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May 24, 2015 12:01 AM ET

Healthcare Providers and Services

Company Overview of Diversicare Healthcare Services Inc.

Company Overview

Diversicare Healthcare Services, Inc., together with its subsidiaries, provides long-term care services to nursing center patients and residents primarily in the Southwest and Southeast. The company offers skilled nursing health care services, which include nutrition services, recreational therapy, social services, housekeeping, and laundry services; rehabilitation therapy services, such as audiology, speech, occupational, and physical therapies; and medical supplies, nutritional support, infusion therapies, and related clinical services. As of December 31, 2014, it operated 52 nursing centers with 5,825 licensed nursing beds. The company was formerly known as Advocat Inc. and changed its na...

1621 Galleria Boulevard

Brentwood, TN 37027

United States

Founded in 1994

4,200 Employees

Phone:

615-771-7575

Fax:

615-771-7409

Key Executives for Diversicare Healthcare Services Inc.

Chief Executive Officer, President and Director
Age: 59
Total Annual Compensation: $450.0K
Chief Financial Officer, Executive Vice President and Secretary
Age: 39
Total Annual Compensation: $275.0K
Chief Operating Officer and Executive Vice President
Age: 46
Total Annual Compensation: $300.0K
Compensation as of Fiscal Year 2014.

Diversicare Healthcare Services Inc. Key Developments

Diversicare Healthcare Services Announces Quarterly Dividend, Payable on July 14, 2015

Diversicare Healthcare Services Inc. announced that on May 6, 2015, the Board of Directors declared a quarterly dividend of $0.055 per common share payable to shareholders of record as of June 30, 2015, to be paid on July 14, 2015.

Diversicare Healthcare Services Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Diversicare Healthcare Services Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported patient revenues, net of $ 95,225,000 against $77,799,000 a year ago. Operating income was $850,000 against $98,000 a year ago. Income from continuing operations before income taxes was $8,000 against loss of $797,000 a year ago. Net income from continuing operations was $5,000 or $0.05 per basic and diluted share against loss of $433,000 or $0.05 per basic and diluted share a year ago. Net loss attributable to the company’s common shareholders was $258,000 or $0.04 per basic and diluted share against $1,020,000 or $0.19 per basic and diluted share a year ago. EBITDA was increased to $2,837,000 compared to $1,830,000 in 2014. Adjusted EBITDA was $2,647,000 against $1,940,000 a year ago. Adjusted net income attributable to the company’s common shareholders was $109,000 or $0.02 per basic and diluted share against loss of $422,000 or $0.07 per basic and diluted share a year ago. Funds provided by operations were $3,937,000 or $0.65 per basic and diluted share against $ 2,672,000 or $0.45 per basic and diluted share a year ago.

Diversicare Healthcare Services Seeks Acquisitions

Diversicare Healthcare Services Inc. (NasdaqCM:DVCR) seek to grow the company through selective acquisitions. Kelly Gill, Diversicare's Chief Executive Officer stated, "We look forward to sustaining the momentum we have built over the last couple of years. We are pleased to have recently closed two new acquisitions already for the year and we believe we are positioned to continue the growth and evolution of the business."

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