SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2018

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On July 8, 2018 the Company entered into a membership interest purchase agreement with ALS Ontario Operating, Inc. to sell all of the issued and outstanding membership units of the Ontario Pointe facility. The transaction is expected to become effective in the third quarter of 2018.

On July 9, 2018 the Board of Directors of Diversicare Healthcare Services, Inc. announced the retirement of Kelly Gill as President, Chief Executive Officer and Board member of the Company, effective July 6, 2018. As a result of Mr. Gill's retirement, the Company recorded $1,172 in severance related expenses inclusive of $259 in additional stock based compensation expense in the second quarter of 2018. In accordance with Mr. Gill's employment agreement, the Company determined that the benefits to which Mr. Gill was entitled were probable of being paid. The Company also announced the appointment of James R. McKnight, Jr. as President and Chief Executive Officer of the Company.