Accredo Health, Inc. Adds New Director and Announces John R. Grow Retirement Plans.Business Editors MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--Feb. 2, 2004 Accredo Health, Incorporated (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACDO ACDO Air Carrier District Office ACDO Assistant Command Duty Officer ) announced today that its Board of Directors voted at its January meeting to expand the size of the Company's Board of Directors from eight to nine directors and appointed J. Martin Carroll as the ninth director. Mr. Carroll, the President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Boehringer Ingelheim Corporation, joins the Board as a Class II director with a term expiring at the Company's 2006 annual meeting. The Company's Board of Directors is composed of eight outside non-employee directors. David D. Stevens, Accredo's chief executive officer, will continue on the Board as the sole employee director. The Company also announced that John R. ("Randy") Grow, President of Accredo Health, Inc. and its subsidiary, Nova Factor, Inc., has announced his intention to retire during calendar year 2004. Mr. Grow, who is 55 years old, has served in several executive capacities with both companies since Nova Factor, Inc. was formed in 1990. Mr. Grow devotes most of his efforts to directing Nova Factor operations as its President. The Company has made no decision regarding Mr. Grow's replacement and Mr. Grow has agreed to continue as President of both Companies during the search process. Mr. Stevens stated, "Mr. Grow's decision is not unexpected as he and I have discussed his desire to retire for some time. Mr. Grow has been instrumental in the growth of Nova Factor, Inc. and Accredo Health, Inc. and has provided strong leadership and direction since joining our organization in 1990." Accredo Health, Incorporated provides specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. pharmacy and related services pursuant to agreements with biotechnology drug manufacturers relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the treatment of patients with certain costly, chronic diseases. The Company's services include collection of timely drug utilization and patient compliance information, patient education and monitoring through the use of written materials and telephonic consultation, reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. expertise and overnight drug delivery. |
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