Long-term acute-care provider Regency Hospital Co. has begun a search for a new president and CEO, confirmed Kelly Laughlin, a spokeswoman for the Alpharetta, Ga.-based company and wife of Rod Laughlin, Regencys founder and current president and CEO. However, Kelly Laughlin said her husband, 60, has no intentions of leaving the company and could possibly stay on as the companys chairman.
Rods love is business development and growing the company and focusing on the culture of our hospitals, Kelly Laughlin said. That will allow him to do more of thatwaving the flag of Regency and continuing to grow the business, she said, adding that the new presidentwho will be chosen from a pool that includes both internal and external candidatesneeds to be a person who understands the long-term-care hospital segment and has a love of hospital operations.
According to Kelly Laughlin, the move comes at a time when the CMS continues to reduce reimbursement while costs continue to rise and will allow Regency to meet the expectations of its board and shareholders. The new candidate could be announced by late summer or early fall, she said. Established in 2001 by Laughlin and private equity firm Waud Capital Partners, Regency has 22 long-term-care hospitals. -- by Jessica Zigmond