Modifications continued at the not-yet-completed Coram Healthcare Corp. last week after the company named Chairman James Sweeney its new chief executive officer.
He replaces Curaflex Chairman Charles Laverty, who was reassigned to the position of senior executive vice president. Mr. Laverty will continue to play an important role within Coram, the company said.
The move underscores Mr. Sweeney's role as the central figure behind the new home-infusion powerhouse, which he helped create last February while acting as a consultant in the sale of troubled home infusion firm T2 Medical.
Industry observers said they expected Mr. Sweeney to receive a greater stake in the company by accepting the new position. Mr. Laverty was expected to receive an annual base salary of $450,000 as president and CEO of Coram, according to a proxy statement filed with the Securities and Exchange Commission.
The decision to elevate Mr. Sweeney apparently was made after the proxy was prepared.
In February, home infusion firms T2 Medical, Curaflex Health Services, HealthInfusion and Medisys merged in a four-way deal valued at $550 million (Feb. 14, p. 32).