The nation’s largest provider of hospice services, Miami-based VITAS Healthcare, has named Jeffrey M. Kreger to be its new executive vice president and chief financial officer.
VITAS is a wholly owned subsidiary of Chemed Corp (NASDAQ: CHEM), which also owns Roto-Rooter. Kreger comes to the company at a time of strong financial performance.
Kreger’s appointment follows the recent retirement of President and CFO David Wester earlier this year after 22 years with the company.
VITAS, which operates 47 hospice locations in 14 states, reported service revenues and sales of nearly $1.2 billion for full-year 2018, up from $1.15 billion the previous year. Projected growth for 2019 is in the range of 5.5 to 6 percent, with an anticipated 4 to 5 percent rise in average daily patient census. At the conclusion of the fourth quarter of 2018, VITAS reported an average daily census of 18,136.
In February VITAS opened a new 13,000-square-foot inpatient hospice facility on the campus of Methodist Dallas Medical Center, expected to care for 800 patients annually, the company’s third inpatient facility in the Dallas area.
According to NASDAQ, Chemed’s stock has risen 4.8 percent during the past six months.
Prior to joining VITAS, Kreger served as CFO of Aegis Therapies, a provider of contract home health, rehabilitation services, and wellness services. He began his career as a certified public accountant (CPA) and financial auditor at the multinational professional services firm Ernst & Young.
He has also held financial leadership roles with home health and hospice provider LHC Group and New York state-based Bioscrips, Inc., an infusion services provider.
At VITAS, Kreger will oversee finance, accounting, facilities, revenue cycle management, and risk management departments.
“We are pleased to have someone of Jeffrey’s caliber and experience join the VITAS executive team,” said VITAS President and CEO Nick Westfall. “His leadership and vision will help advance our company forward as it continues to grow, innovate and deepen its position as a leader of end-of-life care.”
Kreger, a certified public accountant, holds a master’s degree in business administration from the University of Houston.