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Accendra Health Inc

Accendra Health, Inc. is a U.S. healthcare solutions company that, through its subsidiaries, provides products and services for in-home care and delivery. Its offerings include diabetes treatment supplies, home respiratory therapy such as home oxygen and non-invasive ventilation, and obstructive sleep apnea treatment including CPAP and bi-level positive airway pressure devices, along with patient support services. The company also supplies other home medical equipment and patient care product lines covering ostomy, wound care, negative pressure wound therapy, urology, and incontinence. It serves patients and home health agencies. Formerly known as Owens & Minor, Inc., it changed its name to Accendra Health, Inc. in December 2025. Founded in 1882, the company is based in Glen Allen, Virginia.

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Accendra Health names board member Kenneth Gardner-Smith as next CEO

Accendra Health has named board member Kenneth Gardner-Smith as its next president and chief executive officer, with the appointment expected to take effect early in Q4 2026. Gardner-Smith will succeed Edward A. Pesicka, who announced his retirement in August after more than seven years leading the company. Gardner-Smith has served on Accendra Health's board since March 2022 and is currently CEO of Veritas Veterinary Partners, where he has led a strategy reset and executive rebuild since 2024.
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Accendra Health CEO to Retire by End of 2026

Accendra Health President and CEO Edward Pesicka has informed the Board of Directors of his intention to retire by the end of 2026. The announcement came during the company's second quarter 2026 earnings call, where Pesicka said the decision followed considerations with his family and that now is the right time after nearly eight years leading the company. He cited milestones including stabilizing the company, navigating the COVID-19 pandemic, completing the sale of the P&HS segment, and executing a balance sheet optimization and debt realignment. The Board has a long-standing succession planning process, and Pesicka expressed confidence in a successful CEO transition.
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Accendra Health cuts 2026 outlook, CEO plans retirement by year-end

Accendra Health revised its full-year 2026 revenue guidance to between $2.45 billion and $2.55 billion and adjusted EBITDA to between $300 million and $320 million, while CEO Edward Pesicka announced his intention to retire by the end of 2026. The company cited three primary factors for the shortfall: revenue growth below expectations, timing of planned cost reductions, and a slower-than-expected recovery of its collection rate, which had a negative impact of nearly $20 million in the first half. Second-quarter adjusted EBITDA was just over $60 million, and free cash flow for the full year is now expected to be breakeven to slightly positive. Management noted that more than $125 million of annualized costs have been eliminated following the separation from Owens & Minor and the transition away from a large commercial payor, and that a stronger fourth quarter is expected to provide momentum into 2027.
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Accendra Health Completes Senior Notes Exchange, Issues $539.25 Million in First Lien Notes

Accendra Health has finalized the settlement of its exchange offers, swapping its outstanding 4.5% senior notes due 2029 and 6.625% senior notes due 2030 for new 9% senior secured first-lien notes maturing in 2032 and 9.75% senior secured second-lien notes maturing in 2033. The company issued or expects to issue $539.25 million in first-lien notes, including new money notes, while second-lien notes are projected at approximately $698.1 million. S&P Global Ratings affirmed Accendra's B issuer rating and revised its outlook from negative to stable, assigning a B+ rating to the first-lien notes with strong recovery prospects and a CCC+ rating to the second-lien notes with minimal recovery expectations. The outlook reflects near-term earnings pressure from acquisition and separation costs and the loss of a large commercial contract, balanced by improving credit metrics, with adjusted leverage trending toward 5x and free operating cash flow to debt expected to exceed 3%.
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