NASHVILLE, Tenn., Feb. 14, 2013 /PRNewswire/ -- RegionalCare Hospital Partners Inc., ("RegionalCare" or "the Company") a leading owner and operator of regionally-focused community hospitals in non-urban markets across the United States, today announced it has promoted Martin S. Rash to Executive Chairman and named Kent H. Wallace as Chief Executive Officer (CEO).
Mr. Rash, who founded the company in 2009, will continue to lead the Company's strategy and business development activities.
Mr. Wallace, who previously served as President and Chief Operating Officer at Vanguard Health Systems (NYSE: VHS), assumes the CEO title from Mr. Rash and takes on the responsibilities of RegionalCare's President and Chief Operating Officer, John M. Rutledge, who is leaving the Company to return to other business endeavors.
"Kent is one of the leading healthcare service executives in the country and brings a tremendous depth of experience and proven leadership to the Company," said Mr. Rash. "I look forward to working closely with Kent to accelerate the growth of RegionalCare's seven-hospital system and to expand its geographic presence across the United States."
"RegionalCare is well-positioned for future growth and I look forward to building on its success," said Mr. Wallace. "I am excited about taking on this new role and collaborating with my new colleagues to deliver the high quality care and compassionate service that RegionalCare's hospital patients have come to expect."
Mr. Rash added, "On behalf of RegionalCare's Board of Directors and the entire RegionalCare team, I'd like to thank John for his many contributions and dedication to the Company. Three years ago, John joined me in launching RegionalCare and many of our significant operational and financial successes have come under his leadership. We wish John the very best as he returns to his other business endeavors."
Mr. Wallace will also join RegionalCare's Board of Directors. These leadership appointments are effective March 1, 2013.
About Kent H. Wallace
Mr. Wallace previously served as Vanguard's President and Chief Operating Officer since 2005. Prior to being named as Vanguard's President and Chief Operating Officer, he served for three years as Market President for Vanguard's Texas Region, "the Baptist Health System," a leading provider of health care in San Antonio and South Texas comprised of five acute-care hospitals and other related health care services. Prior to Vanguard, he was Group President for Province Healthcare, Columbia/HCA and HealthTrust. He has more than 25 years of healthcare operations experience.
About RegionalCare Hospital Partners
RegionalCare Hospital Partners was founded in 2009 with a $300 million investment from Warburg Pincus. With a commitment to high quality care and compassionate service, RegionalCare has quickly grown to a seven-hospital system. More information can be found at www.regionalcare.net.
RegionalCare Hospital Partners
SOURCE RegionalCare Hospital Partners