AdaptHealth Corp. Appoints Andy Palan as Chief Technology Officer

PLYMOUTH MEETING, Pa.–(BUSINESS WIRE)–AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), the third largest provider of home medical equipment (“HME”) in the United States, today announced the appointment of Andy Palan as its first Chief Technology Officer.

Mr. Palan brings to AdaptHealth more than 15 years of senior-level healthcare technology experience, including CVS Health (Head of Technology Strategy, Architecture & Innovation and Chief Technology Officer), Intarcia Therapeutics (Chief Business Technology & Information Officer), Accolade (Chief Information Officer), and Accenture (Senior Manager, Technology & Strategy). Prior to his executive experience, Palan spent 11 years as an officer in the United States Marine Corps.

Throughout his career, Mr. Palan has helped create and deploy scalable information technology (“IT”) solutions that address critical business needs in the front- and back-office, sales and marketing, finance, and acquisitions, including mobile app development and adoption, business transformation initiatives, and technology integrations.

At AdaptHealth, Mr. Palan will be responsible for the Company’s enterprise-wide IT platform and spearhead the development of digital-first technology solutions that drive operational improvements, enhance efficiencies, heighten customer experience, and support M&A.

“AdaptHealth is a leader in the home medical equipment industry and I am honored to join the experienced team to further reimagine and enhance customer experiences from end-to-end,” said Mr. Palan. “I look forward to harnessing and leveraging business and IT best-practice solutions that improve how we operate today, while exploring applications of automation, analytics, lean supply chain, connected home, and digital business platforms.”

“We are excited to have Andy join our team,” said Josh Parnes, President of AdaptHealth. “We continue focus on applying technology to support our continued growth, build operational efficiencies, deliver enhanced value to our healthcare partners, and enrich our patient experience. We expect that Andy’s experience will help lead the next wave of digital transformation at AdaptHealth and we look forward to creating a digital-first HME company.”

Mr. Palan earned an M.S. in Systems Engineering & Information Technology Management from the U.S. Naval Postgraduate School and a B.A. in Communications from the University of Missouri. He serves as a board Director at the Green Electronics Council, Lighthouse Health & Wellness, and local civic non-profits.

About AdaptHealth Corp.

AdaptHealth Corp. is the third largest provider of home medical equipment in the United States. AdaptHealth provides a full suite of medical products and solutions designed to help patients manage chronic conditions in the home, adapt to life and thrive. Product and services offerings include sleep therapy equipment (CPAP and BiPAP machines and supplies), respiratory equipment (including oxygen, invasive and non-invasive ventilation), mobility equipment, wheelchairs, walkers, and hospital beds. AdaptHealth also provides diabetic supplies, custom bracing services, hospice focused HME services, wound therapy and nutritional HME services. 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. Following the acquisition of PCS in January 2020, AdaptHealth services over 1.4 million patients annually in all 50 states through its network of 187 locations. Learn more at www.adapthealth.com.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations. These statements are based on various assumptions and on the current expectations of Company management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including the outcome of judicial and administrative proceedings to which the Company may become a party or governmental investigations to which the Company may become subject that could interrupt or limit the Company’s operations, result in adverse judgments, settlements or fines and create negative publicity; changes in the Company’s clients’ preferences, prospects and the competitive conditions prevailing in the healthcare sector. A further description of such risks and uncertainties can be found in the Company’s filings with the Securities and Exchange Commission. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently knows or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause the Company’s assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts

AdaptHealth Corp.

Brittany Lett

Vice President, Marketing

(909) 915-4983

blett@adapthealth.com

The Equity Group Inc.
Devin Sullivan

Senior Vice President

(212) 836-9608

dsullivan@equityny.com

Kalle Ahl, CFA

Vice President

(212) 836-9614

kahl@equityny.com

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