Volume for Accretive Health saw a slight boost on Thursday after the company announced its new CEO.
Board of Directors has appointed Joseph Flanagan, currently President and Chief Operating Officer of Accretive Health, as President, Chief Executive Officer and member of the Board, effective immediately.
This means Dr. Emad Rizk, former CEO and member of board, is on his way out. The Board of Directors have mutually agreed for Dr. Rizk to step down from his positions but he will be available over the next several weeks to help ensure a smooth transition.
The Board believes Mr. Flanagan is the ideal choice to accelerate the growth and scaling of the Company as it begins its next phase of expansion.
Currently Accretive provides revenue cycle management and physician advisory solutions for hospitals and healthcare providers in the United States.
“The Board is positioning Accretive Health to maximize growth and value by building on a strong operational foundation that includes great talent, an unparalleled technology platform, a strong financial position with resources to invest in growth and value generation, and unique operational capabilities to deliver upon and extend beyond our substantial committed growth with Ascension,” said Steve Shulman, Chairman of Accretive Health’s Board of Directors. “Joe Flanagan is an action-oriented, world-class operations expert who takes a performance-based approach and demands accountability, making him the perfect leader to leverage Accretive’s strong position to generate greater growth and value.”
Disclaimer: We have no position in Accretive Health, Inc. (OTC:ACHI) and have not been compensated for this article.