(b) Resignation of Executive Officer

Today the Board of Directors of Diversicare Healthcare Services, Inc. announced the resignation of Leslie C. Campbell as Executive Vice President and Chief Operating Officer of the Company, effective March 31, 2020. In connection with her resignation, on February 14, 2020, the Company and Ms. Campbell entered into a Separation Agreement memorializing the terms of her separation of employment (the “Separation Agreement”). The Separation Agreement provides that, in consideration for Ms. Campbell’s release of claims against the Company and its affiliates and her post-employment covenants set forth in the Separation Agreement, Ms. Campbell will be entitled to receive separation benefits equal to $187,500, which is her 2019 bonus.>

>(c) Newly Appointed Executive Officer

The Board of Directors of Diversicare Healthcare Services, Inc. also announced that it has entered into an offer letter with Rebecca B. Bodie, age 63, to hire her as Executive Vice President and Chief Operating Officer of the Company. Ms. Bodie will re-join the Company no later than March 16, 2020 at an initial salary of $300,000.

Prior to joining the Company, Ms. Bodie served in the Department of Operations at Consulate Health Care Services for the past four years. Consulate is a provider of senior healthcare services, specializing in post-acute care. Ms. Bodie also spent three years at Diversicare Management Services, where she served as Vice President of Operations. Ms. Bodie is an occupational therapist and a licensed nursing home administrator.

A copy of the press release announcing the resignation of Ms. Campbell and the appointment of Ms. Bodie is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01Financial Statement and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1Press Release dated February 20, 2020

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

Diversicare Healthcare Services, Inc. Exhibit
EX-99.1 2 ex991cooannouncement.htm EXHIBIT 99.1 Exhibit             Company Contact:  Investor Relations:James R. McKnight,…
To view the full exhibit click here

About Diversicare Healthcare Services, Inc. (NASDAQ:DVCR)

Diversicare Healthcare Services, Inc. provides post-acute care services to nursing center patients and residents in approximately nine states, primarily in the Southeast and the Southwest United States. The Company’s post-acute care services to patients and residents include skilled nursing, ancillary healthcare services and assisted living. In addition to the nursing, personal care and social services that are provided in long-term care centers, the Company offers a range of rehabilitative, respiratory and other ancillary services. The Company’s operations consist of approximately 60 nursing and senior housing centers with approximately 6,060 licensed nursing beds. Its nursing centers range in size from 48 to 320 licensed nursing beds. The nursing centers provide nursing healthcare services, including nutrition services, recreational therapy, social services and laundry services. The Company operates in Alabama, Florida, Indiana, Kansas, Kentucky, Missouri, Ohio, Tennessee and Texas.