The president and chief operating officer of Texas-based Adeptus Health is the latest executive out the door at the nation’s largest operator of freestanding emergency facilities, reports The Dallas Morning News.
Graham Cherrington is the second executive to leave the embattled company suddenly in recent months, following a disappointing $11.7 million loss in third quarter. He follows longtime chief executive officer Thomas Hall, whose retirement was accelerated to November, writes reporter Sabriya Rice.
“The company went public with its freestanding emergency room model in June 2014, and now operates more than 90 facilities across the United States. In 2015 it generated $365 million in revenue,” she writes. “Shares plummeted in November following the disappointing loss and an unexpected request to secure $27.5 million in emergency financing from investors.”