AdCare shifts business plan

Share this article:

AdCare Health Systems plans to divest its senior living properties and become a holding company, the firm announced.

Properties now owned and operated by the firm will be transitioned to third-party companies. This will take place through a series of sale/leaseback deals.

The new approach will help the firm enhance cash flow, create quarterly dividends and reduce risk, the firm noted. AdCare operates or manages 43 skilled nursing facilities, two assisted living facilities and one independent living/senior housing facility, totaling approximately 4,700 beds. 


Share this article:
close

Next Article in News

More in News

A small team of workers responds best in emergencies, expert says

A small team of workers responds best in ...

Long-term care providers should consider a "flat" crisis management approach that relies on a core group of staff members, experts advised Wednesday at the LeadingAge annual conference.

Nursing homes have better pain and catheter management if leaders have more ...

Nursing homes led by administrators and directors of nursing with higher levels of education and certification have better outcomes on some key quality measures, according to recently published findings.

Court green-lights charges that a healthcare network underused observation stays

A whistleblower can continue to pursue charges that a Nevada healthcare network routinely admitted people as hospital inpatients when they should have been placed in observation status, a federal appeals court recently ruled.