| NASHVILLE, TN - Essent Healthcare Inc. has named Bryan P. Marsal, co-founder and managing partner of New York-based Alvarez & Marsal, to its Board of Directors, officials announced today.
Marsal fills a newly created seat established when Vestar Capital Partners led an $80 million investment in the company in January 2004.
"Smart, experienced governance is invaluable for a growing company like Essent," said W. Hudson Connery Jr., Essent's President and Chief Executive Officer.
"Bryan brings to the board a rich concentration of business skills. His ability to find and create opportunity in adversity fits well with our proven acquisition strategy of discovering great investments in great communities where others see only risk."
Marsal brings to Essent an extensive healthcare industry background, having recently served as the Chief Restructuring Officer of Birmingham-based HEALTHSOUTH Corporation and as Chairman and Chief Executive Officer of Republic Health. He has also served as Chief Restructuring Adviser of Arthur Anderson LLP and as chairman and CEO of Cluett American Corp., Anthony Manufacturing and Gitano.
"Essent has demonstrated a strong ability to build value for both its shareholders and the communities it serves, in part by being very deliberate about its acquisitions and successful in its turnarounds," Marsal said. "I admire that and am delighted to lend my problem-solving, operational and financial experience to such a young, yet accomplished company."
Essent Healthcare
Essent Healthcare was founded in 1999 with the mission of acquiring community hospitals and providing them with the financial resources and the expertise they need to grow. Today, Essent hospitals include Merrimack Valley Hospital in Haverhill, Mass., Sharon Hospital in Sharon, Conn., Nashoba Valley Medical Center in Ayer, Mass., Crossroads Regional Medical Center in Wentzville, Mo., and Paris Regional Medical Center in Paris, Texas.
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