Ohio-based AdCare Health Systems is an expanding national leader in the development, ownership, and management of care facilities, including:
• Nursing homes
• Assisted living facilities
• Independent living facilities
• Dementia/Alzheimer’s units
• Sub-acute units
• Retirement communities
In addition, the company provides a variety of home health care services.
AdCare currently employees over 3,000 workers, supporting a growing list of facilities in Ohio, Georgia, Alabama, and North Carolina. The company also has lease agreements covering eleven skilled nursing centers.
The company’s mission is to provide the finest in care facilities, and has a history of success in their development as well as management. In particular, the senior living facilities market is considered to be one of the most dynamic and rapidly growing sectors within the healthcare arena. Changing demographics, coupled with the limited supply of senior living facilities, clearly supports this growth. AdCare is exploiting these trends by growing both internally and through strategic acquisitions.
AdCare’s business operates under four general segments:
• Skilled Nursing Facilities – AdCare has facility ownership or lease interests, and collects fees from residents.
• Home Health – AdCare collects monthly fees, with profits/losses based on the extent by which fees exceed costs for services.
• Management & Development – AdCare receives fees for providing development, consulting, and accounting services for facilities owned by third parties.
• Assisted Living Facilities – AdCare has facility ownership or lease interests, and collects fees from residents.
One of AdCare’s greatest strengths is in facility management assessment. When the company undertakes an assessment, they are quick to point out that it is never a cookie-cutter process. They focus on the uniqueness of each facility, and develop a solution that best deals with the concerns of regulatory compliance, reimbursement challenges, and census issues.
The company has a seasoned senior management team, with substantial senior living, healthcare, and real estate industry experience. The senior management team is incentivized to continue to grow the business through their combined ownership of approximately 25.6% of the common stock.
The resulting numbers underline AdCare’s growth strategy, with revenues showing steady growth for the last 9 years, and now in line for another record breaking year in 2011.
For additional information, visit the company’s website at www.AdCareHealth.com
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