Hammon is tasked with scaling the business while also driving growth, according to a statement announcing his appointment. He will report directly to CEO Dan Greenleaf.
“At Duly Health & Care, our purpose is to deliver exceptional care to the patients we serve every day. Chase has an established track record of success in strategic healthcare leadership,” said Greenleaf. “He will play a pivotal role in positioning our organization for continued profitable long-term growth and value creation for our physicians, clinical care teams, patients, and employees.”
Hammon is just the latest top executive to join Duly in the last year. Greenleaf was quietly named CEO in June 2023 and shortly after shook up the C-suite, a decision that resulted in several top executives, including the CFO and chief operating officer, departing the organization.
By November, after some layoffs and other cutbacks, Duly had added a group of new executives, including a chief value-based care officer and chief accounting officer.
Not a Modern Healthcare subscriber? Sign up today.
Private-equity-backed Duly operates more than 150 locations in Illinois and Indiana. It serves approximately 2.5 million patients and employs 7,000 people, about 1,000 of whom are doctors.
Duly’s revenue grew 28% to $2.5 billion last year, according to data the company previously provided to Crain’s, but as a privately held group, it does not have to publicly disclose full financial performance metrics.
There’s little available insight into Duly’s profitability, but signs of financial distress became clear following two rounds of layoffs last year and an April downgrade by a major bond credit ratings agency. Moody’s Ratings said at the time Duly’s operating performance was deteriorating and that it carried a heavy debt load, partly stemming from its 2017 private-equity investment.
Hammon comes to Duly from the Springfield Clinic in the state capital, where he was also chief financial officer. The Springfield Clinic, an independent, physician-owned group, serves more than 500,000 patients across 100 locations.
Download Modern Healthcare’s app to stay informed when industry news breaks.
Before that, Hammon was CFO at Bon Secours Mercy Health, a Cincinnati-based Catholic hospital chain; health system business operations executive at UT Southwestern Medical Center in Dallas; and manager of finance at Campus Crusade for Christ in Plano, Texas. Hammon also served in the U.S. Army as a supply chain and logistics non-commissioned officer from 2000 to 2009.
“I’m incredibly excited for the opportunity to continue the amazing work of Duly Health & Care,” Hammon said. “Duly’s commitment to the community and the highest quality patient care are second to none, and I’m honored to become part of that legacy.”
Hammon holds degrees from George Mason University and the University of Texas at Dallas.
This story first appeared in Crain's Chicago Business.
