Skilled Healthcare Group Announces Appointment of New CEO
FOOTHILL RANCH, Calif., Nov. 20, 2013 /PRNewswire/ -- Skilled Healthcare Group, Inc. (NYSE: SKH) today announced that Robert H. Fish, 63, has been appointed to serve as the Company's Chief Executive Officer and as a member of its board of directors. Mr. Fish, who has served in a variety of executive leadership roles in the hospital and long-term care industries over the past 30 years, is succeeding Boyd W. Hendrickson. Mr. Hendrickson, who has served as the Company's Chief Executive Officer since 2002, is retiring effective today but will continue to be available to consult with the Company.
"I am very proud of what Skilled Healthcare has achieved since I began working with the Company over a decade ago," said Mr. Hendrickson. "I have enjoyed leading our outstanding team as the Company's assets have grown from roughly 48 skilled nursing and assisted living facilities primarily in California and Texas back in 2002 to where it is today as a diversified leader in the post-acute care profession, with 96 facilities, and successful hospice, home health and rehabilitation therapy companies, operating in 11 states. More importantly, I am proud to have been associated with the thousands of outstanding caregivers and other employees who give so much of themselves day in and day out to ensure that our healthcare companies are able to provide the patients they serve with outstanding care," continued Mr. Hendrickson.
"I am happy to be succeeded by such a respected leader as Bob Fish, who is an accomplished veteran of the healthcare profession. He brings to the Company an extraordinary record of delivering quality, performance and shareholder value. I am confident that he has the experience to lead Skilled Healthcare and achieve its full potential. I look forward to seeing the Company's continued success under his leadership in the years to come," said Mr. Hendrickson.
"I am excited to have the opportunity to lead this remarkable organization," said Mr. Fish. "The Skilled Healthcare organization has a strong reputation in post-acute care services, and I am honored to be associated with the good work that they are doing. Our nation's healthcare system is more dynamic and stressed now than ever before and Skilled Healthcare is well poised for success and growth in the future. I think that Boyd's leadership has positioned us well to thrive in our rapidly evolving health care delivery system."
During his career, Mr. Fish has served as Chairman, President or CEO of a number of successful healthcare companies, focusing his efforts on driving operational improvements and increased shareholder value. From 2008 to 2012 he served as Chairman of REACH Medical Holdings, a regional air medical transport company, from 2005 to 2006 he served as Executive Chairman of Coram, Inc., a large home infusion provider, from 2002 to 2004 he served as Chairman and Chief Executive Officer of Genesis Health Ventures, a long-term care and institutional pharmacy company. Mr. Fish has also served as President and Chief Executive Officer of St. Joseph Health System – Sonoma County and Valleycare Health System, both of which are regional hospital systems in Northern California. Mr. Fish has served on the board of directors of a number of public and private healthcare companies during his career.
Concurrently with his retirement, Mr. Hendrickson is also stepping down from the Company's board of directors, where he has been the Chairman since 2005. Glenn S. Schafer, who has served as a member of the Company's board of directors since 2006 and currently serves as the Chairman of its compensation committee, has been appointed to serve as Chairman of the Board effective immediately.
About Skilled Healthcare Group, Inc.
Skilled Healthcare Group, Inc., based in Foothill Ranch, California, is a holding company with subsidiary healthcare services companies, which in the aggregate had trailing twelve month revenue of approximately $864 million and approximately 15,000 employees as of September 30, 2013. Skilled Healthcare Group and its wholly-owned companies, collectively referred to as the "Company," operate long-term care facilities and provide a wide range of post-acute care services, with a strategic emphasis on sub-acute specialty health care. The Company operates long-term care facilities in California, Iowa, Kansas, Missouri, Nebraska, Nevada, New Mexico and Texas, including 74 skilled nursing facilities that offer sub-acute care and rehabilitative and specialty health skilled nursing care, and 22 assisted living facilities that provide room and board and social services. In addition, the Company provides physical, occupational and speech therapy in Company-operated facilities and unaffiliated facilities. Furthermore, the Company provides hospice and home health care in Arizona, California, Idaho, Montana, New Mexico and Nevada. The Company leases 5 skilled nursing facilities in California to an unaffiliated third party operator. More information about Skilled Healthcare is available at www.skilledhealthcaregroup.com.
Forward Looking Statements
This release includes "forward-looking statements." You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain words such as "may," "will," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "continue" or "pursue," or the negative or other variations thereof or comparable terminology. They include statements about our expectations regarding the Company's future prospects for success. These forward-looking statements are based on current expectations and projections about future events. Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, the actual performance of Skilled Healthcare may differ materially from that expressed or implied by such forward-looking statements. Additionally, the Company faces a number of other risks and uncertainties, including, but not limited to, the factors described in Skilled Healthcare's Annual Report on Form 10-K for the year ended December 31, 2012 filed with the Securities and Exchange Commission (including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein) and in our subsequent reports on Form 10-Q and Form 8-K. Any forward-looking statements are made only as of the date of this release. Skilled Healthcare disclaims any obligation to update the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements.
Skilled Healthcare Group, Inc.
SOURCE Skilled Healthcare Group, Inc.