Healthcare Services Group has appointed Jason Bundick to general counsel and secretary. Bundick will continue to serve as the company's chief compliance officer.
The company has also filed an application with the New Jersey department of banking and insurance to form HCSG Insurance Corp, a captive insurance company.
The wholly-owned captive insurance subsidiary will provide its parent company with certain insurance-related services. The company's vice president of human resources and risk management, Andrew Kush, will serve as president.
Additional executive officers of HCSG Insurance will include Matthew McKee, vice president and director of marketing. John Shea, treasurer and CFO, and John Emslie, secretary and associate corporate counsel.
In conjunction with the company's planned incorporation of HCSG Insurance, the company entered into amended and restated loan agreements with PNC Bank to increase their existing bank line and letter of credit availability to $125,000,000. The proceeds available under the facility may be used for the funding of its captive insurance company as well as general corporate purposes.
