SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 9, 2018 (July 6, 2018)
Diversicare Healthcare Services, Inc.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
(Commission File Number)
(Employer Identification Number)
1621 Galleria Boulevard Brentwood, TN 37027-2926
(Address of principal executive offices)
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Retirement of Executive Officer
Today the Board of Directors of Diversicare Healthcare Services, Inc. announced the retirement of Kelly Gill as President and Chief Executive Officer of the Company, effective July 6, 2018. A copy of the press release announcing the resignation is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.
(c) Newly Appointed Executive Officer
The Board of Directors of Diversicare Healthcare Services, Inc. also announced the appointment of James R. McKnight, Jr. as President, Chief Executive Officer of the Company. Mr. McKnight currently serves as Chief Financial Officer. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.
Item 9.01. Financial Statements and Exhibits.
99.1Press release date July 9, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DIVERSICARE HEALTHCARE SERVICES, INC.
By: /s/ James R. McKnight, Jr.
James R. McKnight, Jr.
Chief Financial Officer
Date: July 9, 2018
James R. McKnight, Jr
Diversicare announces retirement of Chief Executive Officer and appointment of Jay McKnight
as new Chief Executive Officer
BRENTWOOD, TN, (July 9, 2018) - Diversicare Healthcare Services, Inc. (NASDAQ: DVCR) today announced that Kelly J. Gill has retired as Chief Executive Officer of Diversicare effective July 6, 2018. The Company also announced that it has appointed James R. McKnight, Jr. as Chief Executive Officer of the Company effective immediately. Mr. McKnight joined Diversicare in August 2012 as Chief Financial Officer.
The Chairman of the Board, Chad McCurdy, said “On behalf of the entire Board, we thank Kelly for his many contributions to Diversicare over the past eight years. Initially as the Company’s Chief Operating Officer, and later as Chief Executive Officer, he led the Company through very difficult economic times. In recent years, Kelly implemented several initiatives such as the full implementation of Electronic Medical Records at all of our facilities and the successful assumption of the operations of 22 centers in Alabama and Mississippi.
McCurdy added, “We are pleased to have Jay take on additional responsibilities with the Company and look forward to his continued success.”
Prior to joining the Company, Mr. McKnight served as Chief Financial Officer of NuScriptRX. Mr. McKnight joined NuScriptRX in May 2009 in a senior financial role and was promoted to CFO in 2010. He served as Vice President, Corporate Controller from July 2005 to January 2009 at Take Care Health Systems, Employer Solutions Group, and its predecessor company I-trax, Inc. Earlier in his career, Mr. McKnight served as Director of Financial Reporting and Quality Assurance at American HomePatient, Inc., as Audit Manager with Ernst & Young LLP, and with Arthur Andersen LLP. Mr. McKnight received a Bachelor of Science degree in accounting from Louisiana Tech University and is a certified public accountant licensed in multiple states.