Tags: HCR ManorCare

HCP Buys HCR ManorCare Assets in $6.1 Billion Deal

Tuesday, 14 Dec 2010 07:15 AM

HCP Inc. says it will buy all the real estate assets of HCR ManorCare, which runs more than 300 rehabilitation and nursing facilities, for $6.1 billion in cash and stock.

HCP will pay $3.53 billion in cash and $852 million in stock. The deal also includes $1.72 billion in funds HCP previously invested in HCR ManorCare.

HCR ManorCare is owned by funds managed by private equity firm The Carlyle Group. It is based in Toledo, Ohio, and has 338 facilities that provide post-acute care, skilled nursing services, and assisted living facilities in 30 states. Its major markets are Ohio, Pennsylvania, Florida, and Michigan.

HCP, a real estate investment trust that owns and operates health facilities, says HCR ManorCare will continue running those properties.

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HCP Inc. says it will buy all the real estate assets of HCR ManorCare, which runs more than 300 rehabilitation and nursing facilities, for $6.1 billion in cash and stock.HCP will pay $3.53 billion in cash and $852 million in stock. The deal also includes $1.72 billion in...
HCR ManorCare
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2010-15-14
Tuesday, 14 Dec 2010 07:15 AM
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