July 20, 2021

BALTIMORE, MD – AbsoluteCare announced today that healthcare industry veteran Ken Burdick has been appointed Chairman of the Board. Mr. Burdick succeeds founder and former Chairman Alan Cohn, who will remain as Chairman Emeritus of the Board. The transition of Mr. Burdick to the Board of Directors of AbsoluteCare and his most recent appointment as Chairman of the Board follows AbsoluteCare’s recapitalization and partnership with Kinderhook Industries, LLC (“Kinderhook”) in December of 2020.

“Ken’s unparalleled operational experience, financial expertise, and industry knowledge will help further shape our strategies for delivering quality, cost-effective health care solutions to our members and clients,” said Mike Radu, AbsoluteCare’s CEO. “Alan’s unique leadership and vision helped to form and later shape our Company, and we are thankful and pleased to continue to get the benefit of his tremendous talent as we enjoy this next, exciting chapter.”

“I am extremely excited to work with Alan, Mike and the AbsoluteCare and Kinderhook teams to build upon AbsoluteCare’s achievements as a transformative leader in value-based primary care for our country’s most vulnerable populations through our unique, whole-person care model,” said Mr. Burdick.

“The leadership and effectiveness Ken exhibited during his five-year tenure as Chief Executive Officer at WellCare were nothing short of exemplary and I am excited to work with him again,” said Chris Michalik, Managing Director of Kinderhook and former Chairman of the Board at WellCare Health Plans (NYSE: WCG). “Ken has over 30 years of healthcare executive and operations experience and I am thrilled to have him lead our Board of Directors as Chairman as we focus on AbsoluteCare’s exciting next phase of growth.”

Prior to joining AbsoluteCare’s Board, Mr. Burdick retired in January 2021 from Centene where he was Executive Vice President of National Markets and Products, including leadership and P&L responsibility for all health plans . Prior to the acquisition of WellCare by Centene in January 2020, Mr. Burdick was the President and CEO of WellCare since 2015. Prior to joining WellCare, Mr. Burdick had a 33-year career in healthcare with the vast majority (28 years) spent at UnitedHealth Group and Cigna. During his 14 years at UnitedHealth, Mr. Burdick held leadership roles including CEO of UnitedHealthcare, CEO of the Secure Horizons Medicare product and SVP of national underwriting.

Mr. Burdick is currently serving on multiple healthcare company boards and is the national Board Chair for Big Brothers Big Sisters of America.

For additional information about this transaction, please contact: 
Christian Michalik
Managing Director
(212) 201-6782
[email protected]
 
Michael Zoch
Managing Director
(212) 201-6785
[email protected]