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EXHIBIT 99
For More Information Contact:
William Nicol
(503) 252-6233, ext. 283
Drew Q. Miller
(503) 252-6233, ext. 293
For Immediate Release
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Assisted Living Concepts, Inc. Restructures Relationship With Founder
PORTLAND, Oregon, October 19, 2000 - Assisted Living Concepts, Inc. today
announced that it has agreed to restructure its relationship with founder CEO,
Keren Brown Wilson, PhD.
Under this restructuring, Dr. Wilson has stepped down as President and CEO
and resigned from the Board of Directors effective October 19, 2000. She will,
however, remain active with the company as a part time employee until December
31, 2001, and will continue to represent the Company at various assisted living
industry events. In her new role she will focus on policy, education, quality
assurance, and the ongoing development of the company's assisted living model.
The company will incur a charge of $800,000 recognized in the fourth quarter,
2000 in connection with the restructuring, such amount to be paid out over the
fourteen month period ending December 31, 2001.
Dr. Wilson noted, "This new role gives me the opportunity to focus my
attention on areas vital to the company's success and of particular interest to
me. Additionally, it will permit me to increase my efforts on behalf of the
assisted living industry during a challenging period."
William James Nicol, who became Chairman of the company's Board of
Directors in March of this year, has been appointed acting President and CEO.
Mr. Nicol has been active in the health care industry for thirty years and has
served as CEO or CFO of several public companies including Health Management,
Careline, Quantum Health Services and Comprehensive Care Corporation.
Mr. Nicol expressed the Board's appreciation of Dr. Wilson's energy and
dedication since the founding of the Company in 1994. He added, "Dr. Wilson
should be particularly proud of her role in the development of the model to
bring affordable assisted living services to smaller communities in the United
States. She oversaw the roll-out of that model to a significant portion of the
country with the establishment of 185 facilities in 16 states." He concluded by
stating, "I am extremely pleased that I and the company will have continuing
access to her knowledge and experience in the business. I look forward to
working with her in our new roles."
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