The Villages Health paid more than $12 million in rent to The Villages in the past year as the health provider’s top bosses enjoyed lucrative salaries.
A document filed in bankruptcy court this week offers a peek behind the curtain as to how money was being spent at The Villages Health, which announced its bankruptcy on July 3 amid a Medicare billing “discrepancy” which could force the repayment of $360 million to the U.S. government. Previous court documents revealed that The Villages Health needs to borrow $24 million for an emergency cash infusion to pay its doctors and keep the lights on.
The Villages Health has reported gross earnings of $218 million for the first five months of 2025.
A detailed report of its expenses for the past 12 months, shows how the money is being spent.
The Villages Health paid $9.8 million in rent to The Villages Operating Co. for the use of the primary and speciality care clinics located throughout The Villages. The Villages Operating Co. is owned and operated by the Developer. The Villages Health also paid $2.879 million in the past 12 months for rental space at the Center for Advanced Care at Brownwood. That money was paid to The Villages CAHB LLC, also tied to the Developer. The Villages paid an additional $27,110 to The Villages Diversified Property Services. Another $156,795 was paid to The Villages of Lake-Sumter for “interest payments.”
The rent did not include more than $60,000 paid to SECO Energy and $12,000 paid to Duke Energy for electricity.
In the past year, The Villages Health spent $366,398 for advertising in The Villages Daily Sun, a newspaper owned by the Developer.
The Villages Technology Solutions also raked in $1.338 million for supplying information technology services for The Villages Health. Its affiliated The Villages.net was paid an additional $70,245
In addition, The Villages Health paid $39,516 for water from The Villages Chilled Water.
Even as The Villages Health began to sink into bankruptcy due to the Medicare “coding error,” the top brass were earning hefty salaries.
Elliot Sussman, who was integral in the inception of The Villages Health and peddling the “Marcus Welby” approach to personalized care, has been paid $1.260 million over the past 12 months as the chairman of the board. Sussman bought a home in The Villages in 2011 for $1.2 million. He still owns it.
Chief Executive Office Bobby Trinh has been paid a total of $1.06 million over the past year, including a $200,000 retention bonus on July 2 – the day before the bankruptcy announcement, which included a soothing letter he sent out to patients.
Chief Medical Officer Jeffrey Lowenkron, was paid $657,922 from July 2024 until he departed The Villages Health in January.
The Villages Health’s Chief Financial Officer Patrick Chunn has earned $1.002 million in the past 12 months.
Chief Medical Officer James Flaherty has earned $591,257 in the past year.
Chief Human Resources Officer Cheri Benedetti has earned $406,125 over the past year.
Chief Growth Officer Emilio Noble has earned $298,667.
Board member Tom Menichino has earned $371,146 for his service during the past year.
In the wake of the Medicare billing scandal, The Villages Health has brought in a “cleanup crew” and is paying top dollar for their services.
Chief Restructuring Officer Neil Luria is being paid $150,000 per month, plus a sizable retainer.
Chief Compliance Officer Christina Steiner was paid a $850,000 “sign on and retention bonus” on June 23.
In May, Anna Phillips, described as a “seasoned restructuring expert” was brought in. Since joining the board, she has been paid $189,294.