AdCare Health Systems - McKnight's Senior Living

AdCare Health Systems

AdCare reorganization vote slated for Sept. 20

Shareholders will vote Sept. 20 on a proposed reorganization after which AdCare Health Systems would be known as Regional Health Properties, Allan Rimland, the self-managed real estate investment company’s president, CEO and chief financial officer, told participants in a second-quarter earnings call Monday.

William McBride III

AdCare fires CEO for lying about his credentials

AdCare Health Systems fired its CEO and chairman of the board, William McBride III, on Monday after an internal investigation revealed that he had lied about his educational background, the company said in a filing with the Securities and Exchange Commission.

AdCare may change name to Regional Health Properties

AdCare Health Systems may change its name to Regional Health Properties under a reorganization to be considered at a special meeting of shareholders in the second quarter, the company announced March 24 in conjunction with its fourth quarter earnings call.

Securities and Exchange Commission logo

SEC charges senior living exec with fraud, freezes assets

An Atlanta-based businessman amassed nearly $190 million through municipal bond and private placement offerings in which investors purportedly earned interest from revenues generated by the assisted living community, nursing home or other retirement housing projects supported by their investment, according to the Securities and Exchange Commission.

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