Tag: AdaptHealth

PLYMOUTH MEETING, Pa. – AdaptHealth and Crispin Teufel have agreed to terminate Teufel’s employment contract.  The company had appointed Teufel as CEO in June, with a start date of Sept. 1, but he was sued in August by former employer Linde, which was seeking to block his appointment for an unspecified time. In the lawsuit, Linde alleged breach of contract, breach of duty of loyalty and misappropriation of trade secrets.   In a filing in late August with the U.S....

PLYMOUTH MEETING, Pa. – AdaptHealth and Crispin Teufel have agreed to terminate Teufel’s employment contract.  The company had appointed Teufel as CEO in June, with a start date of Sept. 1, but he was sued in August by former employer Linde, which was seeking to block his appointment for an unspecified time. In the lawsuit, Linde alleged breach of contract, breach of duty of loyalty and misappropriation of trade secrets.   In a filing in late August with the U.S....

PLYMOUTH MEETING, Pa. – Crispin Teufel won't take the reins as AdaptHealth’s new CEO until at least October amid efforts by his former employer to block the move, according to online news reports. In a filing with the U.S. Securities and Exchange Commission, AdaptHealth said a U.S. District Court issued a temporary restraining order preventing Teufel from starting his employment with AdaptHealth until Oct. 15. Lincare filed a lawsuit in Connecticut district court against Teufel,...

CLEARWATER, Fla. - Lincare has filed a lawsuit in Connecticut district court against former CEO Crispin Teufel, who plans to join competitor AdaptHealth on Sept. 1, for breach of contract, breach of duty of loyalty and misappropriation of trade secrets.  Lincare seeks a temporary restraining order, preliminary and permanent injunctive relief, damages and attorney fees.  “Since defendant’s resignation, plaintiffs have uncovered evidence demonstrating that defendant used...

PLYMOUTH MEETING, Va. – AdaptHealth’s respiratory and sleep product lines grew a combined 15% year-over-year in the second quarter, boosted by strong new patient setups.  The sleep business was especially strong in the quarter, with a 41% increase in patients and a 16% increase in revenues to $303 million. Resupply orders increased 11%.  “The investments we've made in this business line over the past year are now paying off,” said Richard Barasch, chairman...

PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $793.3 million for the second quarter 2023, compared to $727.6 million during the same period in 2022, an increase of 9%.  Net income was $14 million and adjusted EBITDA was $171 million.  “We are pleased to report solid results in the second quarter driven by continued strength in our core sleep and respiratory product lines,” said Richard Barasch, chairman and interim CEO. “We have spent considerable...

We’ve burned through the first half of 2023 already and what do we have to show for it?  If the most read stories from January through June are any indication, it’s disruption, innovation and growth.  Let’s start with disruption. It has come in a number of forms in 2023, including one of the HME industry’s legacy manufacturers, Invacare, filing for bankruptcy. We posted a story about that to our website in February, and it remains the most read story of the...

PLYMOUTH MEETING, Pa. - AdaptHealth’s board of directors has named Lincare’s Crispin Teufel as its next CEO.  Teufel, who has served as CEO of Lincare since July 2017, is expected to assume his role at AdaptHealth on Sept. 1.  “We are quite pleased to be announcing the appointment of Crispin Teufel as the next CEO of AdaptHealth,” said Richard Barasch, chairman of the board. “Crispin is the ideal candidate to lead AdaptHealth in its mission to transform...

PLYMOUTH MEETING, Pa. - AdaptHealth’s board of directors has named Lincare’s Crispin Teufel as its next CEO.  Teufel, who has served as CEO of Lincare since July 2017, is expected to assume his role at AdaptHealth on Sept. 1.  “We are quite pleased to be announcing the appointment of Crispin Teufel as the next CEO of AdaptHealth,” said Richard Barasch, chairman of the board. “Crispin is the ideal candidate to lead AdaptHealth in its mission to transform...

As we were putting the finishing touches on this June issue, news broke that Humana has contracted with AdaptHealth and Rotech Healthcare, two national HME providers, to provide HME products and services to its Medicare Advantage HMO members.  This is a big deal for a whole lotta reasons.  We’ve all read the headlines. Insurers are increasingly targeting Medicare Advantage plans as a source of growth. Last year, Humana outlined plans to expand its Medicare HMO offerings, specifically,...