Regional Health Properties, Inc. announced that as a result of the completion of the previously announced merger with its former parent, AdCare Health Systems, Inc., the company has regained compliance with certain NYSE American LLC continued listing standards. In addition, Allan J. Rimland, the President, Chief Executive Officer, Chief Financial Officer and a director of the company resigned, effective October 17, 2017, from all positions he held with the company and its subsidiaries for personal reasons and to explore other career opportunities. The Board of Directors has appointed Brent Morrison, a director of the company, to serve as its interim Chief Executive Officer and E. Clinton Cain, the company's Senior Vice President, Chief Accounting Officer and Controller, to serve as its interim Chief Financial Officer.

In addition, the Board of Directors established a Strategic Finance Committee of the Board, composed of Brian Szames and David A. Tenwick, to assist and advise Messrs. Morrison and Cain with respect to financial strategy. The Board said that Mr. Cain is being considered for the Chief Financial Officer position.