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Press Release Source: Quality of Life Health Corporation
Former Kindred Healthcare Executive joins Quality of Life Health Corporation's subsidiary Leisure Living Holdings, Inc., as President & CEO
Tuesday January 11, 9:01 am ET
LOS ANGELES--(BUSINESS WIRE)--Jan. 11, 2005--Mr. Rowan Farber, President of Quality of Life Health Corporation (Pink Sheets: QLHC - News) announced today that Mr. Lou Andriotti has joined the Company's long-term care, assisted living subsidiary, Leisure Living Holdings, Inc., as President & CEO.
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Mr. Farber said Mr. Andriotti is a seasoned operations and financial executive with Healthcare, Hospitality, Construction, and Real Estate industry experience that will be most beneficial to the Company as we actively pursue acquisitions and develop programs to improve the profitability and quality performance of our existing assisted living and retirement communities.
While at Kindred Healthcare's Health Services Division, Mr. Andriotti assisted the Company in achieving the highest profit margins in the industry by crafting and leading enterprise-wide process redesign projects for rehab and ancillary services in over 300 skilled nursing facilities. He also contributed to the turnaround operations of problem and under-performing properties or multi-state regional business units consisting of over 100 skilled nursing and assisted living facilities with in excess of 11,000 beds, that resulted in helping the company emerge from bankruptcy virtually debt-free. He served as VP of Operations Planning for Holiday Inn Worldwide, overseeing key aspects of the merger between Bass PLC and Holiday Inn, responsible for the integration of acquisitions in the Americas, Latin America and the Caribbean, business strategy, and new brand development. Mr. Andriotti recalled that the pinnacle success of his career as a hospitality executive was being retained to oversee accommodations for the 1996 Atlanta Olympic Games. In this once-in-a-lifetime role he ran the most challenging lodging operation in the world that consisted of daily precision management of 25 venue sites with a mission to exceed the unique and diverse hospitality and safety needs of over 25,000 international guests and Olympic constituents.
In commenting on his new position Mr. Andriotti said that by joining QLHC's Leisure Living subsidiary, he sees a great opportunity to employ his 20 years of experience serving in a variety of change management and leadership roles especially in the Healthcare industry, having a solid record of managing complex business systems, and using Six Sigma, Lean Enterprise, and Cultural Transformation improvement methodologies to create value and gain/sustain competitive advantage.
In his new role, Mr. Andriotti will be leading a team of dedicated healthcare and hospitality professionals who aim to be a significant catalyst for advancing the emergent needs of individuals during their journey through contemporary assisted living and retirement community life. Mr. Andriotti states that undertaking doctoral studies in strategic knowledge systems and dissertation research will be invaluable to the organization, as well as to its customers by optimizing processes, innovation, and finding new ways to implement transactions in the assisted living setting that turn the everyday experiences of residents into new life meanings, foster a true sense of home and community, support longer stay "aging in place" initiatives, and "quality of life" philosophies.
Mr. Andriotti received his BA in Finance from the University of South Florida, an MBA (cum laude) from the University of Tennessee, received Six Sigma Black Belt certification through formal course work at Villanova University, where he finished at the top of his class, as well as through successful completion of numerous business transformation initiatives and process improvement projects that resulted in annual recurring cost savings in excess of $50.0 million each. He is currently enrolled in the prestigious Executive Leadership Doctoral Program at The George Washington University, in Washington, DC. He is also a member of several prominent business and professional associations.
Quality of Life Health Corporation currently operates three subsidiaries 1) Leisure Living Holdings: owns and operates premier assisted living and long term care facilities, 2) Value Health Access Corporation (www.vhac.com): implementing a national marketing initiative to provide total health management programs for the over 42 million Americans without health insurance gain affordable access to quality health care professionals and many ancillary, preventative, and alternative value-added services, and 3) Quality Health Insurance Solutions: a Managing General Agency who's principal activity is to service and market health care insurance programs for group clients.
Safe Harbor Statement:
Certain information contained in this Press Release is considered forward looking statements within the meaning of the Private Securities Litigation Act of 1995 (the "Act"), which became law in December, 1995. In order to obtain the benefits of the "safe harbor" provisions of the Act for any such forward- looking statements, we wish to caution investors and prospective investors about significant factors which, among others, have in some cases affected our actual results and are in the future likely to affect our actual results and cause them to differ materially from those expressed in any such forward- looking statements. This Press Release contains forward-looking statements relating to future operational and business prospects. Actual results may differ as a result of factors over which we have no control, including general economic and business conditions; competition; success of operating initiatives; operating costs; advertising and promotional efforts; the existence or absence of adverse publicity; changes in business strategy or development plans; the ability to retain management; availability, terms and deployment of capital; business abilities and judgment of personnel; availability of qualified personnel; labor and employment benefit costs; changes in, or failure to comply with various government regulations; cash flow and anticipated liquidity; prospect development and property acquisitions.
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Contact:
Quality of Life Health Corporation
Gordon Wolfe, Investor and Public Relations
508-993-5320
GHWolfe@AOL.com
or
George Todt, Investor Relations
310-230-0111
Email: gat@sutragroup.com
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Source: Quality of Life Health Corporation
