partner, Simplex will support gestational diabetes patients by offering nutrition counseling to lower glucose and insulin levels, manage carbohydrate and sugar intake, and more. Simplex will...
AdaptHealth continues brisk pace of acquisitions
May 7, 2021Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – AdaptHealth has made another large acquisition: Spiro Health, giving it 22 locations in eight states where it doesn’t have much of a presence.
The Massachusetts-based Spiro Health was formed in 2020 with the merger of America's HealthCare at Home, Cape Medical Supply and Health Complex Medical, and is headed up by CEO Gary Sheehan.
“We welcome Gary and the entire Spiro team,”...
AdaptHealth reports triple-digit growth
May 6, 2021HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $482.1 million for the first quarter of 2021, an increase of 152% over the same quarter last year.
Adjusted EBITDA was $104.2 million, a 242% increase, and adjusted EBITDA less patient equipment capex was $61.9 million, a 254% increase.
The company reported a net loss of $4 million for the first quarter of this year versus a net loss of $34.6 million for the same period last year.
“I’m...
In brief: AdaptHealth increases credit, Permobil goes Progeo, Alick’s buys Pill Box
April 30, 2021HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth has expanded its credit by $300 million to boost acquisitions and for general corporate purposes.
The company amended its senior secured credit facilities to increase its term loan by $100 million and to expand the maximum borrowing capacity under its revolving credit facility from $250 million to $450 million.
“We appreciate the support of the company’s lenders as we continue to execute on the company’s...
AdaptHealth increases credit line
April 28, 2021HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth has expanded its credit by $300 million to boost acquisitions and for general corporate purposes.
The company amended its senior secured credit facilities to increase its term loan by $100 million and to expand the maximum borrowing capacity under its revolving credit facility from $250 million to $450 million.
“We appreciate the support of the company’s lenders as we continue to execute on the company’s growth strategy,” said...
In brief: AdaptHealth CEO, sequestration relief, HCD funding
April 16, 2021HME News Staff
PLYMOUTH MEETING, Pa. – Luke McGee has been placed on unpaid leave from his roles as co-CEO and director of AdaptHealth after authorities in Denmark formally charged him with alleged tax fraud.
The alleged fraud stems from personal activity that occurred between March 2014 and August 2015, and has no connection to AdaptHealth’s business, according to a statement from the company’s board of directors.
“The board of directors of AdaptHealth takes...
AdaptHealth’s McGee placed on leave
April 14, 2021HME News Staff
PLYMOUTH MEETING, Pa. – Luke McGee has been placed on unpaid leave from his roles as co-CEO and director of AdaptHealth after authorities in Denmark formally charged him with alleged tax fraud.
The alleged fraud stems from personal activity that occurred between March 2014 and August 2015, and has no connection to AdaptHealth’s business, according to a statement from the company’s board of directors.
“The board of directors...