agilon health Appoints Karthik Rao, M.D., as Chief Medical Officer

Rhea-AI Summary

agilon health announced the appointment of Karthik Rao, M.D., as its permanent Chief Medical Officer (CMO), effective immediately. Dr. Rao has been serving as interim CMO since February 2024 and was previously senior medical director and vice president of network performance at agilon. With nearly a decade of experience as a practicing internal medicine physician, Dr. Rao will co-lead clinical strategy and oversee clinical programs alongside Chief Clinical Officer Kevin Spencer, M.D., who brings over 25 years of experience in value-based care. Both will report to CEO Steve Sell and aim to enhance provider performance across agilon's Physician Network.

Positive

• Appointment of experienced CMO Karthik Rao expected to enhance clinical strategy and physician network performance.
• Continued leadership of Kevin Spencer alongside Karthik Rao strengthens operational and clinical oversight.
• Strategic focus on improving care and outcomes for Medicare patients boosts confidence in agilon's full-risk model.

Negative

• None.

Dr. Rao to Continue to Lead Clinical Strategy and Drive Physician Network Performance Alongside agilon’s Chief Clinical Officer Kevin Spencer, M.D.

AUSTIN, Texas--(BUSINESS WIRE)-- agilon health, inc. (NYSE: AGL), the trusted partner empowering physicians to transform health care in our communities, announced today that after a comprehensive search Karthik Rao, M.D., who has served as agilon’s interim chief medical officer (CMO) since February 2024, has been appointed to the permanent CMO role, effective immediately. He previously served as senior medical director and vice president, network performance, at the company.

Prior to joining agilon in 2022, Dr. Rao held several roles in value-based care, including nearly a decade of experience as a practicing internal medicine physician. He will continue to co-lead agilon’s clinical strategy with the company’s chief clinical officer (CCO), Kevin Spencer, M.D., a founding agilon partner and former chief executive officer (CEO) of an independent primary care practice and practicing family medicine physician operating in value-based care with more than 25 years’ experience. As part of their roles, Dr. Rao also will continue to oversee agilon’s clinical programs and network engagement initiatives and Dr. Spencer will continue to drive operations in collaboration with market leaders and oversee the company’s medical directors, with the collective goal of enabling provider performance across agilon’s Physician Network and markets. Drs. Rao and Spencer will both report to agilon’s CEO Steve Sell.

“Physicians and payors continue to recognize the benefits of the agilon model and the value it provides,” said Steve Sell. “I am delighted to recognize Dr. Rao and Dr. Spencer for their contributions to furthering our mission of empowering physicians to transform health care in our communities. I expect them to continue to play a key role in enabling the more than 3,000 primary care physicians operating in our full-risk model to drive improved care and outcomes for their Medicare patients.”

About agilon health

agilon health is the trusted partner empowering physicians to transform health care in our communities. Through our partnerships and purpose-built platform, agilon is accelerating at scale how physician groups and health systems transition to a value-based Total Care Model for their senior patients. agilon provides the technology, people, capital, process and access to a peer network of 3,000+ primary care physicians that allows its physician partners to maintain their independence and focus on the total health of their most vulnerable patients. Together, agilon and its physician partners are creating the health care system we need – one built on the value of care, not the volume of fees. The result: healthier communities and empowered doctors. agilon is the trusted partner in 30+ diverse communities and is here to help more of our nation’s leading physician groups and health systems have a sustained, thriving future. For more information about agilon health, visit www.agilonhealth.com and connect with us on LinkedIn, Instagram and YouTube.

Forward-Looking Statements

Statements in this release that are not historical factual statements are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements regarding our and our officers’ intent, belief or expectation as identified by the use of words such as “believes,” “expects,” “may,” “will,” “shall,” “should,” “would,” “could,” “seeks,” “aims,” “projects,” “is optimistic,” “intends,” “plans,” “estimates,” “anticipates” or the negative versions of these words or other comparable terms. Forward-looking statements reflect our current expectations and views about future events and are subject to risks and uncertainties that could significantly affect our future financial condition and results of operations. While forward-looking statements reflect our good faith belief and assumptions we believe to be reasonable based upon current information, we can give no assurance that our expectations or forecasts will be attained. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be outside our control. These risks and uncertainties that could cause actual results and outcomes to differ from those reflected in forward-looking statements include, but are not limited to, the factors identified in the “Cautionary Language Regarding Forward-Looking Statements” and “Risk Factors” sections of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and Quarterly Report on Form 10-Q for the period ended March 31, 2024, and in our other filings with the Securities and Exchange Commission (the “SEC”), which can be found at the SEC’s website at www.sec.gov. Except as required by law, we do not undertake, and hereby disclaim, any obligation to update any forward-looking statements, which speak only as of the date on which they are made.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240710416010/en/

Investors

Leland Thomas

Investor Relations

investors@agilonhealth.com

Media

Maureen Merkle

Communications & Public Affairs

media@agilonhealth.com

Source: agilon health, inc.

FAQ

Who is the new Chief Medical Officer of agilon health?

Karthik Rao, M.D., has been appointed as the permanent Chief Medical Officer of agilon health, effective immediately.

What role did Karthik Rao, M.D., hold before becoming the permanent CMO of agilon health?

Before becoming the permanent CMO, Dr. Rao served as the interim CMO since February 2024 and was previously senior medical director and vice president of network performance at agilon health.

Who will co-lead agilon's clinical strategy with Karthik Rao, M.D.?

Kevin Spencer, M.D., the Chief Clinical Officer of agilon health, will co-lead the clinical strategy with Karthik Rao, M.D.

What is the main goal of the leadership changes at agilon health?

The main goal is to enhance provider performance across agilon's Physician Network and improve care and outcomes for Medicare patients.