Accretive CEO steps down

Accretive Health board member and CEO Emad Rizk, MD, has stepped down from his positions.

Accretive, a revenue cycle services and physician advisory services provider, has chosen Joseph Flanagan to succeed Dr. Rizk. Accretive's board of directors appointed Mr. Flanagan as president, CEO and member of the board, and he will begin his new roles immediately. Dr. Rizk will help assist with the transition over the next few weeks.  

Regarding the leadership change, Steve Shulman, chairman of Accretive's board of directors, said, "Joe Flanagan is an action-oriented, world-class operations expert who takes a performance-based approach and demands accountability, making him the perfect leader to leverage Accretive's strong position to generate greater growth and value."

Mr. Flanagan joined Accretive as COO in April 2013 after serving as senior vice president of worldwide operations and supply chain at Applied Materials in Santa Clara, Calif.

The leadership shakeup comes less than six months after St. Louis-based Ascension Health and TowerBrook Capital Partners agreed to invest $200 million in Accretive. Under the contract, which was finalized in February, Accretive will exclusively provide revenue cycle and physician advisory services to Ascension's hospitals.

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