With headquarters in Springfield, Ohio, AdCare Health Systems Inc. acquires, develops, owns, and manages assisted living facilities, nursing homes, and retirement communities in Ohio. They also provide home health care services, dementia/Alzheimer’s units, and sub-acute units. Founded in 1988, the company trades on the American Stock Exchange as part of the Long-Term Care Facilities industry.
AdCare Health Systems Inc. became a publicly traded company in November 2006. They have a current market capitalization of $8.18M. Along with owning facilities, the company also manages facilities owned by third parties. They have approximately 850 employees and the AdCare professional team has more than two hundred years of combined senior living management, development, and consulting experience.
The company manages fifteen facilities. Seven are assisted-living enterprises under the name Hearth and Home. Six facilities are skilled nursing centers. Their two other facilities are independent senior living communities. AdCare Health Systems manages both not-for-profit and for profit organizations.
The company provides operations management and strategies, development and acquisition, and financial management and reporting services. In addition, they provide market feasibility and financial feasibility services for proposed or existing facilities. AdCare Health Systems also provides development, consulting, and accounting services to hospitals, churches, universities, and other organizations.
AdCare Health Systems Inc. is continuing to absorb the necessary costs of being a public company but they are energized about being listed on the American Stock Exchange. David A. Tenwick, Chairman of AdCare, said, “Our plan is to utilize the advantages of being a public company by expanding operations through acquisitions in like or complimentary business areas such as rehabilitation services, institutional pharmacy and hospice, as well as raising additional capital. To assist us in carrying out our plans, we have engaged Prospect Financial Advisors.”
AdCare Health Systems Inc. continues to set the standard for senior living in Ohio. Their mission is to provide their internal and external customers with innovative products and services that exceed their expectations, while ensuring growth for the company, their employees, and their shareholders. AdCare Health Systems Inc.’s commitment is to people every step of the way.
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