Company founder Mark Baiada retires as president to focus on company’s unprecedented transition into a nonprofit organization
BAYADA Home Health Care appointed David Baiada as the company’s Chief Executive Officer, succeeding his father and company founder Mark Baiada, who will transition to the role of Chairman on his 70th birthday today. Mark Baiada will celebrate the milestone by launching the process of gifting the company he established in 1975 into a newly created nonprofit organization. Believed to be the first transition of its kind in the home health care industry, this transition is designed to protect the company from sale and help to ensure that BAYADA’s mission, vision, values, and beliefs, codified as The BAYADA Way, will endure for generations to come.
“I could not think of a better birthday giftfor my father than an unbreakable promise that The BAYADA Way, which he inspired and helped author, will live forever,” said David Baiada. “This is a gift Mark shares with our current and future clients and their families, who can be assured they will continue to receive high-quality care focused on comfort, independence, and dignity, and our current and future employees, whose career and calling will be nurtured and their work deeply valued. I am honored and profoundly committed to continue the mission on behalf of all those we serve.”
Mark Baiada founded BAYADA Home Health Care in Philadelphia at the age of 27 with $16,000 in savings. Harnessing the entrepreneurial spirit he discovered in his childhood, he expanded his company over 42 years to more than $1.2 billion in revenue, providing community care to nearly 30,000 clients a week from more than 335 service offices in the United States and internationally.
As part of BAYADA’s “Lasting Legacy Plan,” Mark Baiada and his family made the decision to put mission over money—maximizing the likelihood of the company’s sustainability for 100 years and beyond. Per the plan, David Baiada, who has worked for BAYADA since 2002, will become Chief Executive Officer, while Mark Baiada will become Chairman. Mark Baiada’s key area of focus will be on incrementally transitioning BAYADA into a nonprofit over the next two years.
“Transforming BAYADA into a nonprofit reflects our company’s deep commitment to helping people live safely at home and protecting employees’ livelihoods, while also setting the stage for sustainable future growth,” said Mark Baiada. “I am incredibly excited to watch David lead BAYADA into an undeniably bright future, guided as always by the framework of The BAYADA Way.”