PLYMOUTH MEETING, Pa.–(BUSINESS WIRE)–AdaptHealth Corp. (NASDAQ: AHCO), a national leader in providing patient-centered, healthcare-at-home solutions, including home medical equipment, medical supplies and related services, announced today that its Board of Directors has named Crispin Teufel as Chief Executive Officer. Teufel is expected to assume the role on September 1, 2023.
Crispin Teufel, 47, has served as the Chief Executive Officer of Lincare Holdings Inc., a leading national provider of in-home respiratory care with over 700 locations in 48 states, since July 2017. Previously, Mr. Teufel served as the Chief Financial Officer of Lincare from 2013 to 2019 and as a Finance Director for Linde Engineering in Germany from 2011 to 2013. Prior to joining Linde in 2005, Mr. Teufel began his career with financial roles at PWC and Arthur Andersen. Mr. Teufel currently serves on the Board of Directors of Bellerophon Therapeutics, a clinical-stage biotherapeutics company, and as the Chairman of the Board of the German American Chamber of Commerce of the South. Mr. Teufel holds an MBA in Economics from Ruhr University Bochum, Germany, is a Certified Public Accountant and is a German Tax Advisor.
“We are quite pleased to be announcing the appointment of Crispin Teufel as the next Chief Executive Officer of AdaptHealth,” said Mr. Barasch. “Crispin is the ideal candidate to lead AdaptHealth in its mission to transform care by keeping patients healthy in their homes. We are fortunate to have found such an experienced executive with deep industry understanding and a proven track record of success. The Board and I are confident that he will lead this organization to future success.”
“AdaptHealth has established itself as a leader in the industry and I am honored to be assuming the role of CEO at this pivotal time as the company enters the next era of at-home care. Together with the entire Adapt team and Board of Directors, I look forward to leveraging my expertise in the space to foster innovation and deliver value to the Company’s customers and stakeholders,” said Teufel.
As previously announced, current CEO Stephen Griggs will step down effective June 30, 2023 and Richard Barasch, Chairman of the Board, will serve as interim CEO until Mr. Teufel joins the Company. Mr. Barasch will remain Chairman of the Board for AdaptHealth and will provide support through the transition.
About AdaptHealth Corp.
AdaptHealth is a national leader in providing patient-centered, healthcare-at-home solutions including home medical equipment (HME), medical supplies, and related services. The Company provides a full suite of medical products and solutions designed to help patients manage chronic conditions in the home, adapt to challenges in their activities of daily living, and thrive. Product and service offerings include (i) sleep therapy equipment, supplies, and related services (including CPAP and bi PAP services) to individuals suffering from obstructive sleep apnea, (ii) medical devices and supplies to patients for the treatment of diabetes (including continuous glucose monitors and insulin pumps), (iii) HME to patients discharged from acute care and other facilities, (iv) oxygen and related chronic therapy services in the home, and (v) other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy and nutritional supply needs. The Company is proud to partner with an extensive and highly diversified network of referral sources, including acute care hospitals, sleep labs, pulmonologists, skilled nursing facilities, and clinics. AdaptHealth services beneficiaries of Medicare, Medicaid, and commercial insurance payors, reaching more than 3.9 million patients annually in all 50 states.
