WARRENVILLE, Ill.--(BUSINESS WIRE)--Symbria, Inc., a leading provider of innovative rehabilitation and wellness programs, pharmacy services, experience surveys, and IT consulting for senior-living and post-acute providers, has announced a change in its ownership structure. Previously privately held, Symbria became an Employee Stock Ownership Plan (ESOP) company on October 31, 2015. As an ESOP company, Symbria will distribute shares to the retirement accounts of its more than 2,000 employees. In addition, the company has named a new board of directors.
“This marks the most important milestone in our company’s 20-year history,” said Symbria President and CEO Jill Krueger. “More than just a retirement plan for our employees, our new structure is a true reflection of our corporate culture, which values each of our employees’ individual contributions to our clients and the company as a whole. This, coupled with our industry-leading focus on quality, integrity, ethics, and an unwavering commitment to meaningfully improving the lives and well-being of our clients’ patients and residents, has been central to our growth. Now that our employees have an even greater appreciation of the impact of their own contributions to our collective future, we look forward to achieving new levels of client and partner satisfaction and growth.”
“In an industry prone to consolidation, we have proactively and purposefully chosen to remain independent with this move,” said Symbria CFO Thomas Noesen, Jr. “Our mission is now firmly in the hands of our leadership and employees, and we are confident that this will help position us for Symbria’s best possible future.”
Symbria Names New Board
In announcing Symbria’s new board, Krueger said, “Our new board is strategically composed of highly-respected business leaders with diverse expertise and professional backgrounds in finance, marketing, and strategic planning. They also boast a strong track record of volunteerism, board service, and a genuine interest in healthcare.”
Symbria’s new board members include:
- Lisa Cochrane, former senior vice president of marketing, Allstate Corporation
- James M. Hussey, former president, Sagent Pharmaceuticals
- Jill M. Krueger, president and CEO, Symbria, Inc.
- Roger Lumpp, former partner in the insurance practices of Arthur Andersen and recently retired from KPMG
- Jim Stark, retired partner-in-charge, KPMG Chicago’s Healthcare Audit Practice
- Duane M. Tyler, national leader, McGladrey Center for Business Transition
- Albert Weiss CFO, Forsythe Technology
Symbria’s previous Board was composed of representatives from the company’s former shareholder organizations. “They were closely involved in this transformation to a ‘new Symbria,’ and I know they will maintain a strong interest in our continued success,” Krueger added.
“Our experienced leadership team will remain in place,” Krueger said, “and we will continue to foster a nimble culture characterized by commitment, passion, innovation and aggressive growth. We are all re-energized and inspired by this transformation and the opportunity to contribute to our own futures in a very direct way.”
About Symbria
With $130 million in revenue, Symbria is a leading national developer and provider of innovative products and services dedicated to helping post-acute and senior-living providers deliver proven quality, better manage costs, and gain competitive advantage. These are the companies of Symbria: Symbria® Rx Services provides innovative and efficient medication management programs for the full spectrum of senior living—skilled nursing, assisted living, and independent living. Alliance Rehab™ provides physical, occupational, speech-language pathology, and respiratory therapy, along with wellness programs and a proprietary functional assessment tool. Symbria® Analytics offers inQ™ Experience Surveys for residents, families, employees, and physician; IT consulting services; SAFE, a Patient Safety Organization; and physician alignment resources. The company is based in Warrenville, IL, and does business in 20 states nationwide. Visit www.symbria.com.
