Posted by Gerald Coggin on July 28, 2011
For release July 28, 2011
Contact: Gerald Coggin, Senior VP of Corporate Relations
Phone: (615) 890-2020
MURFREESBORO, Tenn. – National HealthCare Corporation (NYSE Amex: NHC, NHC.PRA), one of the nation’s oldest long-term health care companies, celebrated its 40th anniversary on July 23, 2011.
From modest beginnings as a small start-up nursing home company in middle Tennessee, NHC has grown to be one of the nation’s largest operators of senior care with services which include not only skilled nursing, but home care, assisted living, independent living, rehabilitation, and hospice care. It operates 158 locations in 11 states and employs over 13,000 partners. This year it is estimated that the company will provide care or services to over 40,000 customers.
“From our founding in 1971 through our growth today and our plans for the future, one thing remains unchanged – our commitment to quality, consistent and loving care.” stated CEO Robert Adams. “As we commemorate our 40th year, we thank all the families, medical professionals, residents, patients, communities and partners who help us celebrate life every day.”
On March 7, 1971 Dr. Carl Adams and several middle Tennessee associates purchased 14 health care centers in three states (TN, GA, and KY) from Health Care, Inc. for $3.75 million. At the end of its first year of operation, the start-up company had a cash balance of $53.06. Forty years later, NHC is one of the most successful senior care companies in the country with annual revenues in excess of $700 million and net income of over $50 million in 2010. In addition to its financial success, NHC maintains strong occupancy in its health care centers and receives consistent high scores in the areas of customer and partner satisfaction.