NHC Announces W. Andrew Adams Retirement from NHC Board of Directors

By: National HealthCare Corporation via Business Wire

May 08, 2025 at 17:11 PM EDT

National HealthCare Corporation (NYSE American: NHC) announces the retirement of W. Andrew “Andy” Adams from the NHC Board of Directors effective after the annual meeting of shareholders on May 8, 2025. The son of NHC founder, Dr. Carl Adams, Andy Adams has had an unparalleled career of service and leadership at NHC. He originally joined NHC in 1972 as an Executive Officer. Andy then served as NHC’s President from 1974 to 2004 and as Chief Executive Officer (CEO) from 1981 to 2004. Andy’s service on the NHC Board of Directors began in 1974 where he also served as Chairman from 1994 to 2008.

Andy had a significant impact on NHC. During his time in leadership, NHC’s revenue grew to over $521 million in 2004. The Company’s market capitalization grew from $57 million in 1983 when it became a publicly traded company to $431 million in 2004.

Robert Adams, Andy’s brother and the current Chairman of the NHC Board of Directors, expressed his gratitude to Andy, stating, "No one has played as important a role with NHC and its growth as a Company as Andy. His leadership, vision, and wisdom helped guide the Company from its early years to the leader in senior healthcare it is today. We are deeply grateful for his service and wish him all the best in retirement."

Dr. Stephen Flatt, NHC CEO, added, "Andy’s contributions to NHC are unparalleled. His ability to see the Company’s future and then guide the Company and others toward that vision have left an indelible and positive mark on the NHC community. He will be sorely missed."

As he retires from the NHC Board of Directors, we celebrate his remarkable career and contributions.

About National HealthCare Corporation

NHC affiliates operate for themselves and third parties 80 skilled nursing facilities with 10,349 beds. NHC affiliates also operate 26 assisted living communities with 1,413 units, nine independent living communities with 777 units, three behavioral health hospitals, 34 homecare agencies, and 33 hospice agencies. NHC’s other services include Alzheimer’s and memory care units, pharmacy services, a rehabilitation services company, and providing management and accounting services to third party post-acute operators. Other information about the company can be found on our web site at www.nhccare.com.

Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. The risks and uncertainties are detailed from time to time in reports filed by NHC with the Securities Exchange Commission (“SEC”), including Forms 8-K, 10-Q and 10-K. All forward-looking statements represent NHC’s best judgment as of the date of this release.