AdaptHealth names Griggs CEO

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 record building high-growth companies, has already been instrumental in bolstering AdaptHealth’s growth trajectory,” said Richard Barasch, chair of the board. “The board has complete confidence in his ability to lead the company to even greater success as CEO.” 

McGee was placed on unpaid leave in April after authorities in Denmark formally charged him with alleged tax fraud. 

A special committee of independent directors, established by the board, had retained DLA Piper, an independent law firm, to conduct an investigation into any connection between McGee’s private activities and AdaptHealth. The firm reported to the committee on June 11 that its investigation is substantially complete and that it could state with a high degree of confidence that the company had no involvement in, or connection to, McGee’s alleged conduct. 

Griggs said he looks forward to leading AdaptHealth with “some of the best management talent in the business,” including President Josh Parnes, CFO Jason Clemens and others. 

“AdaptHealth has never been stronger and with the integration of AeroCare firmly on course, we can focus our full attention on delivering strong organic growth in our core business, enhancing our role in chronic disease management and deploying capital on strategic M&A opportunities,” he said.