Agility Health Inc.
TSX VENTURE : AHI

Agility Health Inc.

May 09, 2017 08:00 ET

Agility Health Announces Appointment of Patrick J. Reid as Chief Financial Officer

GRAND RAPIDS, MICHIGAN--(Marketwired - May 9, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Agility Health, Inc. (TSX VENTURE:AHI) ("Agility Health" or, the "Company"), a leading provider of physical rehabilitation services, orthotics, prosthetics, foot care services and software services, today announced the appointment of Patrick J. Reid as Chief Financial Officer of the Company. Reid will succeed Gene Miyamoto, who has been serving as interim CFO since July 2016.

"Patrick is an accomplished healthcare executive with significant financial and operational expertise, including as a CFO, and will be an exceptional addition to our team," said Pierre G. Gagnon, Chairman and Interim CEO, Agility Health. "Patrick's broad business and healthcare experience, which encompasses debt management, revenue cycle oversight, treasury management, financial reporting and M&A, will be an asset to us in implementing a significantly streamlined, more cost-effective operating model, while enabling us to focus on our highest-potential growth opportunities."

Reid comes to Agility Health with more than 20 years of finance experience having held CFO positions at several organizations. Reid was most recently Vice President, Physician Services at Mary Free Bed Rehabilitation Hospital, where he was responsible for operations, finance, and strategic initiatives with other healthcare entities. Prior to that, Reid was Chief Executive Officer/Chief Financial Officer at Orthopaedic Associates of Michigan, P.C. ("OAM"), the largest independent orthopaedic practice in the state of Michigan with over 30 orthopaedic physicians generating $70M in revenue. At OAM, Reid was responsible for debt management of all related entities including lender relationships, debt terms, and cash flow management; oversight of monthly financial statement preparation and presentation to the Board of Directors; contracting with payors and the oversight of the entire revenue cycle process; and leading the establishment of bundled payments with Medicare.

About Agility Health

Through its U.S. subsidiary and principal operating entity, Agility Health, LLC, Agility Health operates a multi-state network of outpatient rehabilitation clinics and provides contracted services to hospitals, nursing homes and other institutional clients, providing care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and a variety of other injuries and conditions. In addition, Agility Health provides a number of ancillary services related to physical rehabilitation, including practice management software systems and custom orthotics. As of January 1, 2017, Agility Health operates 84 outpatient or onsite rehabilitation locations in 14 states. Agility Health's contract therapy services business provides rehabilitative services to 36 hospitals and inpatient rehabilitation units and 37 nursing homes, long-term care facilities and other service locations in 11 states.

In Canada, Medic Holdings Corp., Agility Health's primary Canadian subsidiary, operates twelve (12) foot care clinics and manufactures orthotics and prosthetics.

For more information, please visit www.agilityhealth.com

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