P3 Health Partners Inc. ("P3" or the "Company") (NASDAQ:PIII), today named Dr. Aric Coffman as P3's Chief Executive Officer, effective as of May 8, 2024, succeeding Dr. Sherif Abdou, P3's Co-Founder. Dr. Abdou will continue to serve as a Strategic Advisor to P3, and a member of the Company's Board of Directors working closely with Dr. Coffman to ensure a smooth transition.
Dr. Coffman is an exceptional physician leader with a proven track record of success in the value-based care sector, most recently as the CEO of Honest Medical Group, a Rubicon Founders portfolio company. He brings over two decades of experience in leading provider organizations in delivering high quality, highly efficient healthcare delivery for seniors in the Medicare Advantage and ACO market. Prior to his tenure at Honest, Dr. Coffman was the CEO of the Everett Clinic and Northwest Physicians Network (Part of OptumCare) where he doubled MA membership and led them into the full risk DSNP market segment. During his tenure at Honest he successfully grew the company from start up to a multistate, multi-payer senior focused, provider enablement organization. Thanks to his prior experience working with members of our leadership team including Dr. Abdou, Dr. Amir Bacchus (Co-Founder & CMO) and Bill Betterman (COO), we are confident Dr. Coffman will be warmly welcomed by the P3 team.
"Sherif and I agree that now is the right time to bring in new leadership, and Dr. Aric Coffman is exceptionally well-suited to advance our long-term strategy," said Mark Thierer, P3's Chairman of the Board. "Aric is a respected and accomplished, growth-oriented leader with extensive management expertise and a great track record in the value-based care sector."
"I am thrilled to join the amazing team of professionals and clinicians at P3 and to build on the successful foundation that Dr. Abdou and Dr. Bacchus have established. I believe deeply in the holistic value-based care delivery model that is enabled by Medicare Advantage and its ability to improve the quality of care for seniors," said Dr. Coffman.
"I am extremely proud of and grateful to the team we have built at P3 Health Partners. We started P3 in 2017 and built the company into one of the leading value-based care platforms today," said Dr. Abdou. "It gives me great satisfaction to be able to attract someone of Dr. Coffman's reputation and accomplishment to lead P3's next chapter of growth and success."
Mr. Thierer continued, "On behalf of the Board, I would like to welcome Dr. Coffman in as the new CEO of P3 Health Partners. I would also like to thank Dr. Abdou for his excellent service as CEO since 2017 and look forward to our continued work together on behalf of P3."