Heritage CEO Len Trainor Keeps Risk, Reward in Careful Balance
Heritage CEO Len Trainor Keeps Risk, Reward in Careful Balance
Calculated risk is the key to success, says Len Trainor, founder and CEO of Heritage Home Healthcare & Hospice.
"Every business faces tough times, but it's how you respond to it," he said. "When times are good, don't live too large, and when times are bad, don't cry in your milk."
Trainor founded Heritage in 1994, after working as the regional director for Maxim Healthcare Services for several years.
"I have always wanted to have my own company," he said. "I like a lot of variety in my day and the challenges that come with starting and building a business."
He met his wife, Liz, Heritage's vice president of home care, through Maxim. They decided to partner personally and professionally, and moved from Oakland to Albuquerque.
The company quickly took off. It has four locations in New Mexico and three in the greater Phoenix area, with about 1,200 employees, 75 percent of whom are full-time.
"What has made me, and us at Heritage — because it's an 'us' thing, and not a 'me' thing — so successful is our commitment to our values and how we treat people. It's simple. We live the Golden Rule," Trainor said.
Within the next four years, Trainor is planning to double Heritage's $36 million revenue with organic growth and through acquisitions.
"The recession has affected our business across the board. We have had to respond to changes and reductions in reimbursements in Medicare and Medicaid, and some other home health care providers in our region are realizing it's more challenging and difficult to be a stand-alone health care provider, so they are looking to partner or sell to companies with more scale, like us."
It's no surprise to Heritage's banker, Bob Eaton, executive vice president at New Mexico Bank & Trust, that the company is growing so quickly.
"I attribute his success to his intelligence and commitment to his work. He's certainly a guy with a vision, and I think he's very thoughtful and works awful hard," he said. "He thinks things through pretty carefully."
Trainor prides himself on learning from mistakes, growing as an individual and keeping his company moving forward. He is planning to implement an advisory board for Heritage.
"As CEO, my goals are to continue to groom and lead our senior leadership team, and as a private health care company, it is nice to get a broader picture from other businesspeople who have different perspectives. I think we will benefit from the accountability of an advisory board," he said.
—from New Mexico Business Weekly
—from New Mexico Business Weekly
October 2011