NEWTON, Mass.--(BUSINESS WIRE)--Five Star Senior Living Inc. (Nasdaq: FVE) today announced that it has elected to the Company’s Board of Directors Michael E. Wagner, M.D. as an Independent Director and Jennifer B. Clark as a Managing Director, effective immediately. With the addition of Dr. Wagner and Ms. Clark, Five Star now has seven Directors, including five Independent Directors and three women.
Dr. Wagner has served as Chief Physician Executive of Wellforce, a $2 billion healthcare system located throughout Eastern Massachusetts and anchored by Tufts Medical Center in Boston since May 2018. He served as Interim President and Chief Executive Officer of Wellforce during 2019. He has served on the Board of Trustees for Wellforce since 2014, including board committee membership on the Quality of Care and Governance and Nominating committees. He began his association with Tufts Medical Center in 1999 and he was President and CEO of the hospital from 2013 to 2018, President and Chief Executive Officer of Tufts Medical Center Physicians Organization from 2012 to 2014 and Chief Medical Officer from 2011 to 2013. He is also an associate professor of clinical medicine at Tufts University School of Medicine.
Ms. Clark is Executive Vice President, General Counsel and Secretary of The RMR Group Inc. (Nasdaq: RMR) and The RMR Group LLC and a member of the RMR Executive Operating Committee. Ms. Clark has been a Managing Director of RMR since 2018. Ms. Clark is responsible for all legal matters affecting the RMR managed companies. Ms. Clark is also the Secretary of all the RMR managed companies, and serves on the Board of Diversified Healthcare Trust (Nasdaq: DHC), RMR Real Estate Income Fund (NYSE American: RIF) and Sonesta International Hotels Corporation (Private). Ms. Clark is President, Chief Executive Officer and Secretary of RMR Advisors LLC, an SEC registered investment adviser. Ms. Clark is also Executive Vice President, General Counsel and Secretary of Tremont Realty Advisors LLC, a wholly owned SEC registered investment adviser subsidiary of RMR acquired in 2016. Prior to joining The RMR Group in 1999, Ms. Clark was a partner at the law firm Sullivan & Worcester LLP where she had a broad-based real estate and finance practice.
Five Star also re-designated its existing Director, Gerard M. Martin, as an Independent Director.
Adam D. Portnoy, Chair of Five Star’s Board of Directors, made the following statement about today’s election:
“We are excited to welcome Dr. Wagner and Ms. Clark to the Five Star Board of Directors. Dr. Wagner brings more than 20 years of experience as a doctor and valuable perspectives from his leadership experience working in and managing large, patient-centered healthcare providers. Ms. Clark has been instrumental in overseeing RMR’s healthcare business over the years and has extensive management experience. As Five Star continually explores the best ways to provide efficient care and excellent experiences, adding Dr. Wagner’s and Ms. Clark’s diversity of experience will be invaluable to Five Star. In addition, we are pleased to have Mr. Martin continue his involvement on the board as an Independent Director given his experience in the healthcare industry. The election of Dr. Wagner also satisfies Five Star’s agreement with DHC to add an Independent Director.”
About Five Star Senior Living Inc.
Headquartered in Newton, Massachusetts, Five Star Senior Living Inc. (Nasdaq: FVE) ranks fourth on the 2019 American Seniors Housing Association’s (ASHA) list of largest U.S. senior housing operators. With nearly 26,000 team members, the company operates 268 senior living communities in 32 states offering a platform of services, including independent living, assisted living, Alzheimer’s/memory care and continuing care retirement communities. Ageility Physical Therapy Solutions, a Five Star division, provides rehabilitation and personal fitness services to Five Star residents and external clients in 236 clinics nationwide. Three of Five Star’s communities were the first to achieve J.D. Power Senior Living Certification in 2018. Currently, 32 Five Star communities have achieved this coveted certification. Learn more at www.fivestarseniorliving.com.
