Erin Darakjian to Retain Chief Accounting Officer Role
P3 Health Partners Inc. (“P3” or the “Company”) (NASDAQ: PIII), a patient-centered and physician-led population health management company, today announced Atul Kavthekar will be joining the Company as Chief Financial Officer (CFO), on December 12, 2022.
As CFO, Mr. Kavthekar will lead the Company’s finance organization and will oversee Accounting, Treasury, Finance Analytics, and Investor Relations.
“We are delighted to have Atul join the P3 team,” said Dr. Sherif Abdou, P3’s Co-founder and Chief Executive Officer. “He is an accomplished CFO with an extensive background across a wide range of industries. We believe that Atul’s experience in creating value both internally, through a focused ‘talent building’ mindset, and externally by driving financial results, will greatly benefit P3. He will provide sound financial insight and disciplined capital management, as we work to achieve our vision of expanding our value-based care model to lead the transformation of healthcare.”
Mr. Kavthekar succeeds Erin Darakjian who has served as interim CFO since November 1, 2022. Ms. Darakjian remains in her position as Senior Vice President and Chief Accounting Officer.
“I would like to thank Erin for stepping into the CFO role on an interim basis and making the transition seamless, while P3 and its Board of Directors completed the search for a new CFO,” added Dr. Abdou.
Mr. Kavthekar commented, “I am so pleased to join P3 Health Partners, a leader in value-based healthcare. The strength and vision of the team is fueled by a mission-driven culture, which puts the patient at the heart of everything they do. I look forward to helping this team expand through focused, disciplined growth, ensuring greater access to more patients in need.”
During his career, Mr. Kavthekar has served as corporate and divisional CFO for numerous private and public companies, including: EyeCare Partners, Diplomat Pharmacy, Walgreen Co., Sears Holdings Corp., and LivingSocial. Additionally, he has extensive capital markets experience and has held various merger and acquisition roles at leading investment banks, including Morgan Stanley, Wasserstein Perella & Co., and Barclays Capital.
Mr. Kavthekar holds an MBA from the University of Chicago Booth School of Business, a Master of Science in Engineering from Wayne State University, and a Bachelor of Science from the University of Michigan.
About P3 Health Partners (NASDAQ: PIII):
P3 Health Partners Inc. is a leading population health management company committed to transforming healthcare by improving the lives of both patients and providers. Founded and led by physicians, P3 has an expansive network of more than 2,800 affiliated primary care providers across the country. Our local teams of health care professionals manage the care of more than 100,000 patients in 15 counties across five states. P3 supports primary care providers with value-based care coordination and administrative services that improve patient outcomes and lower costs. Through partnerships with these local providers, the P3 care team creates an enhanced patient experience by navigating, coordinating, and integrating the patient’s care within the healthcare system. For more information, visit www.p3hp.org and follow us on @p3healthpartners and Facebook.com/p3healthpartners.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Words such as "anticipate," "believe," "budget," "contemplate," "continue," "could," "envision," "estimate," "expect," "guidance," "indicate," "intend," "may," "might," "plan," "possibly," "potential," "predict," "probably," "pro-forma," "project," "seek," "should," "target," or "will," or the negative or other variations thereof, and similar words or phrases or comparable terminology, are intended to identify forward-looking statements. These forward-looking statements address various matters, including statements regarding the Company’s potential for growth and the Chief Financial Officer transition, all of which reflect the Company’s expectations based upon currently available information and data. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected or estimated and you are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, among others, changes in market or industry conditions, regulatory environment, competitive conditions, and receptivity to our services; our ability to continue our growth and expand our operations; changes in laws and regulations applicable to our business; our ability to maintain our relationships with health plans and other key payers; the impact of COVID-19, including the impact of new variants of the virus, or another pandemic, epidemic or outbreak of infectious disease on our business and results of operation; increased labor costs; our ability to recruit and retain qualified team members and independent physicians; and other factors discussed in Part I, Item 1A. “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on October 21, 2022, and in the Company’s other filings with the SEC. All information in this press release is as of the date hereof, and the Company undertakes no duty to update or revise this information unless required by law. You are cautioned not to place undue reliance on any forward-looking statements contained in this press release.