Advocat Announces Name Change
BRENTWOOD, Tenn., March 14, 2013 (GLOBE NEWSWIRE) -- Advocat Inc.
(Nasdaq:AVCA), a premier provider of long term care services primarily in the
Southeast and Southwest, today announced that the Company will be changing its
legal name to Diversicare Healthcare Services, Inc. in alignment with the
naming of its operating subsidiaries. Effective after the close of business on
March 15, 2013, NASDAQ will migrate the Company's ticker symbol from AVCA to
DVCR. The Company's website, www.advocat-inc.com, soon to be www.dvcr.com,
will reflect the rebranding before the market opens on March 18, 2013.
Commenting on the name change, Kelly J. Gill, the Company's President and
Chief Executive Officer, stated, "We are excited to be rebranding our public
company to match the naming of our operating subsidiaries and branding of our
healthcare centers. Diversicare's mission is to improve every life we touch by
providing exceptional healthcare and exceeding expectations. The Diversicare
culture is built on the five core values of Integrity, Excellence, Compassion,
Teamwork and Stewardship. These values apply not only in providing quality
care, but also in our relationship with our shareholders. Our patients and
residents, as well as many of our shareholders, know us as Diversicare and we
are proud to have unified branding throughout our organization. Diversicare is
a trusted name with decades of quality care as its legacy. This change in name
and refocusing on our mission, vision and values is another step in our
commitment to growing shareholder value and providing quality patient care."
Diversicare provides long-term care services to patients in 48 skilled nursing
centers containing 5,538 licensed nursing beds, primarily in the Southeast and
Southwest. For additional information about the Company, visit our website:
www.advocat-inc.com or www.dvcr.com.
CONTACT: Company Contact:
Kelly J. Gill
Chief Executive Officer
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