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Mr. Parsons has over 30 years of experience in the healthcare industry, having most recently served as the Chief Operating Officer and Director of Triad Hospitals Inc. (TRI). While at TRI, Mr. Parsons expanded the company from 28 acute care hospitals with annual net revenues of $1.2 billion in 1999 to 53 acute care hospitals with annual net revenues in excess of $5.5 billion by the time of his departure in 2007. Triad became a Fortune 500 company during his tenure and ranked number one in annual earnings per share percentage growth for all Fortune 500 companies for the years 2001-2006. Prior to his tenure at Triad, Mr. Parsons served in a senior executive capacity for Hospital Corporation of America (HCA) from 1994-1999.
"Mike is a highly talented and skilled executive with significant experience in the hospital side of the healthcare system," said Fazle Husain, Managing Director of Metalmark Capital and member of the Board of Directors of SouthernCare. "We are pleased that Mike will bring his substantial experience and first-hand insight to SouthernCare and I am confident that the company will continue to thrive under his leadership and direction."
"It is a privilege to join SouthernCare and lead the company into the next chapter of its development," said Michael Parsons. "I have been touched by the compassion and spirit of SouthernCare's employees. The hospice industry provides a valuable service to those in need and is an integral part of the healthcare delivery system. With our commitment to keeping the patient at the center of our business, I am confident that SouthernCare will continue its outstanding tradition of caring for patients and family members in their time of need. I look forward to guiding SouthernCare into its exciting new future and building on its many strengths."
Mr. Parsons spent 1981-1994 in various executive finance roles at hospitals across the country through National Medical Enterprises (NME). While with NME his roles included Chief Financial Officer of USC University Hospital in Los Angeles, St. Charles General Hospital in New Orleans and F. Edward Herbert Hospital in Gretna, Louisiana.
Mr. Parsons has significant understanding of the management of hospital companies from his board affiliations. From 2003-2007, he served as Board Director for the Federation of American Hospitals and was Chairman of the Board from 2005-2006. He also served as Board Director for Triad Hospitals, Inc. from 1999-2007. Mr. Parsons is currently a Board Director of Vanguard Health Systems.
Mr. Parsons received his Bachelor of Science degree in Accounting from University of New Orleans in 1977 and his Master of Business Administration degree from Pepperdine University in 1992.
About SouthernCare, Inc.
Founded in 1995 and based in Birmingham, Alabama, SouthernCare, Inc. is one of the nation's largest hospice providers. Today, the privately-owned company has 95 offices in 15 states and provides care to more than 5,000 patients each day. SouthernCare offices are located primarily in non-metropolitan areas that have a demonstrated need for hospice services. SouthernCare provides hospice services to patients who reside in private homes, group homes, assisted living facilities and skilled nursing facilities.
SOURCE: SouthernCare, Inc.
The Abernathy MacGregor Group, Inc. Winnie Lerner, 212-371-5999 wal@abmac.com
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