Beverly sale complete
The sale of the nation's second-largest nursing home chain has been completed as planned, officials at Beverly Enterprises announced Tuesday. Pearl Senior Care, an affiliate of Fillmore Partners, closed on the deal, paying $12.50 per share in the nearly $2 billion deal.Federal regulators and Beverly shareholders had given their consent to the sale in February, all but assuring a tumultuous 15 months of sale speculation would come to an end. Beverly (officially known as BEI) operates 342 skilled nursing facilities, as well as 18 assisted living centers, and 67 hospice and home care centers. BEI also offers contract rehab therapy service to hundreds of facilities through its Aegis Therapies division.
Fillmore Capital Partners LLC is a private equity firm serving institutional investors and high net worth individuals with structured investments principally in the lodging and healthcare sectors.