One of the founders of Community Healthcare Trust is preparing to step away from his executive role after helping grow the company’s market value to more than $1 billion.
Page Barnes has been Community Healthcare Trust’s COO since last year and before that was its CFO for about five years. He joined the company in its earliest days in late 2013. He will step down as COO at year’s end and take on a part-time role focused on tenant relations and business development for the Cool Springs-based real estate investment trust.
"Page has been a true source of leadership over the past seven years,” said Tim Wallace, chairman of Community Healthcare Trust’s board and the company’s president and CEO. “He will be sorely missed in his current position, but we are thankful for the time and energy he has devoted to elevating the company to what it is today and look forward to continuing to work with him in his new role.”
Barnes, 66, managed the health care banking department at the former AmSouth before taking on finance positions at Behavioral Healthcare Corp. and its successor Ardent Health. In 2005, he co-founded Haven Behavioral Healthcare and was its CFO and chief development officer.
"I have worked closely with the CHCT team for many years and have complete confidence in their leadership abilities as the company navigates through these uncertain times,” Barnes said in a statement. “I look forward to continuing to partner with them through the transition.”
Barnes and the company haven’t yet settled on when he will fully retire from the company. Wallace said his team won’t immediately look to hire a new COO and that other executives will take on the responsibilities Barnes is laying down.
Shares of Community Healthcare Trust (Ticker: CHCT) were down slightly Wednesday after to $45.47. Year to date, they have risen slightly.