Adeptus Health (ADPT) CEO Hall Retires Early

November 8, 2016 6:31 AM EST

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Adeptus Health Inc. (NYSE: ADPT) announced that Gregory W. Scott, who was recently appointed Chairman of the Board of Directors, has been appointed interim Chief Executive Officer effective immediately, following the resignation of Thomas S. Hall. In September, Mr. Hall informed the Board of his plans to retire by mid-2017. Given the recent challenges at the Company, Mr. Hall decided to accelerate his retirement.

Mr. Richard Covert, Vice Chairman of Adeptus Health, said, "In light of the current challenges Adeptus is experiencing, the Board is pleased that Greg has agreed to take on this executive leadership role. Greg's experience in the healthcare industry and his knowledge of Adeptus have already been helpful as we work to fix some of the near-term issues and determine new initiatives to put the company back on the right track. The Board is committed to taking all appropriate steps to ensure we successfully address the issues facing the Company and realize the full potential that we are confident exists, while driving shareholder value."

Mr. Scott said, "I remain a firm believer in Adeptus, in our team, and in the Company's ability to drive value for our shareholders as well as improve access to emergency medical care in the communities we serve. Notwithstanding our recent financial and operational challenges, Adeptus continues to benefit from a unique market opportunity. I am focused on ensuring that we address the challenges that have impacted our results and financial foundation so that Adeptus delivers the growth and returns that we and our stakeholders expect."

Adeptus noted that the previously announced search process for a new Chief Executive Officer is ongoing. The Board has retained Heidrick & Struggles, a leading executive search firm, to assist in the process.

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