Revenue-cycle firm Accretive Health
has named Peter Csapo CFO and treasurer.
Csapo, 43, started his tenure Tuesday. He joins a company that is facing several financial challenges, including a delisting from the New York Stock Exchange
and still-to-be-determined restatements of its finances.
Previously, Csapo was the CFO of VHA, a group purchasing organization based in Irving, Texas, for two years. From October 2004 through January 2011, he also was the CFO of McKesson Health Solutions—the former employer of Accretive CEO Dr. Emad Rizk
. Rizk took the helm of Accretive in July, and many observers in the industry said he faces steep challenges
to stabilize the company, which provides full-service outsourcing for revenue cycle and population health.
“After 16 years of working with hospitals and health plans, I look forward to capitalizing on my experience to evolve Accretive Health's financial processes and systems to set us up for our journey to sustained growth and profitability,” Csapo said in a news release
. “Emad and I made a great team when we worked together before, and it will be a privilege to have the opportunity to work with him again in this leadership capacity.”
Csapo replaced Sean Orr, who had been Accretive's CFO since August 2013 amidst a management overhaul. Orr is staying with the company as senior VP of finance.
According to a filing with the Securities and Exchange Commission
, Accretive will pay Csapo a base salary of $470,000, stock options and bonuses of up to 80% of his salary.Follow Bob Herman on Twitter: @MHbherman