Privia Health said CEO Shawn Morris is stepping down but will remain on its board of directors.
Parth Mehrotra, president and chief operating officer of the physician enablement company, will take over as CEO July 1.
Morris has been CEO of the company since 2018 and led it through its initial public offering in April 2021. Prior to this role, he was an executive at health insurer Cigna.
Arlington, Virginia-based Privia Health is one of the few digital health companies to see its share price increase after going public at $23 per share. Shares were trading near $28 Wednesday morning.
Privia Health operates in 12 states and Washington, D.C. Its business relies on provider partnerships that aim to funnel patients into value-based care contracts. The company supports its provider partners with a population health platform for that transition.
In February, the company reported fourth-quarter net income of $17.8 million, or 14 cents per share, compared with a net loss of $12 million, or 11 cents per share, in the year-ago period.
Mehrotra has been with the company since 2018. Previously, he was chief operating officer of Brighton Health Group, the parent company of Privia Health before Privia’s IPO.
This story first appeared in Digital Health Business & Technology.