Agiliti Announces CEO Transition
October 02 2023 - 7:00AM
Business Wire
Tom Leonard returns as Chief Executive
Officer
Agiliti, Inc. (NYSE: AGTI) (“Agiliti”), a nationwide provider of
medical technology management and service solutions to the
healthcare industry, today announced that the Agiliti Board of
Directors has appointed Tom Leonard as Chief Executive Officer.
Leonard succeeds Tom Boehning who is no longer with the
company.
Leonard previously served as CEO of Agiliti from April 2015
until his retirement from the company in March 2023. He served as a
member of the company’s Board of Directors following his retirement
and will remain a Board member as he returns to the role of
CEO.
“Tom Leonard led the company through eight years of profitable
growth and helped establish Agiliti as an essential partner to more
than 10,000 healthcare provider organizations nationwide,” said
John Workman, Chairman of the Board. “He is a trusted and proven
leader, admired for his track record of results and his commitment
to the company’s mission, culture and team. We are confident that
Agiliti will benefit from his leadership.”
“I am honored to return to Agiliti and to rejoin this incredible
team as CEO,” said Leonard. “Agiliti has long served a critical
role in our nation’s healthcare system, powered by a differentiated
offering that has proved essential to improving our customers’
clinical, operational, and financial outcomes. We will build on our
strong foundation and capabilities as we chart our path
forward.”
“During his initial tenure as CEO, Tom Leonard and his team
oversaw the strategic and cultural transformation of the business,
demonstrating its extraordinary runway for growth,” said Scott
Sperling, Agiliti Board member and Co-Chief Executive Officer of
Thomas H. Lee Partners, the company’s largest shareholder. “Under
his leadership, we believe Agiliti will be well positioned to
create meaningful value for customers and shareholders. With this
transition, we thank Tom Boehning for his contributions to the
business throughout his four years of service to Agiliti, and
notably for his leadership and dedication to customers during the
demanding years of the Covid-19 pandemic.”
Tom Leonard has been a member of the Board of Directors of
Agiliti since April 2015 and served as CEO of Agiliti from April
2015 to March 2023. Prior to joining Agiliti, he was President of
the Medical Systems business segment at CareFusion, now Becton
Dickinson. He also served as Senior Vice President and General
Manager of Ambulatory Solutions for McKesson Provider Technologies,
and prior to that, Executive Vice President of Operations for
Picis, Inc. Leonard holds a bachelor’s degree in Engineering from
the United States Naval Academy and an MBA from the S.C. Johnson
Graduate School of Management at Cornell University.
About Agiliti Agiliti is an essential service provider to
the U.S. healthcare industry with solutions that help support a
more efficient, safe and sustainable healthcare delivery system.
Agiliti serves more than 10,000 national, regional and local acute
care and alternate site providers across the U.S. For more than
eight decades, Agiliti has delivered medical equipment management
and service solutions that help healthcare providers reduce costs,
increase operating efficiencies and support optimal patient
outcomes.
Forward-Looking Statements Safe Harbor Statement under
the Private Securities Litigation Reform Act of 1995: Certain
statements in this press release are forward-looking in time,
including statements regarding the benefits from the CEO
transition, potential value generation, growth and strategy, and
these statements involve risks and uncertainties. The following
factors, among others, could adversely affect our business,
operations and financial condition causing our actual results to
differ materially from those expressed in any forward-looking
statements: negative reaction of our investors, our suppliers, our
customers or our employees to our leadership transition; market
volatility of our common stock as a result of our leadership
transition; the risk that the leadership transition may not provide
the results that the company expects; imbalances in our selling
mix; effects from political and policy changes that could limit our
growth opportunities; cancellations by or disputes with customers;
effects of a global economic downturn on the company, our customers
and suppliers; competitive practices by our competitors that could
cause us to lose market share, reduce our prices or increase our
expenditures; consolidation in the healthcare industry; adverse
developments with supplier relationships; our potential inability
to attract and retain key personnel; our need for substantial cash
to operate and expand our business as planned; our substantial
outstanding debt and debt service obligations; restrictions imposed
by the terms of our debt; a decrease in the number of patients our
customers are serving; our ability to effect change in the manner
in which health care providers traditionally procure medical
equipment; the absence of long-term commitments with customers; our
ability to renew contracts with group purchasing organizations and
integrated delivery networks; changes in reimbursement rates and
policies by third-party payors; the impact of health care reform
initiatives; the impact of significant regulation of the health
care industry and the need to comply with those regulations;
difficulties or delays in our continued expansion into certain of
our businesses/geographic markets and developments of new
businesses/geographic markets; additional credit risks in
increasing business with home care providers and nursing homes,
impacts of equipment product recalls or obsolescence; increases in
vendor costs that cannot be passed through to our customers; and
other Risk Factors as detailed in our most recent annual report on
Form 10-K.
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Solebury Strategic Communications IR@agilitihealth.com
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