25.09.2007 20:00:00
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AmSurg Names Healthcare Industry Veteran Chris Holden President and CEO Effective October 1st
AmSurg Corp. (NASDAQ: AMSG) today announced that Christopher A. Holden
will join the Company effective October 1, 2007, as the Company’s
President and Chief Executive Officer. His appointment completes an
extensive and thorough search for a successor to Ken P. McDonald, the
Company’s current President and CEO. Mr.
McDonald will continue to be a member of AmSurg’s
Board of Directors and as the Company’s
immediate past President and CEO, will remain with the Company to assist
Mr. Holden in accomplishing a smooth and rapid transition.
Mr. Holden is a healthcare industry veteran of more than 21 years,
engaged during most of his career directly in multi-facility and
multi-market healthcare management. A founding team member and officer
of Triad Hospitals Inc. in 1999, he most recently was a Division
President with operating responsibility for hospitals and related
entities, including ambulatory surgery centers, located across the
United States with more than $1 billion in aggregate annual revenues and
over 4,000 employees. Prior to the founding of Triad, he served in
positions of increasing responsibility with Columbia/HCA Healthcare
Corporation for nearly five years, including Division President. In
addition, he also was previously involved in hospital administration
with National Medical Enterprises for five years. Mr. Holden received
his Bachelor of Science degree in Health Policy and Administration from
The University of North Carolina and his Juris Doctorate and Masters in
Healthcare Administration degrees from Washington University in St.
Louis.
Mr. McDonald commented, "We are delighted to
announce the appointment of Chris Holden to assume my responsibilities
as President and CEO. Over the past two decades, Chris has built deep
expertise in developing, managing and expanding multi-region healthcare
facility networks within the framework of a public company environment.
He has demonstrated his ability to produce sustained financial growth
through both organic growth and acquisition, while achieving patient,
employee and physician satisfaction levels that are among the best in
the industry. We are confident that Chris is the right person to lead
AmSurg to continued profitable growth and the long-term expansion of
shareholder value. We welcome him to AmSurg and I look forward to
working with him throughout the transition process.”
Mr. Holden remarked, "It is an honor and
privilege for me to follow Ken McDonald at AmSurg. Ken and his team
deserve great credit for building such a strong company with a deserved
reputation for high quality and integrity. Today, AmSurg is recognized
as a market leader and is well positioned for continued growth with an
array of strategic possibilities. It is with pleasure that I anticipate
working with AmSurg’s team, its Board and its
physician partners to lead AmSurg through its next chapters of growth
and evolution.”
This press release contains forward-looking statements. These
statements, which have been included in reliance on the "safe
harbor” provisions of the Private Securities
Litigation Reform Act of 1995, involve risks and uncertainties.
Investors are hereby cautioned that these statements may be affected by
the important factors, among others, set forth in AmSurg’s
Annual Report on Form 10-K for the fiscal year ended December 31, 2006,
and other filings with the Securities and Exchange Commission, including
the following risks: changes in the reimbursement system for outpatient
surgical procedures under the Medicare program; the risk that payments
from third-party payors, including government healthcare programs, may
decrease or not increase as the Company’s
costs increase; the Company’s ability to
maintain favorable relations with its physician partners; the Company’s
ability to acquire and develop additional surgery centers on favorable
terms; the Company’s ability to grow revenues
at its existing centers; the Company’s
ability to manage the growth in its business; the Company’s
ability to obtain sufficient capital resources to complete acquisitions
and develop new surgery centers; the Company’s
ability to compete for physician partners, managed care contracts,
patients and strategic relationships; risks associated with weather and
other factors that may affect the Company’s
surgery centers located in Florida; the Company’s
failure to comply with applicable laws and regulations; the risk of
changes in legislation, regulations or regulatory interpretations that
may negatively affect the Company; the risk of becoming subject to
federal and state investigation; the risk of regulatory changes that may
obligate the Company to buy out interests of physicians who are minority
owners of its surgery centers; risks associated with the Company’s
status as a general partner of limited partnerships; the Company’s
legal responsibility to minority owners of its surgery centers, which
may conflict with its interests and prevent it from acting solely in its
best interests; risks associated with the write-off of the impaired
portion of intangible assets; and risks associated with the tax
deductibility of goodwill. Consequently, actual results, performance or
developments may differ materially from the forward-looking statements
included above. AmSurg disclaims any intent or obligation to update
these forward-looking statements.
AmSurg Corp. develops, acquires and manages physician practice-based
ambulatory surgery centers in partnership with surgical and other group
practices. At June 30, 2007, AmSurg owned a majority interest in 165
continuing centers in operation and had four centers under development.
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