Tag: Luke McGee
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...
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’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...
AdaptHealth sits ‘above high water’ in 2021
March 5, 2021Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – AdaptHealth posted a record-breaking year in 2020 and its acquisition of AeroCare in February sets up the company for accelerated growth in 2021, execs said on a recent earnings call.
AdaptHealth reported net revenue of $348.4 million for the fourth quarter of 2020, a 133% increase compared to the same period in 2019, and $1.06 billion for the full year, a 99% increase compared to 2019.
“Our patient’s home health needs have only grown throughout...
Earnings round-up: AdaptHealth, Viemed report increases in 1Q 2020
May 5, 2020HME News Staff
PLYMOUTH MEETING, Pa. - AdaptHealth reported net revenue of $191.4 million for the first quarter of 2020, a 60% increase over the same quarter one year ago.Patient Care Solutions, which the company closed on in January, generated net revenue of $33.9 million.The company reported that net loss for the quarter was $0.2 million compare to $5.8 million in the first quarter of 2019. Adjusted EBITDA was $17.5 million."Despite significant and sudden challenges brought on by the COVID-19 pandemic, our strong...
AdaptHealth announces high-profile merger
July 12, 2019Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. - In the nearly 10 years that the HME industry has grappled with competitive bidding, AdaptHealth, formerly QMES, has found a way to grow, leading up to last week's news that it's combining with DFB Healthcare Acquisitions Corp. and becoming a public company.The combined company, which will go by AdaptHealth Holding Corp. and which will be listed on the NASDAQ under a new ticker symbol, will have a value of $1 billion and a market capitalization of about $800 million.“Adapt...
QMES secures more financing
June 2, 2017HME News Staff
NEW YORK - HME platform company QMES has obtained a second round of financing from CIT Group.QMES, a DME provider in the Northeast, will use the $65 million secured senior credit facility to refinance legacy debt and support growth, according to a press release.“QMES's active M&A growth strategy has led to the successful completion and integration of more than 15 acquisitions and they currently serve over 100,000 patients annually,” said William Douglass, managing director and group head...