Arboreta Healthcare Announces Change in Leadership

Rhea-AI Summary

Arboreta Healthcare, Inc. (OTC PINK: ASSF) announced significant leadership changes as CEO Louis Collier, Jr. and COO Dale Poe departed on February 1, 2023. Richard Mason, former CEO of Trillium Healthcare, has been appointed interim CEO during the executive search for permanent replacements. Mason's extensive healthcare experience spans over three decades, including leadership roles in skilled nursing and post-acute healthcare. Additionally, CFO Diane Harden has submitted her resignation, effective February 8, 2023. Arboreta operates across 29 facilities in states such as Iowa, Nebraska, Texas, Florida, and Georgia, providing skilled nursing and rehabilitation services.

Positive

• Richard Mason's extensive experience in healthcare may bring stability during the transition.
• The company has a diversified operational structure with multiple divisions.

Negative

• Departure of CEO and COO may lead to uncertainty in company direction.
• Resignation of CFO could impact financial oversight during a critical period.

Former Trillium Healthcare CEO Richard Mason will act as interim CEO

SARASOTA, Fla., Feb. 10, 2023 /PRNewswire/ -- Arboreta Healthcare, Inc. (OTC PINK: ASSF) announced that Chief Executive Officer Louis Collier, Jr. and Chief Operating Officer Dale Poe have departed the company, effective February 1, 2023. While an executive search is conducted to fill these leadership positions, Richard Mason has been appointed as interim CEO.

Mason was the co-founder of Trillium Healthcare, which was acquired by Arboreta in 2021, along with Banyan Pediatric Care Centers. He is a highly experienced healthcare executive with over three decades of service in skilled nursing and post-acute healthcare. Prior to founding Trillium in 2011, Mason served as CEO of Sea Crest Healthcare for eight years and VP of operations for Beverly Healthcare from 1994 to 2002.

Arboreta Healthcare has also received a 30-day notice of resignation from Chief Financial Officer Diane Harden, tendered February 8, 2023.

Interim CEO Richard Mason will handle company leadership and day-to-day operations while the board of directors initiates a nationwide executive search to fill these leadership roles.

About Arboreta Healthcare, Inc.
Arboreta Healthcare, Inc. is a fast-growing, diversified healthcare company caring for people of all ages through three distinct operating divisions: Arboreta Healthcare, which provides exceptional skilled nursing, rehabilitation, assisted living and independent living programs across 29 facilities in Iowa, Nebraska, Texas, Florida, and Georgia; Banyan Pediatric Centers, a Prescribed Pediatric Extended Care (PPEC) program that provides nurse-staffed day care for young people (birth to 21 years) who have medical conditions that require ongoing specialized care; and Real Living Property Holdings, the real estate holding company into which all real estate is housed. For more information, visit ArboretaHealthcare.com.

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SOURCE Arboreta Healthcare

FAQ

Who is the new interim CEO of Arboreta Healthcare (ASSF)?

Richard Mason has been appointed as the interim CEO.

When did the leadership changes at Arboreta Healthcare occur?

The changes took effect on February 1, 2023.

What are the implications of the leadership changes for Arboreta Healthcare (ASSF)?

Leadership changes can create uncertainty in company strategy and operations.

How many facilities does Arboreta Healthcare operate?

Arboreta Healthcare operates 29 facilities across several states.

What experience does Richard Mason bring to Arboreta Healthcare (ASSF)?

Richard Mason has over 30 years of experience in skilled nursing and post-acute healthcare.