The nursing-home management arm of Diversicare spins off as a new company called Advocat. Diversicare names its founder, Dr. Charles Birkett, as CEO of the new company.
Advocat goes public in May 1994, raising $5.2 million. After the deal, Diversicare takes on the name of its best known subsidiary: American HomePatient.
In March 2013, the Brentwood-based spin-off, Advocat, will officially change its name to Diversicare Healthcare Services Inc. At the time, the company is headed by CEO Kelly Gill.