Amedisys CEO steps down as part of strate­gic shift

Modern Healthcare - - NEWS MAKERS -

Who: Wil­liam Borne, 56

Stepped down as: Chair­man, CEO and di­rec­tor of Amedisys, a home health and hospice com­pany in Ba­ton Rouge, La., as part of a re­fo­cus­ing by the com­pany. He will re­main chair­man emer­i­tus.

Re­placed by: In­terim CEO Ron­ald LaBorde, 57, who had been serv­ing as pres­i­dent and CFO. Ex­ec­u­tive search firm Korn Ferry is con­duct­ing a na­tion­wide search for a suc­ces­sor.

Ac­com­plish­ments: Borne, a trained nurse, founded Amedisys in 1982 as a nurse con­sult­ing com­pany. The com­pany opened its first home health cen­ter in 1988 and went pub­lic on the Nas­daq small-cap mar­ket in 1994. Through merg­ers and or­ganic growth, it has ex­panded to serve more than 360,000 pa­tients in about 40 states.

Re­cent strug­gles: As re­im­burse­ment cuts have dragged down earn­ings at Amedisys, the com­pany last year an­nounced it would be­gin di­vest­ing care cen­ters. Last year, it also forged a po­ten­tial $150 mil­lion set­tle­ment with the Jus­tice Depart­ment to set­tle al­le­ga­tions of im­proper self-re­fer­rals. Kohlberg Kravis Roberts & Co., its largest share­holder, sig­naled its in­ten­tion to take a more ac­tivist role in the com­pany and is push­ing Amedisys to name an ex­ec­u­tive from one of its af­fil­i­ates to its board of di­rec­tors. The board be­gan work­ing this year with Bos­ton Con­sult­ing Group, fuel­ing spec­u­la­tion that the com­pany could be a takeover tar­get.

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