Regional Health subsidiary takes over AL facility; hires Cavalier as manager

REGIONAL HEALTH PROPERTIES, INC

Meadowood Operations became state-approved operator of Glencoe, AL assisted living/memory care facility on April 15, 2022.
Previous tenant CRM of Meadowood was ordered to cease operations by Alabama Dept. of Public Health in Dec. 2021 Consent Agreements.
Meadowood Operations entered a two-year Management Agreement with Cavalier Senior Living for day-to-day management; auto-renews annually.
During probationary license, Meadowood pays Cavalier $12k/month management fee plus a $12k start-up fee; post-probation fees to be negotiated.
If facility is sold, Meadowood pays Cavalier an incentive fee equal to 1% of purchase price including debt assumption.

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