April was a cruel month for Helian Health Group.
Thomas Wilson, Helian's founder, chairman, chief executive officer and president, unexpectedly resigned from the Monterey, Calif.-based outpatient surgery and recovery-care company.
News of Wilson's abrupt resignation coincided with Helian's release of its first-quarter earnings, in which the company reported a net loss ofOutpatient care
$558,000, or 10 cents per share, for the period ended Feb. 28. That was in sharp contrast to the year-ago period, when the company had net income of $150,000, or 3 cents per share. Revenues dropped 14% to $7.7 million.
William Hines, Helian's president and chief operating officer, said Wilson left the company because of "philosophical differences" with Helian's board of directors.
Hines said Wilson's departure wasn't related to the company's poor first-quarter earnings.
"It's a situation where we want to move the company fairly aggressively," said Hines. "We want to remain in both lines of business: outpatient surgery and occupational medicine. And we want end up a survivor in both those markets."
Wilson, who received $800,000 in severance resulting from his departure, said his resignation "was in the best interests of shareholders and employees. When you have philosophical differences, it's best to separate."
Wilson will remain one of the company's largest shareholders. He's in the process of forming a new outpatient ambulatory-care contract management company called WellSpring, also based in Monterey.
Wilson's replacement is longtime Helian director Lawrence Dolin, whose father, Nate Dolin, helped Wilson start the company in 1986.
Dolin, 51, was named chairman in April. He was named chief executive officer of the company last week.
Dolin said the company plans to expand its services in three key states: Arizona, California and Georgia.