Manor Care goes private
Contemporary Long-Term Care Weekly, July 5, 2007
Manor Care Inc. agreed to become a private company this week, courtesy of the Carlyle Group and a $4.9 billion purchase price, according to Bloomberg.com. The Toledo, OH-based chain, which operates more than 500 long-term care facilities in the United States, received from the Carlyle Group 20% more than its market value in April 2007, when it was first put up for sale.
Manor Care's stockholders will receive $67 a share, and the company issued a statement Monday stating the deal was valued around $6.3 billion, debt included. The Carlyle Group, a private equity firm based in Washington DC, manages about $59 billion in buyout, real estate, venture capital, and debt assets, Bloomberg.com reported.
Experts told the financial news Web site that companies like Manor Care are attractive to buyout-savvy groups because the demand for long-term care services is only expected to increase. A Manor Care competitor, Genesis HealthCare Corp., agreed in May to a $1.43 billion buyout of its own.
Related Products
-
PPS Alert for Long-Term Care
Looking for a tool to make your job easier? PPS Alert for Long-Term Care, exclusively for the RN or MDS coordinator, is your...
-
Billing Alert for Long-Term Care
It's essential to know how to correctly submit your Medicare claims in order to get the reimbursement your facility...
-
CNA Training Advisor: Lesson Plans for Busy Staff Trainers
Finally-a staff training program that really works!
-
MDS 3.0 Update
HCPro's MDS 3.0 Update is a free bi-weekly e-newsletter that provides MDS coordinators and skilled nursing facility staff...
-
The Long-Term Care Nursing Assistant's Guide to Advanced Restorative Skills
This book is written specifically for RNAs or nursing assistants to help them provide quality restorative care. Author...
Most Popular
- Articles
-
- Q/A: Volume requirement for reporting hydration services
- Featured blog post: Nurses face felony charges after reporting physician to the Texas Medical Board
- Catch up on what's new with injections and infusions
- Topic: CMS, OESS post new security compliance review information, checklist
- What does case-mix index mean to you?
- Capturing all necessary codes for IUD insertion and removal can be challenging
- News and briefs: Oklahoma Osteopathic Association against residency bill change
- QA:Coding multiple initial infusions
- OB services: Coding inside and outside of the package
- HIPAA Q&A: Level of encryption needed for email
- E-mailed
-
- Q/A: Volume requirement for reporting hydration services
- Featured blog post: Nurses face felony charges after reporting physician to the Texas Medical Board
- New conflicts of interest create new challenges
- Q&A tackles coding questions about injections and infusions
- Joint Commission Center announces handoff communication solutions
- Inside best practice: Reduce patient falls with a stoplight
- Identify modifiable risk factors to prevent patient falls
- Hospitalist-surgeon comanagement has no effect on outcomes
- Catch up on what's new with injections and infusions
- Case Management Monthly, June 2012
- Searched