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Amedisys President and CEO Chris Gerard is out seven months after taking the top job at the Baton Rouge, Louisiana-based home health and hospice company.<\/p>\n
Gerard’s separation took effect immediately upon its announcement Thursday. Amedisys board chair\u2014and former CEO\u2014Paul Kusserow has taken the helm while the for-profit company searches for Gerard’s replacement.<\/p>\n
Gerard, who succeeded Kusserow on April 15, was “terminated without cause,” the company reported to the Securities and Exchange Commission Thursday.<\/p>\n
\u201cI am looking forward to returning as CEO and building on the excellent foundation we have at Amedisys,” Kusserow said in a news release. “We are going to continue to build upon the foundation that has made Amedisys the best home health company in the industry.\u201d<\/p>\n
Amedisys’ earnings plummeted 43% to $25.6 million during the third quarter compared with the year-ago period, the company reported last month. That followed a 63% decline in net income during the second quarter.<\/p>\n
In October, Amedisys reduced its annual guidance citing COVID-19 challenges and staffing shortages. The company now anticipates its net service revenue will range from $2.22 billion to $2.23 billion compared with earlier projections of $2.29 billion to $2.31 billion.<\/p>\n
During Kusserow\u2019s tenure from 2014 to earlier this year, Amedisys\u2019 market value increased and its business grew tenfold, according to the news release.<\/p>\n
Amedisys has more than 21,000 employees at 547 facilities in 36 states and the District of Columbia and cares for more than 445,000 patients each year, according to the company.<\/p>\n<\/div>\n