J. Mark Vanderbeck Named CEO; Gerald T. Grant Promoted to President/COO for Nation's Largest Not-for-Profit CCRC Organization

ACTS Retirement-Life Communities today announced that its board of directors has named J. Mark Vanderbeck as the senior living company's Chief Executive Officer and Gerald T. Grant as President, Chief Operating Officer, effective August 1, 2014.

Mr. Vanderbeck becomes the new leader of ACTS, the largest not-for-profit owner, operator and developer of continuing care retirement communities (CCRCs) in the United States. He succeeds current ACTS President and CEO Marvin Mashner, who is retiring after more than 23 years with the senior living organization.

"Our goal was to select executive leadership committed to ACTS' mission and ministry, and who could best respond to our organization's future needs and challenges," said Donald L. Davis, ACTS board chairman. "As long-time leaders within the ACTS organization, Mark and Jerry have been instrumental in the success of ACTS and bring a wide breadth of experience and understanding of the senior living industry into their new roles. We have every confidence that they will form an outstanding leadership team to lead ACTS into the future as we strive to provide seniors with first-class retirement-life services."                        

Mr. Vanderbeck joined ACTS in 1998 and has over 30 years of executive management experience in the senior living industry. A licensed nursing home administrator, Mr. Vanderbeck has held a series of progressive leadership roles within the ACTS organization, most recently serving as Executive Vice President, Operations, where he oversaw the operations of 23 CCRCs with approximately 6,000 employees providing services to more than 8,000 residents. Prior to ACTS, Mr. Vanderbeck served as Executive Director and Administrator for a number of CCRCs and as a member of management with a multi-facility church-affiliated retirement services organization. He has held a series of leadership positions within the senior living field including LeadingAge Florida, LeadingAge Pennsylvania and the national LeadingAge organization.

"I am honored to have been selected to lead the ACTS organization going forward and feel blessed to be part of an organization dedicated to such a significant mission of meeting the lifestyle and healthcare needs of seniors," said Vanderbeck. "I look forward to working with the extraordinary people we have in place to further our mission and provide future generations of ACTS residents with a fulfilling retirement lifestyle and the assurance of receiving high quality and compassionate care rendered in loving-kindness."                                                                                                              

Mr. Grant has been with ACTS for 26 years, most recently as Executive Vice President, Chief Financial Officer where he oversaw the financial performance of the ACTS communities and directed more than $700 million in capital financing activities for development, expansion and acquisition projects. Prior to that, he served as Vice President, Controller for ACTS. Mr. Grant previously served as a member of the Financial Advisory Panel of CARF-CCAC, an independent accrediting agency for operational and financial excellence within the senior living industry. He is an active member of numerous senior living trade associations including LeadingAge, LeadingAge PA, and LeadingAge Florida, and is a frequent presenter at industry financial conferences.

"It's been a privilege to have served ACTS for many years and I'm excited to continue in my new role and doing all that I can to ensure continued growth and success of the company," said Grant. "I look forward to building on our strong financial and operational foundation and making a positive difference for the seniors and communities we serve."

About ACTS

Headquartered in suburban Philadelphia, ACTS Retirement-Life Communities, Inc., is one of the nation's premier senior living organizations serving approximately 8,500 seniors and employing 6,200 people. ACTS currently owns and manages 23 not-for-profit continuing care retirement communities (CCRCs) across the East Coast in Pennsylvania, Delaware, Maryland, North and South Carolina, Georgia, Alabama, and Florida. The ACTS communities provide a full range of personalized senior services including independent living, assisted living and skilled nursing care residences on the same campus to accommodate a variety of retirement lifestyle needs. ACTS has the largest number of accredited communities by the CARF Continuing Care Accreditation Commission for meeting the industry's highest standards for financial and operational performance, and maintains an A- rating from Fitch Ratings Services and a BBB+ rating from Standard and Poor's. Website: ACTSretirement.org.