August 17, 2026- Accendra Health is providing an update on its capital allocation plans and the timeline for the replacement of its chief executive officer. Given recent market conditions, the Company has determined that it is in the best interest of stakeholders not to put in place an at-the-market issuance program. The program was intended to allow the Company to opportunistically issue modest amounts of equity over time, with the proceeds to be used to reduce outstanding indebtedness, including debt trading at discounts to par value. The program was never intended as a source of liquidity for the Company. Not implementing the program will have no impact on the Company’s results of operations or published guidance.
The Company is also providing an update on its announcement regarding the CEO succession plan. The Company’s Board of Directors has maintained a comprehensive, long-standing CEO succession planning process supported by leading executive search and advisory firms. Following Mr. Pesicka’s formal announcement of his intention to retire by the end of 2026, the Board promptly advanced the next phase of its succession process and has been actively evaluating candidates. The Board has identified a strong pipeline of potential candidates with the experience and capabilities needed to lead the Company into its next phase of growth.
The Board currently expects to announce a successor by mid-September 2026, positioning the Company for a timely leadership transition well ahead of Mr. Pesicka’s planned retirement. Mr. Pesicka will continue to serve as CEO until his successor is in place and will serve in an advisory capacity following the transition to support continuity and an orderly handoff.