Friendship Village New Management
Building on more than 40 years of serving local seniors, the Friendship Villages (FV) today announced a transition to self-management under a new chief executive.
Forming FV Services INC., a new parent company headed by a diverse local board of directors, in tandem with the arrival of new on-site executives solely committed to FV, will move the two communities to the next level, Lydia Seibert, chair of the new parent company, said.
PHOTO: Terry Walsh, President and CEO, FV Services, INC.
FV Services INC. will operate as the holding company for Friendship Village Chesterfield (FVC) and Friendship Village Sunset Hills (FVSH), plus its home health care, FV At Home, and any other acquisitions or projects. Currently, FVC houses 490 residents and employs 290 while at FVSH 400 employees now serve 650 residents.
Seibert also recognized the promotion of James T. “Terry” Walsh, a retired Army colonel and former chief operating officer at Ascension Health Senior Care, to president and chief executive officer over both villages. Walsh first joined FV to head the Sunset Hills community as executive director last summer.
In making these announcements, Seibert acknowledged the termination of FV’s prior management contract and administrative partnership of some 40 years with Life Care Services, Des Moines, IA.
Seibert said the separation will allow the villages to provide enhanced services with significant efficiencies in administrative management and cost control. In the past, she said FV experienced executive turnover as directors moved through the LCS system. Separation from LCS affected four primary executive positions at the communities.
In addition to Seibert, a Washington University-trained physical therapist, the local oversight board includes David Giffin, vice president of human resources for Stereotaxis; Jeff Klinger, retired vice president and secretary of Peabody Energy; Barth Holohan, owner of Continuum and Family Partners Adult Day Service; George Poland, retired vice president and general counsel of CitiGroup; John Fasick, retired CPA and owner of Padgett Business Services; James Diel, chief executive officer and co-founder of Textel and the Diel Group; Keith Utley, pastor of Confluence Church; Rick Vanderwal, CPA and owner of Corporate Growth Consultants;
Fred Sutton, retired Monsanto marketing executive.
Seibert stressed that FV continues to offer the Life Care contract. Exclusive to FV, this program provides for unlimited days of quality health care at a predictable monthly rate for life, she said.
Walsh spoke briefly about his vision for the future of the Villages and indicated that some exciting projects remain under study and evaluation before presentation to the local board of directors later this autumn. Walsh believes the FV brand well positioned to grow and to offer a variety of new services to seniors throughout the region.
“FV competes in the premium senior living category with some of the larger local communities. We offer our special combination of Life Care insurance, local management, devotion to care and community and long staff tenure to serve our senior communities and to thrive in a changing senior climate.
“In exploring growth and new projects at FV, we will focus on financial stewardship and strength, vibrant, carefree senior living and an environment where health care providers enjoy their work—we’re that place.”
“Even if someone does not live in the Villages, we can expand into the community, reach them and give care beyond our physical space.
“We know that people want to live at home longer. We at FV can help them do that. It’s simply a question of how we provide home health care, how we reach into homes and serve the community.”
Seibert emphasized that the transition reduces operational costs “especially after the transition period and after putting new systems in place. The board believes full local management will ultimately position FV to provide more services more efficiently to our senior community.
“Since Terry came aboard a year ago, the communities have already improved in overall financial performance and reduced projected annual cost of living increases to the residents,” she said
Seibert praised Walsh for his leadership qualities and expertise at every point in the continuum of care and acknowledged that he does well with the residents. “His white hair relates to our residents as his time in the military resonates with our many veterans.”
Walsh holds a master’s degree in strategy from the U.S. Army War College, Carlisle, PA, and a master’s degree in health care administration from Baylor University, Waco, TX.