Healthcare real estate company Invesque has named a new chief executive to replace Scott White, who will stay with the company as chairman of the board of directors.
Invesque said Adlai Chester, currently chief financial officer and executive vice president of investments, will take over as CEO on May 10. He has been with the company since 2017 and is on the board. White is stepping down as CEO after leading the company since 2017.
The Indiana-based company that trades on the Toronto Stock Exchange owns or has a majority interest in a portfolio of 63 properties in the United States, including 53 assisted living and memory care facilities, four skilled nursing facilities and two medical office buildings. It also owns an interest in four senior housing assets in Canada.
Chester has more than 20 years of experience in finance, real estate, investment, development and capital markets. In conjunction with the promotion, Quinn Haselhorst becomes CFO after serving as senior vice president of finance.
In March, IVQ Stock Holding Company LLC, a company controlled by Chester, entered into a share purchase agreement to acquire 16,982,283 common shares of the company from certain subsidiaries of Tiptree for $625,000. The move gave Chester control of 30.59% of the company.
Invesque shares now trade as a penny stock, and the company has a market capitalization of under $10 million.