P3 Health Partners Announces Chief Financial Officer Transition Appoints Erin Darakjian as Interim CFO

HENDERSON, Nev., Oct. 20, 2022 (GLOBE NEWSWIRE) -- P3 Health Partners Inc. (“P3”) (NASDAQ: PIII), a patient-centered and physician-led population health management company, today announced the resignation of Chief Financial Officer, Eric Atkins, effective November 1, 2022. Mr. Atkins has taken a position in Denver to pursue a business opportunity that will allow him to be closer to family.

“Eric’s numerous contributions have led us through our successful public offering and have helped P3 in its mission to lead the transformation of healthcare,” said Chief Executive Officer, Sherif Abdou. “During Eric’s time at P3, in part due to his tireless efforts, we have doubled the number of patients that we are honored and privileged to serve.   We are saddened to see him leave but are grateful for his many contributions.”

P3 and its Board of Directors have begun a search for a new Chief Financial Officer with the help of a national recruiting firm. P3 has appointed Erin Darakjian, P3’s current Senior Vice President and Chief Accounting Officer, as interim Chief Financial Officer.   Her expertise in technical accounting, financial reporting, capital markets and her leadership skills will be a tremendous asset during the transition.

“I, along with the rest of the team, am sad to see Eric leave P3,” Ms. Darakjian commented. “He has worked hard to build a strong foundation for the organization. I am ready to continue where he left off, focusing on disciplined and purposeful growth so that we can drive the mission that puts patients and their health at the center of everything P3 does.”

Mr. Atkins commented, “I’m proud of all that we accomplished in my two years with P3. I’m incredibly humbled to have worked alongside the physicians who had the vision to bring the incredible mission of P3 to fruition. I leave knowing that Erin brings the leadership and insight to make the transition smooth.   I can comfortably begin my new journey knowing P3 has the people and tools in place to pursue its mission.”

About P3 Health Partners (NASDAQ: PIII): P3 Health Partners Inc. is a leading population health management company committed to transforming healthcare by improving the lives of both patients and providers. Founded and led by physicians, P3 has an expansive network of more than 2,600 affiliated primary care providers across the country. Our local teams of health care professionals manage the care of thousands of patients in 18 counties across five states. P3 supports primary care providers with value-based care coordination and administrative services that improve patient outcomes and lower costs. Through partnerships with these local providers, the P3 care team creates an enhanced patient experience by navigating, coordinating, and integrating the patient’s care within the healthcare system. For more information, visit www.p3hp.org and follow us on @p3healthpartners and Facebook.com/p3healthpartners.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Words such as "anticipate," "believe," "budget," "contemplate," "continue," "could," "envision," "estimate," "expect," "guidance," "indicate," "intend," "may," "might," "plan," "possibly," "potential," "predict," "probably," "pro-forma," "project," "seek," "should," "target," or "will," or the negative or other variations thereof, and similar words or phrases or comparable terminology, are intended to identify forward-looking statements. These forward-looking statements address various matters, including statements regarding the Company’s potential for growth and the Chief Financial Officer transition, all of which reflect the Company’s expectations based upon currently available information and data. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected or estimated and you are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, among others, changes in market or industry conditions, regulatory environment, competitive conditions, and receptivity to our services; our ability to continue our growth and expand our operations; changes in laws and regulations applicable to our business; our ability to maintain our relationships with health plans and other key payers; the impact of COVID-19, including the impact of new variants of the virus, or another pandemic, epidemic or outbreak of infectious disease on our business and results of operation; increased labor costs; our ability to recruit and retain qualified team members and independent physicians; and other factors discussed in Part I, Item 1A. “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 to be filed with the SEC on October 21, 2022, and in the Company’s other filings with the SEC. All information in this press release is as of the date hereof, and we undertake no duty to update or revise this information unless required by law. You are cautioned not to place undue reliance on any forward-looking statements contained in this press release.

Investor Relations
Karen Blomquist
Vice President, Investor Relations
P3 Health Partners
kblomquist@p3hp.org

Steve Halper
Managing Director
LifeSci Advisors
shalper@lifesciadvisors.com

Communications
Kassi Belz
Executive Vice President, Communications
P3 Health Partners
(904) 415-2744
kbelz@p3hp.org

Released October 20, 2022