Carlyle plans $500 million IPO for HCR ManorCare

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The Carlyle Group, the private equity owner of  HCR ManorCare, is going to take the giant nursing home and assisted living operator public with a $500 million initial public offering, according to Reuters.

Although the Carlyle Group has not gone public with its plans, sources told Reuters that the IPO could give HCR ManorCare an enterprise value, including debt, of up to $2 billion.

Sources tell Reuters that HCR ManorCare will likely file its IPO registration paperwork with the U.S. Securities and Exchange Commission within the next month, with the IPO expected to happen after the Labor Day holiday.

Carlyle bought HCR ManorCare for $4.9 billion in 2007. It sold most of its real estate assets to HCP Inc. in December 2010 in a $6.1 billion sale and leaseback deal.