The founder and primary owner of Medicalodges Inc., Mr. S.A. Hann, sought throughout the 1990’s to ensure that the company he had so steadfastly built would be around to serve clients and their families in the Midwest for generations to come. As Mr. Hann neared the end of his working career, he wanted to keep the company he loved so much from being absorbed by a much larger company that might not maintain the culture of Medicalodges. An even greater fear was that a new owner might split up the company and sell it in pieces. There simply had to be a better way.
In February 1998, one of the most significant events in the history of Medicalodges Inc. took place. An agreement was reached by which the employees of Medicalodges bought the company and thus ensure the future of the company would be determined by the thousands of employees who make Medicalodges what it is. Medicalodges is the first health care company in the United States to be 100% employee-owned and one of the largest employee-owned companies of any industry in the country.
What It Means To Our Residents And Families
Each and every one of the thousands of people who entrust their health care needs to Medicalodges every year is doing so with employees who are also owners of the company. Thus, each employee has a deeply personal, vested interest in providing the highest level of quality care. We experience few staff turnovers which results in stability and more personalized care for the residents and clients. As an employee-owned company, any profits that are made are put back into the company, its care centers, resident care, and to retirement funds, as available.
What It Means To Our Staff
The employee-owners who work for Medicalodges have peace of mind in knowing that the company will be intact for their entire careers and that we, through our dedication and diligence, ensure our own future. Medicalodges has established an Employee Stock Ownership Plan, or ESOP, that grows for each vested employee over time based on the performance of the company. At retirement, each employee’s ESOP account serves as a retirement plan and reward for the years of service provided to Medicalodges.