AdCare facilities
Ohio facilities owned, leased or managed by AdCare Health Systems Inc.
Scores are taken from the 2009 resident survey done by the Ohio Department of Aging, which looks at quality of care, rooms, staff and patient satisfaction. Scores are out of 100. The state average score for nursing homes is 85.9. The state average for assisted living facilities is 92.1. The state average for health inspection citations is 5.2 and 1.2 for assisted living facilities
Nursing Homes
Facility City Score Beds Health inspection citations
Adkins Care Center East Liverpool 86.4 56 3
Quaker Heights Care Community Waynesville 86 98 2
West Toledo Health Care and Rehab Center Toledo 79.4 78 13
Butler County Care Facility Hamilton 78.4 109 7
Welcome Nursing Home Oberlin 89.3 108 1
Covington Care Center Covington 86.4 94 5
Hearth and Care at Greenfield Greenfield 89.5 50 1
Koester Pavilion Troy 86.3 150 2 (2011)
The Pavilion Sidney 88.3 50 3
SpringMeade Health Center Tipp City 88.1 99 3
Assisted Living Facilities
Facility City Score Rooms Health inspection citations
Community’s Hearth and Home at El Camino Springfield 91.4 30 3
Community’s Hearth and Home at Harding Springfield 92.2 23 2
Community’s Hearth and Home at Urbana Urbana 94.6 50 5
Hearth and Home at Van Wert Van Wert 90.1 36 4
Hearth and Home of Vandalia Dayton 92.6 70 0
Legacy Village Assisted Living Xenia 92.6 30 0
Lincoln Lodge Retirement Residence Columbus 95.8 53 0
SpringMeade Residence* Tipp City N/A N/A N/A
* not listed by state, is the independent living facility for SpringMeade Health Center
By Everdeen Mason
Staff Writer
SPRINGFIELD — AdCare Health Systems Inc. started in 1988 in Springfield as a management company nursing homes could consult or hire as administrators.
Now, the company owns and manages nursing homes in nine different states, including Ohio, and has expanded to managing assisted-living facilities and home care businesses.
“We just announced last month our biggest contract, where we signed for 15 nursing centers which are in South Carolina, North Carolina, Virginia and Tennessee,” said David Tenwick, chairman of the AdCare board of directors. The cost of the facilities is $38.5 million.
That would bring the company up to an estimated $93 million in revenue.
Last year, AdCare gross revenue was $53.2 million, and the year before was $26.7 million, according to a 2010 annual report. Tenwick said the company could gross between $150 million and $175 million in revenue in 12 months at this rate.
The rapid growth is part of a plan formed in 2006.
“We were only focused in Ohio until a few years ago, when we went public in November, 2006, in order to raise some capital and get currency for our stock to make acquisitions,” Tenwick said.
It took until March 2010, for the company to have enough capital to make its first acquisition agreement — two nursing homes in Alabama for a cost of $18.5 million.
Since then, AdCare has made agreements to purchase or lease 46 nursing homes, and are looking to make deals in Ohio next, Tenwick said.
However promising the new acquisitions are, they have taken a toll on company finances. Tenwick said AdCare has not been profitable since 2009, when the company had a year-end balance of more than $440,000. According to a 2010 annual report, AdCare was in debt $12.5 million as of December 2010.
“We’ve been increasing our revenues, but we haven’t been profitable from a bottom-line standpoint,” Tenwick said. “We’re starting to focus on the cash flow aspects; we’re doing that right now.”
Despite AdCare’s increasingly national direction, the company is still headquartered in Springfield.
AdCare was founded in 1988 by Gary Wade, who retired as CEO and president in June, and J. Michael Williams, said Andy Wade, son of Gary Wade and vice president of assisted living and home health services. Gary Wade was a nursing home administrator in Springfield, working in St. John’s Center, and Williams had a background in hospital administration.
“They got together and formed a management company to provide management for nursing homes or a la carte type consulting,” Andy Wade said.
In 1995, AdCare was purchased by an assisted-living management company Passport Retirement, which merged with AdCare and kept the name, said Tenwick, who founded Passport Retirement in 1991 and formed the merger in 1995.
Shortly after, AdCare worked with then Community Hospital to build two assisted-living facilities in Springfield and one in Urbana, Tenwick said. AdCare purchased the hospital’s share after the merger of Community and Mercy Medical Center in 2008.
After working with assisted living and nursing homes, AdCare entered the home care market in 2005, just a year before going public.
“It was just kind of a natural addition to our existing offerings,” Wade said. “Home health is a way to provide health care and services to people in their home, to people in communities or people who reside in assisted living facilities. It’s less expensive for the community to have more people who are receiving home care.”
Contact this reporter at (937) 328-0371 or emason@coxohio.com