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Accretive Health Reports Inducement Grant under NYSE Rule 303A.08

CHICAGO–(BUSINESS WIRE)– Accretive Health, Inc. (NYS: AH) today announced that pursuant to the employment agreement entered into with Stephen Schuckenbrock on April 2, 2013, the company granted to Mr. Schuckenbrock on April 3, 2013 a non-qualified stock option under the New York Stock Exchange inducement grant exception. The inducement grant was approved by the company’s Board of Directors on April 1, 2013 and is being made as an inducement material to Mr. Schuckenbrock’s acceptance of employment with the company, in accordance with New York Stock Exchange Rule 303A.08. The company previously announced that Mr. Schuckenbrock has been appointed President and Chief Executive Officer and a member of the company’s Board of Directors, effective April 3, 2013.

The stock option is for the purchase of 2,903,801 shares of the company’s common stock, with an exercise price of $9.56, which was the closing price of the company’s common stock reported on the New York Stock Exchange on April 3, 2013. The stock option will vest and become exercisable on a ratable monthly basis over 48 months based on continued service to the company, subject to acceleration in specified circumstances.

Accretive Health is providing the above information regarding Mr. Schuckenbrock’s inducement grant in accordance with New York Stock Exchange Rule 303A.08.

About Accretive Health

At Accretive Health, our mission is to help our healthcare clients strengthen their financial stability and deliver better care at a more affordable cost to the communities they serve (increasing healthcare access to all). For more information, visit www.accretivehealth.com.

Accretive Health, Inc.
Investor Relations:
Atif Rahim
Telephone: 312.324.5476
email: investorrelations@accretivehealth.com
or
Media:
Puneet Singh
Telephone: 330.565.6802
email: mediarelations@accretivehealth.com

KEYWORDS: United States North America Illinois

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Source: FULL ARTICLE at DailyFinance

By Business Wirevia The Motley Fool

Filed under: Investing

Accretive Health Names Stephen Schuckenbrock President and CEO;

Mary Tolan Elected Chairman

CHICAGO–(BUSINESS WIRE)– The Board of Directors of Accretive Health, Inc. (NYS: AH) announced today that Stephen Schuckenbrock, formerly president of Dell Services, has been named President and Chief Executive Officer and a member of the Accretive Board of Directors effective on April 3, 2013. Firm co-founder and current President and Chief Executive Officer Mary Tolan has been elected Chairman of the Board of Directors. Co-founder and current Chairman of the Board J. Michael Cline will continue to serve as a director of the company.

“In nine years Accretive Health has grown from a startup to a $1 billion company in market capitalization. As we continue to serve a rapidly changing healthcare marketplace, the new, enhanced management team is a natural evolution as part of our growth. Steve’s strengths in technology, driving growth at Dell Services and operational execution will add to an already capable team,” Cline said.

As president of Dell Services, he oversaw a full range of business solutions from infrastructure and cloud to Business Process Outsourcing. He was responsible for developing and delivering end-to-end IT services and business solutions for global corporations, government, healthcare providers and educational institutions around the world. His work at Dell also included President of Dell’s Large Enterprise business and Chief Information Officer.

“I am excited and honored to be taking this leadership role in a company that I believe can make a real difference in healthcare. In a very short time, Mary and her team have created an innovative business model around the important core mission of improving healthcare for providers and patients alike. Mary’s leadership and expertise will be key as we seek to meet and exceed customer needs in a complex and rapidly evolving industry. I look forward to partnering with Mary and the entire leadership team to take the company to the next level,” Schuckenbrock said.

Said Tolan: “For some time now, the Board and I have been looking to add to the intellectual and operational firepower of our senior leadership ranks. I am delighted to say we have found an extraordinary executive, Steve Schuckenbrock,” adding, “We expect that his experience in scaling the $8.5 billion technology services business at Dell, which had significant healthcare focus and excelled in customer outcomes, will be an important catalyst for our company.”

Prior to Dell, Schuckenbrock was co-chief operating officer and executive vice president of global sales and services for EDS. Before joining …read more
Source: FULL ARTICLE at DailyFinance

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Accretive Health Reports Inducement Grant under NYSE Rule 303A.08

Accretive Health Names Stephen Schuckenbrock President and CEO; Mary Tolan Elected Chairman

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