Modivcare Inc. (Nasdaq: MODV) has named Barbara Gutierrez as its next CFO.
The Denver-based Modivcare offers technology-enabled health care services and provides non-emergency medical transportation (NEMT). The company’s Modivcare Home division includes its personal care, remote patient monitoring and nutritional meal delivery service offerings.
Gutierrez is slated to step into her new role on Sept. 18, 2023.
“Barb is an established finance leader within the health care industry, and I am confident that she will help Modivcare drive results as we advance our journey to becoming One Modivcare,” L. Heath Sampson, CEO of Modivcare, said in a press statement. “Barb’s financial leadership experience, coupled with her health care industry background, specifically focused on innovative, value-based care programs like [PACE], align with our strategy and vision at Modivcare and she will be able to help us navigate the evolving industry landscape while driving our financial operations and results.”
With One Modivcare, Sampson is referring to the company’s move to view all of its segments as a unified care delivery model.
“If you think about all our services, they could be very different,” Sampson said earlier this year at the J.P. Morgan Healthcare Conference. “They are really one Modivcare. It’s the same client, it’s the same member. [We’re] bringing these solutions together, fulfilling that mission of taking care of people and lowering the cost of health care.”
Before joining Modivcare, Gutierrez was CFO at InnovAge (Nasdaq: INNV), which is one the largest PACE organizations in the country.
“While creating avenues for workflow improvements, my aim is to create a cohesive environment and align our teams and processes to encourage transformations,” Gutierrez said in the statement. “I am committed to driving growth, improving efficiency, and profitability, while simultaneously supporting the delivery of the services and needs that make Modivcare unique. Coming from a senior health care services company, I am excited to continue my passion for innovative, value-based care arrangements focused on the social determinants of health.”
Gutierrez isn’t Modivcare’s only recent appointment. The company named a former UnitedHealth Group (NYSE: UNH) executive, Jessica Kral, as its chief information officer back in June.
It also named a new head of its Home Division earlier this year, Anne Bailey, who was a former executive at DaVita (NYSE: DVA).
“Given the seat remained unfilled after Heath Sampson’s official promotion from CFO to CEO in Nov. 2022, we view the appointment of a seasoned H/C CFO as a positive for the company, especially as investors are currently highly focused on MODV’s cash generation, balance sheet, financial forecasting, and analysis around redetermination exposure,” Jefferies wrote in an analyst note Wednesday.
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