National
HealthCare Corporation (NYSE MKT: NHC)(NYSE MKT: NHC.PRA), is
pleased to announce that it has been named by Forbes magazine as
one of America's 100 Most Trustworthy Companies in America.
Each year, GMI Ratings provides Forbes with a list of the 100
Most Trustworthy Companies in America. The list is based on GMI’s AGR®
(Accounting & Governance Risk) forensic accounting database, which is a
tool designed to help investors assess the financial and governance
integrity of companies. AGR, covering 20,000 companies worldwide, has
proven highly accurate in predicting corporate fraud and
under-performance year after year for the last 15 years.
"The focus has always been on companies that cheat, lie, and steal,” GMI
Director James Kaplan told Forbes. “It’s also just as important
to shine some light on those companies that are transparent and
consistent in their accounting and corporate governance practices."
For the Trustworthy Companies list, GMI reviewed the accounting and
governance characteristics of more than 8,000 public companies in North
America from fourth quarter of 2012 through third quarter of 2013. Key
factors such as high risk events, revenue and expense recognition
methods, SEC actions and bankruptcy risk were considered as indicators
of a company’s credibility. The companies that generated the 100 highest
scores for trustworthy behavior made the list.
"Companies that make this list are reporting accurately on their
outcomes, good or bad," Kaplan said. "While there’s no guarantee that an
honest company is a thriving one, in most cases the companies making the
list are financially sound, with strong stock performance.”
NHC certainly fits that description.
"We are proud to be on this list – but prouder still of our employees
and our leadership team who work tirelessly so that NHC is considered
trustworthy not just by the investment community but by each and every
company with which we do business and, most importantly, the customers
we are privileged to serve," says NHC Chairman and CEO Robert Adams.
"NHC has always focused on attention to detail as the key to business
success. We recognize that attention to detail involves both how we
serve our customers and how we deal with our business partners and the
investment community," Adams said. "We are extremely honored to be
recognized as one of America's 100 most trustworthy companies."
The Forbes/GMI 100 Most Trustworthy Companies in America list is online
at http://www.forbes.com/sites/kathryndill/2014/03/18/americas-100-most-trustworthy-companies/
Forward-Looking Statements
Statements in this press release that are not historical facts are
forward-looking statements. NHC cautions investors that any
forward-looking statements made involve risks and uncertainties and are
not guarantees of future performance. The risks and uncertainties are
detailed from time to time in reports filed by NHC with the S.E.C.,
including Forms 8-K, 10-Q and 10-K, and include, among others, the
following: liabilities and other claims asserted against us and patient
care liabilities, as well as the resolution of current litigation;
availability of insurance and assets for indemnification; national and
local economic conditions; including their effect on the availability
and cost of labor, utilities and materials; the effect of government
regulations and changes in regulations governing the healthcare
industry, including our compliance with such regulations; changes in
Medicare and Medicaid payment levels and methodologies and the
application of such methodologies by the government and its fiscal
intermediaries, the ability of third parties for whom we have guaranteed
debt to refinance certain short term debt obligations; and other factors
referenced or incorporated by reference in the S.E.C. filings. The risks
included here are not exhaustive. All forward-looking statements
represent NHC’s best judgment as of the date of this release.
About NHC
NHC affiliates operate for themselves and third parties 73 long-term
health care centers with 9,410 beds. NHC affiliates also operate 37
homecare programs, five independent living centers and 17 assisted
living communities. NHC’s other services include Alzheimer’s units,
long-term care pharmacies, hospice, a rehabilitation services company,
and providing management and accounting services to third parties. Other
information about the company can be found on our web site at www.nhccare.com.
Copyright Business Wire 2014