September 2015 Interview with Paul Contris

1. Speaker1: Our guestinthissegmentisa seasonedentrepreneur.He'sbeenservingthe healthcare
industryforover30 years.Paul Contrisisthe CEO of WelcovHealthcare,whichhe
foundedin1997. Today,Paul and hispartner,Tom,run a companythat serves
thousandsof clientsand60 skillednursing,assistedlivingfacilities,andhome healthcare
agenciesthroughoutMinnesota,SouthDakota,Montana,Iowa,Nebraska,and
Wyoming.Theircorporate office islocatedinMinnesota.Welcovprovidesprogressive
healthcare andspecializedservices.It'sgotto be the premierhealthcare providerinthe
communityitserves.We welcome backtoourprogram Paul Contris.
Paul,where canwe findsome informationonWelcovHealthcare onthe internet
because Iknowa lotof folkswhoare listeningtous,theyare infrontof their
Computers, Smartphone’s,andTabletsobviously.Where canwe findsome information
aboutWelcovinthe internet?
Paul: That wouldbe www.Welcov.com .
Speaker1: We've got Paul Contriswithustoday.The CEO of WelcovHealthcare.He'sbeenwithus
manytimesbefore.We enjoyedchattingwithhim.Describeyouroperatingphilosophy
for us.
Paul: Well Ithinkthat our emphasisisfocusing onouremployeesandtheirsatisfactionand
givingthempurpose andexpressingourappreciation.We feelif we make our
employeeshave togetthe objective thatwill translate tomakingourcustomershappy
and satisfied.That'sreallythe name of the game.
Speaker1: We've got a great guestwithustoday,here on our program, Paul Contris.He'sthe CEO
of WelcovHealthcare.Whatkindof specializedservicesdoyouprovide?
Paul: As a memberof specialtycare unitsinvariousfacilities,anywhere fromtraumaticbrain
injuryservicestoventilatorcare services,cardiacrehabservices,orthopedicrehab
services,andof course,traditional longtermcare services,skillednursingfacilities,and
we have about 20 assistedlivingfacilitiesandafew independent livingfacilitiesand
home healthagencies.We provideservicesforthe seniormarketacrossthe spectrum.
Speaker1: Paul Contrisjoins ushere onour program. Welcov Healthcare isthe product.Tell us
aboutyour partnerTom.
Paul: Well Tomis notonlya greatbusinesspartner,he'sagreat friend.We've knowneach
othernow,I guess,comingon15 years.He's justa wonderful guyandalsojustvery
knowledgeable inthisindustry.He has35 yearsof experience.He'sstartedasa Nurse
Administratorandworkedhiswayupto regional positionstoseniorVice President
positionsinvariouslongtermcare chains.I wasluckyenoughtoget himas a partner.
Speaker1: We've got the CEO of WelcovHealthcare,Paul Contris,he joinsuslive.How longisthe
newhealthcare reforminitiativesgoingtoimpactyourindustry?

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Paul: We believe there'sopportunity.There will be challengesbutthere isalsoopportunity
withthe newlongtermhealthcare reforminitiativesbecausebasicallythey're tryingto
reshape the healthcare systemtobe more accountable.Totryto be more efficient
where possibleandalsodeliverabetterlevelof service.We,inourlongtermcare
facilitiescanprovide serviceswiththe same qualityasacute care hospitals.It'smuch
more expensive toprovide those servicesinanacute care hospital,sowe see
opportunitytotake care of patientsina lowercostsetting,butalsoprovide the same or
a betterlevel of care.We're excitedaboutthe future.
Speaker1: Tell usabout yourrecentfinancing.
Paul: We recentlydidabouta$50,000,000 creditfacilitywithCapital Source.It'salenderin
the healthcare space thatwe're veryhappythat we have struck up a relationshipwith
themand it'sgoingto provide uswiththe financingliquiditythatwe needatour size
now.We're veryhappyabout that.
Speaker1: We've got the CEO of WelcovHealthcare withustoday,Paul Contrisjoiningushere on
our program.Tell us aboutyourrecentacquisition.
Paul: I guessour lastacquisitionwasthe Touchstone Care CenterinSioux City,Iowaandthat's
a facilitythatwe're veryexcitedabout.We thinkithasa lot of potential andthatwas
reallythe mostrecentone.
Speaker1: We've got a great guestwithustoday.WelcovHealthcare,Paul Contrisisthe CEO.He's
withus todayhere onour program. Do youhave any plansforfuture growth?
Paul: Yeah we're evaluatinganumberof potential acquisitionopportunitiesrightnow.We've
got one inSouthDakota that may be intofruition,probablyinthe next60to 90 days.
Thenwe've gota numberof othersthat we're lookingatthatwe mightbe able to
complete the firstquarterof 2016.
Speaker1: Well Paul,Iappreciate youmakingtime forustoday.Thanks forcomingon our
program.
Paul: Thank you.