Cornerstone Healthcare Group Hires Steve Jakubcanin as CEO

DALLAS, Jan. 5, 2017 /PRNewswire/ -- Cornerstone Healthcare Group Holding, Inc. ("Cornerstone"), a diversified healthcare company based in Dallas, Texas, owned by funds managed by Highland Capital Management, L.P. ("Highland"), a Dallas-based investment management firm, announced that Steve Jakubcanin has joined Cornerstone as President and Chief Executive Officer. Mr. Jakubcanin brings to Cornerstone more than 15 years of healthcare leadership experience, specializing in areas including long-term acute care, inpatient rehabilitation, home health care, personal care services, hospice, and medical home care.

Mr. Jakubcanin will report to James Dondero, Co-Founder and President of Highland and Chairman of the Cornerstone Board of Directors, and will be based in Dallas, Texas.

"Steve has been highly successful in the healthcare industry, and Cornerstone will benefit from his immense knowledge and energy," said Mr. Dondero. "He is well-suited to optimize each segment of our business and improve our patients' quality of life."

"I am honored to join the Cornerstone family and work with Highland to optimize our daily operations," said Mr. Jakubcanin. "We have an exciting future of expansion and diversification opportunities that will enable us to grow our commitment to delivering the highest levels of quality patient care and outstanding patient experience."

Mr. Jakubcanin joins Cornerstone from AccentCare, where he served as Chief Operating Officer. Prior to that, he served as the Senior Vice President of Kindred Healthcare's Central Region. Mr. Jakubcanin is a trained Pharmacist with a Bachelor's Degree in Pharmacy and an MBA from Wayne State University.

About Cornerstone Healthcare Group Holding, Inc.

Cornerstone Healthcare Group Holding, Inc. is a diversified healthcare company based in Dallas, Texas, owned by funds managed by Highland Capital Management, L.P. Cornerstone's mission is to provide the highest quality, patient-focused healthcare and customer service to every patient, family member, and physician it serves. Cornerstone is comprised of three complementary business segments: Long Term Acute Care, Behavioral Health and Senior Living. As a leading provider of complex acute and post-acute care services, Cornerstone's Long Term Acute Care division operates eighteen long term acute care hospitals in Texas, Oklahoma, Louisiana, Arkansas, Arizona, and West Virginia. Cornerstone Behavioral Health offers a continuum of services focused on older adults and is quickly establishing psychiatric facilities in select regions. The Behavioral Health division currently operates one facility in Arizona, with two additional hospitals planned in Texas. Cornerstone Senior Living is the owner and operator of seven communities in Texas, Arkansas and Tennessee, with plans to continue to grow its footprint within targeted markets. For more information, visit www.chghospitals.com.

About Highland Capital Management, L.P.

Highland Capital Management, L.P. is an SEC-registered investment adviser that, together with its affiliates, has approximately $15.4 billion of assets under management. Founded in 1993 by Jim Dondero and Mark Okada, Highland is one of the largest and most experienced global alternative credit managers. Highland specializes in credit strategies, such as credit hedge funds, long only funds and separate accounts, distressed and special situation private equity, and collateralized loan obligations (CLOs). Highland also offers alternative investments, including emerging markets, long/short equities, and natural resources. Highland's diversified client base includes public pension plans, foundations, endowments, corporations, financial institutions, fund of funds, governments, and high net-worth individuals. Highland is headquartered in Dallas, Texas and maintains offices in New York, Sao Paolo, Singapore, Seoul, and Tokyo.

Media Contacts:

Cornerstone Healthcare Group Holding, Inc.
Barbara Adams
[phone]
[e-mail]

Highland Capital Management, L.P.
Lucy Bannon
[phone]
[e-mail]

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SOURCE Highland Capital Management, L.P.; Cornerstone Healthcare Group Holding, Inc.