Exhibit 99.1
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| | Investor Contact:
Carey Hendrickson, Chief Financial Officer
972-770-5600, chendrickson@capitalsenior.com |
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FOR IMMEDIATE RELEASE | | Press Contact: |
| | Susan J. Turkell,303-766-4343,sturkell@pairelations.com |
CAPITAL SENIOR LIVING NAMES BRANDON M. RIBAR CHIEF OPERATING OFFICER
Experienced Healthcare Operations Executive to Join Senior Management Team
DALLAS, September 10, 2019…Capital Senior Living (NYSE:CSU), one of the nation’s largest operators of senior living communities, announced today the appointment of Brandon M. Ribar as chief operating officer.
Ribar brings extensive experience in healthcare operations to the Company. For nearly 10 years, he held several key operational-focused roles of increasing responsibility at Golden Living, a $3 billion post-acute healthcare provider. In his most recent role as senior vice president, operations, Ribar was responsible for overseeing operations of 305 skilled nursing and assisted living centers across 21 states, encompassing 20,000 employees. He developed and executed key strategies to drivetop- and bottom-line growth and stabilized operating performance. During his tenure, admissions increased by more than 25 percent. Additionally, he restructured and streamlined overhead support functions, resulting in approximately $20 million in annualized savings, which also contributed to the company’s operational stabilization.
While at Golden Living, Ribar also served as senior vice president, operational finance and strategy. In this position, he led corporate and business line strategic initiatives across four primary operating companies within the portfolio, including those providing skilled nursing, rehabilitation, home health and hospice services. He managed a team of more than two dozen finance professionals within a centralized operations finance function that spanned recruiting, training and performance management.
When he joined Golden Living in 2009 as senior vice president, corporate strategy and business development, he directed its corporate capital investment strategy, and led the implementation of several business intelligence, clinical informatics, and CRM technology platforms to drive strong patient outcomes and improve key operating metrics. He implemented a strategic capital deployment program on behalf of the company’s private equity owners to reinvest an average of $85 million across its real estate portfolio.