LifeCare Holdings, Plano, Texas, said W. Earl Reed III has resigned as chairman and chief executive officer to rejoin the Allegro Group, a Louisville, Ky.-based healthcare advisory firm.
William Hamburg, president of Interim Management Solutions, will serve as interim chairman and CEO. Hamburg has had experience serving as an interim executive. Previously he was the interim chief operating officer and interim chief development officer of HealthSouth Corp., Birmingham, Ala., during its management transition. He also served as interim CEO for Cogent Healthcare, a private hospital company in Irvine, Calif. Hamburg also served as president and CEO of MediSphere Health Partners, which was later acquired by Symbion.
The news of Reeds departure is the latest in a string of high-level executive changes in the long-term-care industry. In mid-July, Regency Hospital Co., Alpharetta, Ga., confirmed its search for a new president and CEO, but said Rod Laughlin, the companys founder, president and CEO, will remain at the company.
This was weeks after Ron Drabik, Regencys chief financial officer, left to become the CFO at Policy Studies, a Denver-based outsourcing, technology and consulting-services firm. And in March, Michael Cress, CEO of Austin, Texas-based Cornerstone Healthcare Group, another long-term-care company, left his position to start his own consulting firm. The Carlyle Group, a global private-equity firm, owns LifeCare, which operates long-term, acute-care hospitals in nine states. At deadline, a representative for LifeCare was not available for comment. -- by Jessica Zigmond