National Healthcare Corporation (NHC) has announced the retirement of R. Michael Ussery, the company's President and Chief Operating Officer, effective December 31, 2025. Ussery has had a distinguished 45-year career at NHC, having joined the company in 1980 and ascending to the roles of Chief Operating Officer in 2009 and President in 2017.
Under Ussery's leadership as President and COO, NHC has experienced significant growth and change. The company's financial performance reflects this, with an increase in both revenue and net income over the last period. NHC's revenue for the current period stands at $265 million, representing a 5% increase from the previous period's $252 million. Net income has also seen a growth of 8%, rising to $18 million from $16.6 million in the prior period.
NHC operates 80 skilled nursing facilities with 10,349 beds, 26 assisted living communities with 1,413 units, nine independent living communities with 777 units, three behavioral health hospitals, 34 homecare agencies, and 32 hospice agencies. The company's diverse service offerings also include Alzheimer's and memory care units, pharmacy services, a rehabilitation services company, and management and accounting services for third-party post-acute operators.
Steve Flatt, Chief Executive Officer of NHC, expressed gratitude for Ussery's contributions and emphasized his integral role in shaping the company's success. Similarly, NHC's Board Chairman, Robert Adams, lauded Ussery's exceptional work ethic and outstanding leadership throughout his tenure.
As Ussery looks forward to retirement, NHC reassures stakeholders that the company's future remains promising, with a strong foundation for continued success. Following these announcements, the company's shares moved 3.38%, and are now trading at a price of $126.41. For more information, read the company's full 8-K submission here.
