Accretive Health Names Peter Csapo as CFO and Treasurer

Sean Orr to Move into SVP of Finance Role

CHICAGO--()--Accretive Health, Inc. (OTC Pink: ACHI) today announced that it has appointed Peter Csapo, CPA, former chief financial officer and area senior vice president for VHA, Inc., as senior vice president, chief financial officer and treasurer, effective Tuesday, August 12.

Csapo succeeds Sean Orr, who has served as senior vice president and chief financial officer of Accretive Health since August 2013. Orr will remain with the company, moving into a new role as SVP of finance, reporting directly to Emad Rizk, M.D, president and chief executive officer. In this role, Orr will leverage his expertise to advise the company regarding its pending financial restatement and will work closely with Csapo to ensure a smooth transition.

“Peter is an accomplished leader with extensive healthcare experience and intimate knowledge of hospital and payer finance and operations, all of which we will leverage as we move forward,” said Dr. Rizk. “Peter spent a great deal of time working with hospital CEOs and CFOs during his time at VHA, and I know he is the ideal person to help us enhance our financial infrastructure and internal operating controls as Accretive Health moves into our next phase of growth and innovation.”

Dr. Rizk continued, “At the same time, Sean has done a terrific job and brought a strong combination of both financial acumen and a straight-forward approach to Accretive Health over the past year. Our finance organization has made significant progress on the restatement so far, and we will continue to benefit from Sean’s expertise in this area.”

Since 2011, Csapo has served as area senior vice president and chief financial officer for VHA, Inc., parent company of Novation, Provista and aptitude™, where he provided leadership to turn around the company’s financial strategy and infrastructure, and modernize information technology methodologies to align with and support VHA’s new business model.

Prior to that, Csapo worked at McKesson Health Solutions as chief financial officer and vice president, customer operations. He joined McKesson in 1998, where he advanced through multiple corporate and divisional leadership roles during his 13-year tenure.

Csapo also worked at Honeywell International, Inc., in finance and enterprise resource planning (ERP) systems. He began his career at the headquarters of Sears, Roebuck and Co. in audit and SEC financial reporting. Csapo is a graduate of the University of Wisconsin at Madison and received his Certified Public Accountant certificate from the state of Illinois.

“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. “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.”

“I am proud of the progress Accretive Health has made over the past year, and I am eager to work with Peter and Emad as we put the restatement behind us and build a finance organization that is well positioned to support the future growth of the business,” Orr said.

Safe Harbor

This press release contains forward-looking statements, including statements regarding Accretive Health’s ability to finalize its restatement, its ability to enhance or evolve its financial infrastructure, internal operating controls and corporate and operating costs structure, and its ability to achieve sustained growth and profitability. All forward-looking statements contained in this press release involve risks and uncertainties. The company’s actual results and outcomes could differ materially from those anticipated in these forward-looking statements as a result of various factors, including the possibility that the ongoing restatement could have unanticipated consequences and the factors set forth in the company’s quarterly report on Form 10-Q for the quarter ended September 30, 2012, filed with the SEC on November 8, 2012, under the heading “Risk Factors.” The words “strive,” “objective,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “vision,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The company has based these forward-looking statements on its current expectations and projections about future events. Although the company believes that the expectations underlying any of its forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections, or expectations prove incorrect, actual results, performance, financial condition, or events may vary materially and adversely from those anticipated, estimated, or expected.

All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The company cautions readers not to place undue reliance on any forward-looking statement that speaks only as of the date made and to recognize that forward-looking statements are predictions of future results, which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the uncertainties and factors described above, as well as others that the company may consider immaterial or does not anticipate at this time. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, the company does not know whether its expectations may prove correct. The company’s expectations reflected in its forward-looking statements can be affected by inaccurate assumptions it might make or by known or unknown uncertainties and factors, including those described above. The risks and uncertainties described above are not exclusive, and further information concerning the company and its business, including factors that potentially could materially affect its financial results or condition or relationships with customers and potential customers, may emerge from time to time. The company assumes no, and it specifically disclaims any, obligation to update, amend, or clarify forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements. The company advises investors, however, to consult any further disclosures it makes on related subjects in our periodic reports that it files with or furnishes to the SEC.

About Accretive Health

At Accretive Health, our mission is to partner with healthcare communities to serve as a catalyst for a healthier future for all. For more information, visit www.accretivehealth.com.

Contacts

Accretive Health, Inc.
Investor Relations:
Atif Rahim
312-324-5476
investorrelations@accretivehealth.com
or
Media Relations:
Brian Pitts
312.475.5921
brian.pitts@hkstrategies.com

Contacts

Accretive Health, Inc.
Investor Relations:
Atif Rahim
312-324-5476
investorrelations@accretivehealth.com
or
Media Relations:
Brian Pitts
312.475.5921
brian.pitts@hkstrategies.com