Executive Search for a Chief Operating Officer
Executive Search for an EVP/COO for Edgewood Healthcare, North Dakota’s leading senior living organization.
LM Hurley & Associates was retained to conduct a search for a Chief Operating Officer for North Dakota's leading provider of retirement living communities for seniors.
At the time of the executive search, the owner/CEO operated this well-established, well-financed, very successful company. The owner/CEO of the company is also involved in real estate, residential and commercial development, and a REIT he founded.
The client had 27 properties and 1900 units in North Dakota, South Dakota, Montana, Minnesota, Nebraska, and Wyoming. Twelve of the buildings are stand-alone memory care facilities. He also had five developments and acquisitions in his pipeline scheduled to close within 12 months.
The owner wanted to step back from the operating side of the business to spend more time with his family and focus more on growth initiatives for the company. He planned to grow the company aggressively by developing and buying existing facilities. He needed a COO to operate the new properties because the finance, development, and acquisitions are what he enjoys – not operations.
We met with the owner and the executive team at their corporate office in Fargo, North Dakota, to gain insight into the team's vision and requirements. We developed a nationwide executive search strategy to identify "top performers" in large and mid-sized senior living communities with revenue over $100 million. We targeted senior care providers. Additionally, ideal candidates for this position required:
Of the 318 prospects we contacted and screened, we interviewed 47. We narrowed the field to the top five candidates and presented them to the organization. Our client selected three individuals to interview from the five and ultimately chose a candidate that exceeded the executive search specifications. The candidate was an ideal culture fit as he was a graduate of University of North Dakota and he had the goal of returning from Seattle, WA to North Dakota where his family has a large ranch.
An offer was made and accepted within 60 days of engagement. The new COO joined the organization with over 22 years of success in assisted living, memory care, and skilled nursing. The candidate was eventually promoted to President of the company which grew from 27 to 53 communities since he was hired.