Accretive Health Names Emad Rizk, M.D. as President and CEO

  Accretive Health Names Emad Rizk, M.D. as President and CEO

  Steve Schuckenbrock to resign as President and CEO effective July 21, 2014

Business Wire

CHICAGO -- July 10, 2014

Accretive Health, Inc. (OTC Pink: ACHI) today announced that its Board of
Directors has appointed Emad Rizk, M.D., president of McKesson Health
Solutions, as Chief Executive Officer, President, and a member of the Board of
Directors, effective July 21, 2014.

In its search for a new CEO, the Board sought a candidate with leadership
experience, a passion for operational excellence, a proven track record for
growth and deep healthcare domain expertise to lead the company through its
next phase of operational enhancement, and to reignite the company’s growth
and strategic innovation.

“The Board was very strategic about finding the right person to become our new
CEO – Emad is that person,” said Steve Shulman, chairman of Accretive Health’s
Board of Directors. “He is a renowned healthcare industry expert who brings
with him more than 25 years of experience, and at the same time has
demonstrated a profound ability to drive growth and innovation.”

Since 2003, Dr. Rizk has served as president of McKesson Health Solutions, a
division of McKesson Corporation. As president of this division, he built a
world-class team and oversaw significant growth, with a focus on helping
providers and payers implement new delivery and financial payment processes as
the healthcare industry transitions from volume- to value-based care. During
his tenure, he built an organization that became a leader in the healthcare
industry.

Prior to joining McKesson, Dr. Rizk served as senior partner and global
director of Deloitte Consulting, prior to which he was worldwide medical
director for Monsanto Corporation. He also currently serves on the board of
Accuray Incorporated. In 2013, Dr. Rizk was named one of the 50 Most
Influential Physician Executives in the United States by Modern Physician, the
fifth time he has been recognized by this publication. He has also been
counted among the Top 100 Most Powerful People in Healthcare by Modern
Healthcare; and named one of the nation’s Top 25 Leaders in Disease Management
by Managed Healthcare Executive.

“I am very honored by the trust the Accretive Health Board of Directors has
placed in me, and excited about the opportunities and potential of Accretive
Health,” said Dr. Rizk. “I have spent the better part of my career
identifying, assessing, developing and achieving significant strategic
potential in the healthcare ecosystem. Accretive Health represents that kind
of potential to me.”

“Accretive Health has the right fundamentals, the right vision, the right
talent and the right positioning to grow, prosper, lead and make a real
difference in people’s lives,” added Steve Schuckenbrock, current CEO of
Accretive Health, who accelerated his resignation from the position of CEO to
be effective July 21, 2014 but will continue to assist with the transition
through October 2, 2014, as well as continue to serve on the Company’s Board
of Directors. “We have strengthened our operational execution over the last 15
months with a dedicated focus on our clients, invested more in technology than
ever before, improved how we develop employees, and strengthened the company
overall.”

“I want to thank Steve for the many contributions he has made to this Company.
Since joining Accretive Health, he developed a strategy and set the Company on
a course that will serve us well in the future. We sit on a stronger
foundation because of Steve’s leadership, and I’m personally very happy that
he will remain on the Board and be involved in this transition,” said Shulman.
“Accretive Health will continue to pursue its vision to build a world-class
revenue cycle management company that enhances our value proposition to our
client partners through continuous innovation and a unique population health
management strategy.”

Conference Call

Accretive Health will host a conference call at 5:00 p.m. Eastern Daylight
Time (EDT) on July 21, 2014 to discuss Dr. Rizk’s appointment. To access the
call, go to the Investors page at www.accretivehealth.com or dial (877)
280-4955 or (857) 244-7312, passcode 74068028. An audio replay will also be
available at the Investors page of http://www.accretivehealth.com.

Safe Harbor

This press release contains forward-looking statements, including statements
regarding the success of Accretive Health under its new CEO, the success of
Accretive Health’s turnaround and operational plan, and statements regarding
Accretive Health’s strategic initiatives. All forward-looking statements
contained in this press release involve risks and uncertainties. The Company’s
actual results and outcomes could differ materially from those anticipated in
these forward-looking statements as a result of various factors, including the
possibility that the ongoing restatement could have unanticipated consequences
and the factors set forth in the Company’s Quarterly Report on Form 10-Q for
the quarter ended September 30, 2012, filed with the SEC on November 8, 2012,
under the heading “Risk Factors”. The words “strive,” “objective,”
“anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,”
“projects,” “vision,” “would,” and similar expressions are intended to
identify forward-looking statements, although not all forward-looking
statements contain these identifying words. The Company has based these
forward-looking statements on its current expectations and projections about
future events. Although the Company believes that the expectations underlying
any of its forward-looking statements are reasonable, these expectations may
prove to be incorrect and all of these statements are subject to risks and
uncertainties. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions, projections, or expectations
prove incorrect, actual results, performance, financial condition, or events
may vary materially and adversely from those anticipated, estimated, or
expected.

All forward-looking statements included in this press release are expressly
qualified in their entirety by these cautionary statements. The Company
cautions readers not to place undue reliance on any forward-looking statement
that speaks only as of the date made and to recognize that forward-looking
statements are predictions of future results, which may not occur as
anticipated. Actual results could differ materially from those anticipated in
the forward-looking statements and from historical results, due to the
uncertainties and factors described above, as well as others that the Company
may consider immaterial or does not anticipate at this time. Although the
Company believes that the expectations reflected in its forward-looking
statements are reasonable, the Company does not know whether its expectations
may prove correct. The Company’s expectations reflected in its forward-looking
statements can be affected by inaccurate assumptions it might make or by known
or unknown uncertainties and factors, including those described above. The
risks and uncertainties described above are not exclusive, and further
information concerning the Company and its business, including factors that
potentially could materially affect its financial results or condition or
relationships with customers and potential customers, may emerge from time to
time. The Company assumes no, and it specifically disclaims any, obligation to
update, amend, or clarify forward-looking statements to reflect actual results
or changes in factors or assumptions affecting such forward-looking
statements. The Company advises investors, however, to consult any further
disclosures it makes on related subjects in our periodic reports that it files
with or furnishes to the SEC.

About Accretive Health

At Accretive Health, our mission is to partner with healthcare communities to
serve as a catalyst for a healthier future for all. For more information,
visit www.accretivehealth.com.

Contact:

Accretive Health, Inc.
Investor Relations:
Atif Rahim
312-324-5476
investorrelations@accretivehealth.com
or
Media Relations:
Brian Pitts
312.475.5921
brian.pitts@hkstrategies.com
 
Press spacebar to pause and continue. Press esc to stop.